Solazyme Trading Down 4.9% on Insider Selling (SZYM)
Shares of Solazyme (NASDAQ:SZYM) fell 4.9% during trading on Friday following insider selling activity, Stock Ratings News reports. The stock traded as low as $9.90 and last traded at $9.93, with a volume of 654,470 shares trading hands. The stock had previously closed at $10.44.
Specifically, CTO Peter Licari sold 7,000 shares of the stock in a transaction that occurred on Thursday, May 29th. The shares were sold at an average price of $11.10, for a total value of $77,700.00. The sale was disclosed in a legal filing with the SEC, which is available at this link.
SZYM has been the subject of a number of recent research reports. Analysts at Morgan Stanley reiterated an “overweight” rating on shares of Solazyme in a research note on Friday. They now have a $15.00 price target on the stock. Separately, 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. Finally, 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. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating and three have given a buy rating to the company. The stock presently has an average rating of “Hold” and a consensus price target of $14.58.
The stock has a 50-day moving average of $10.21 and a 200-day moving average of $10.64. The company’s market cap is $757.5 million. Solazyme also saw a large increase in short interest during the month of May. As of May 15th, there was short interest totalling 16,377,706 shares, an increase of 16.5% from the April 30th total of 14,055,815 shares. Based on an average daily trading volume, of 1,545,386 shares, the days-to-cover ratio is currently 10.6 days. Approximately 30.8% of the company’s stock are short sold.
Solazyme (NASDAQ:SZYM) last released its earnings data on Monday, May 5th. The company reported ($0.44) EPS for the quarter, missing the Thomson Reuters 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 prior year, the company posted ($0.43) earnings per share. The company’s quarterly revenue was up 85.1% on a year-over-year basis. Analysts expect that Solazyme will post $-1.52 EPS for the current fiscal year.
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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