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Solazyme (NASDAQ:SZYM) traded down 3.6% on Wednesday following insider selling activity, Analyst Ratings reports. The company traded as low as $9.89 and last traded at $9.91, with a volume of 359,048 shares trading hands. The stock had previously closed at $10.28.

Specifically, General Counsel Paul T. Quinlan sold 6,000 shares of the company’s stock on the open market in a transaction that occurred on Monday, July 21st. The shares were sold at an average price of $9.80, for a total value of $58,800.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at 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 research analyst has rated the stock with a hold rating and one has issued a buy rating to the company. Solazyme has a consensus rating of “Buy” and an average target price of $15.00.

The stock’s 50-day moving average is $10.95 and its 200-day moving average is $11.1. The company’s market cap is $756.0 million.

Solazyme (NASDAQ:SZYM) last released its earnings data on Monday, May 5th. 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. 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.

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