CEA Industries (NASDAQ:BNC) Downgraded by Wall Street Zen to “Strong Sell”

Wall Street Zen cut shares of CEA Industries (NASDAQ:BNC) from a sell rating to a strong sell rating in a report published on Saturday,Wall Street Zen reports.

Separately, Weiss Ratings raised shares of CEA Industries from a “sell (d+)” rating to a “hold (c-)” rating in a research report on Monday, September 14th. One equities research analyst has rated the stock with a Hold rating, According to MarketBeat, the stock has a consensus rating of “Hold”.

CEA Industries Stock Performance

NASDAQ BNC opened at $5.98 on Friday. The stock has a market cap of $246.20 million, a P/E ratio of 1.08 and a beta of 0.61. CEA Industries has a fifty-two week low of $1.84 and a fifty-two week high of $12.00. The stock has a 50 day simple moving average of $3.22 and a two-hundred day simple moving average of $2.98.

CEA Industries (NASDAQ:BNC) last posted its earnings results on Tuesday, June 23rd. The company reported $6.20 earnings per share (EPS) for the quarter. CEA Industries had a return on equity of 64.29% and a net margin of 362.26%.The firm had revenue of $7.35 million for the quarter.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the company. BTG Pactual Asset Management US LLC bought a new stake in shares of CEA Industries during the second quarter valued at approximately $1,077,000. Arrington Capital Management LLC purchased a new position in shares of CEA Industries during the fourth quarter valued at approximately $2,058,000. Saba Capital Management L.P. lifted its holdings in shares of CEA Industries by 3.5% during the first quarter. Saba Capital Management L.P. now owns 1,143,533 shares of the company’s stock valued at $3,339,000 after purchasing an additional 38,242 shares during the last quarter. Aristides Capital LLC bought a new stake in shares of CEA Industries in the 4th quarter worth approximately $187,000. Finally, Weiss Asset Management LP bought a new stake in shares of CEA Industries in the 1st quarter worth approximately $43,000.

About CEA Industries

CEA Industries Inc (NASDAQ:BNC) is a holding company focused on the cannabis industry. The company seeks to acquire, develop and support consumer brands and operating businesses serving cannabis markets.

Rather than focusing on a single product, CEA Industries’ strategy is centered on building a portfolio of cannabis-related businesses. Its activities may include identifying acquisition opportunities, providing strategic support to portfolio companies and developing brands intended for regulated cannabis consumers.

The company has historically been associated with controlled-environment agriculture, including technologies and products used in indoor and greenhouse cultivation.