Fermenta Biotech shares jump 6% after US arm acquires membership interest in AGD Nutrition




Fermenta Biotech shares jump 6% after US arm acquires membership interest in AGD Nutrition


© Sandip Das
Fermenta Biotech shares jump 6% after US arm acquires membership interest in AGD Nutrition

Fermenta Biotech share price jumped over 6 percent intraday on December 3 after the company’s US arm acquired membership interest in AGD Nutrition.

Fermenta Biotech USA, LLC, a wholly-owned subsidiary of the Company, has acquired a membership interest in AGD Nutrition, LLC. The wholly-owned subsidiary of the Company viz. Fermenta Biotech USA, LLC (Delaware limited liability company) acquired 52 percent of the Membership Interest in AGD Nutrition LLC, the company said in an exchange filing.

AGD Nutrition LLC is in a similar line of business as that of the company and Fermenta Biotech USA, LLC. The main purpose of the acquisition is to facilitate exports and enhance the company’s footprint in North America, it said.

The aggregate consideration for the purchase of membership interest shall be USD 1,260,500.

The stock was trading at

Read More

Phibro (PAHC) Hurt by Adverse Pricing in Mineral Nutrition Arm


Recently, we issued an updated research report on Phibro Animal Health Corporation PAHC. Phibro Animal’s existing operations, and established sales, marketing and distribution network in more than 65 countries provide it ample scope to take advantage of global growth opportunities. However, adverse currency movements remain a major concern for this company.

This Zacks Rank #5 (Strong Sell) company has underperformed its industry for the past six months. The stock has lost 23.4% against the industry’s 12.1% growth. Dismal show by the Mineral Nutrition arm in the first quarter of fiscal 2021 due to lower average selling prices is discouraging. Although the segment registered volume growth, this was more than offset by lower average selling prices.

Lower sales of the Performance Products arm’s copper-based products raise concerns. Foreign exchange fluctuations and stiff competition are other headwinds. Given the uncertainty of the future course of the pandemic and the ongoing difficult conditions

Read More