China-Biotics, Inc. (CHBT) Downgraded to Sell at Maxim Group

China-Biotics, Inc. (CHBT) has been downgraded today by the securities  research analysts at investment firm Maxim Group which downgraded CHBT from a “hold” rating to “sell.”  Maxim has a performance outlook price target of $6 dollars on CHBT.  CHBT is down during intraday trading and has trended beneath intermediate support of the $7.22 price level.

China-Biotics is slated to release their next earnings report next Thursday on June 9th, 2011 and the current EPS consensus estimate is 51 cents.  Their last earnings report was released on February 11th, 2011 and announced EPS of 47 cents with revenue totaling $32.4 million which was up 39.1 % year to year.  CHBT is currently trading below its 50 & 200-day moving averages and 2011 is a down year for the company.

China-Biotics, Inc. is engaged in the research, development, production, marketing, and distribution of probiotics products, which are products that contain live microbial food supplements that beneficially affect the host by improving its intestinal microbial balance. The company has market capitalization of $141,000,000 and 22,150,000 shares outstanding.  CHBT has a 52-week high of $17.90 with the low being $6.78 dollars.

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