Solazyme Shares Down 6.2% Following Weak Earnings (SZYM)
Shares of Solazyme (NASDAQ:SZYM) traded down 6.2% during mid-day trading on Tuesday following a dissappointing earnings announcement, AnalystRatingsNetwork reports. The company traded as low as $9.71 and last traded at $10.19, with a volume of 2,471,440 shares changing hands. The stock had previously closed at $10.86.
The company reported ($0.44) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.33) by $0.11. The company had revenue of $12.40 million for the quarter, compared to the consensus estimate of $14.63 million. During the same quarter in the previous year, the company posted ($0.43) earnings per share. The company’s revenue for the quarter was up 85.1% on a year-over-year basis.
A number of analysts have recently weighed in on SZYM shares. Analysts at Credit Suisse cut their price target on shares of Solazyme from $12.00 to $11.00 in a research note on Wednesday, April 2nd. Separately, analysts at Cowen and Company raised their price target on shares of Solazyme from $17.00 to $18.00 in a research note on Tuesday, April 1st. Finally, analysts at Robert W. Baird cut their price target on shares of Solazyme from $18.00 to $16.00 in a research note on Friday, March 28th. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating and three have issued a buy rating to the stock. Solazyme has an average rating of “Hold” and an average price target of $14.50.
In other Solazyme news, Director Jerry Fiddler unloaded 12,000 shares of Solazyme stock in a transaction dated Tuesday, April 22nd. The shares were sold at an average price of $11.39, for a total value of $136,680.00. Following the completion of the sale, the director now directly owns 47,925 shares of the company’s stock, valued at approximately $545,866. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link.
The stock’s 50-day moving average is $11.67 and its 200-day moving average is $10.79. The company’s market cap is $722.7 million.
Solazyme, Inc operates as a renewable oil production company. The Company fuels include microbial-derived jet fuels, bio-diesels, and renewable diesels.
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