Ecosynthetix (TSE:ECO) Given New C$4.00 Price Target at Canaccord Genuity

Ecosynthetix (TSE:ECO) had its target price hoisted by Canaccord Genuity from C$2.50 to C$4.00 in a research report report published on Friday, BayStreet.CA reports.

Ecosynthetix stock traded down C$0.03 during trading on Friday, hitting C$3.32. The company had a trading volume of 11,200 shares, compared to its average volume of 125,332. Ecosynthetix has a 1-year low of C$1.55 and a 1-year high of C$3.45. The company has a current ratio of 26.58, a quick ratio of 24.62 and a debt-to-equity ratio of 2.77. The company has a 50 day simple moving average of C$3.19. The stock has a market cap of $193.82 million and a PE ratio of -114.48.

Ecosynthetix (TSE:ECO) last posted its earnings results on Wednesday, May 8th. The company reported C($0.01) earnings per share for the quarter. The company had revenue of C$5.94 million for the quarter. On average, equities analysts anticipate that Ecosynthetix will post -0.01 earnings per share for the current year.

Ecosynthetix Company Profile

EcoSynthetix Inc, a renewable chemicals company, develops and commercializes bio-based technologies that are used as replacement solutions for synthetic, petrochemical-based adhesives, and other related products in the Americas, Europe, the Middle East, Africa, and the Asia Pacific. The company offers EcoMer biomonomer for use in pressure sensitive adhesives, ink, toner resins, and paints; EcoSphere biolatex used as coating binder for paper and paperboard; EcoStix, a family of pressure-sensitive adhesives, which include customizable resin grades and formulated grades; and DuraBind engineered biopolymers enable manufacturers of particle board, MDF, veneers, and laminates to decrease the amount of highly regulated chemicals, such as formaldehyde in their formulation.

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