Insider Selling: Solazyme CTO Sells 7,000 Shares of Stock (SZYM)
Solazyme (NASDAQ:SZYM) CTO Peter Licari sold 7,000 shares of the company’s stock on the open market in a transaction that occurred on Thursday, July 10th. The stock was sold at an average price of $10.26, for a total value of $71,820.00. Following the sale, the chief technology officer now directly owns 262,091 shares in the company, valued at approximately $2,689,054. The transaction was disclosed in a filing with the SEC, which can be accessed through this link.
Separately, analysts at Morgan Stanley reiterated an “overweight” rating on shares of Solazyme in a research note on Friday, May 30th. They now have a $15.00 price target on the stock. One equities research analyst has rated the stock with a hold rating and one has assigned a buy rating to the stock. The company currently has an average rating of “Buy” and a consensus target price of $15.00.
Shares of Solazyme (NASDAQ:SZYM) traded down 3.02% during mid-day trading on Thursday, hitting $10.26. The stock had a trading volume of 1,066,944 shares. Solazyme has a 52-week low of $8.00 and a 52-week high of $15.00. The stock’s 50-day moving average is $10.92 and its 200-day moving average is $11.16. The company’s market cap is $779.5 million. Solazyme also saw a significant increase in short interest during the month of June. As of June 30th, there was short interest totalling 18,685,188 shares, an increase of 10.4% from the June 13th total of 16,926,464 shares. Based on an average daily volume of 1,684,198 shares, the short-interest ratio is presently 11.1 days. Approximately 34.5% of the shares of the company are short sold.
Solazyme (NASDAQ:SZYM) last posted its quarterly earnings results 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 $-1.51 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.