Solazyme Inc. (TVIA) Trading Up 3.9%
Solazyme Inc. (NASDAQ:TVIA) shares were up 3.9% on Wednesday . The company traded as high as $2.39 and last traded at $2.37, with a volume of 396,470 shares traded. The stock had previously closed at $2.28.
Separately, Goldman Sachs Group Inc. upped their target price on Solazyme from $1.75 to $2.50 and gave the stock a “neutral” rating in a report on Tuesday, March 15th.
The company’s market cap is $200.48 million. The firm has a 50 day moving average of $2.36 and a 200-day moving average of $2.07.
Solazyme (NASDAQ:TVIA) last released its quarterly earnings results on Wednesday, May 4th. The company reported ($0.27) EPS for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.29) by $0.02. During the same quarter in the prior year, the business posted ($0.37) EPS. The company earned $10.90 million during the quarter, compared to analysts’ expectations of $11.94 million. The company’s revenue was down 13.5% on a year-over-year basis. Analysts forecast that Solazyme Inc. will post ($1.12) earnings per share for the current fiscal year.
In related news, CFO Tyler Painter sold 12,500 shares of Solazyme stock in a transaction dated Tuesday, June 7th. The stock was sold at an average price of $2.67, for a total value of $33,375.00. Following the completion of the transaction, the chief financial officer now owns 400,337 shares in the company, valued at $1,068,899.79. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink.
Solazyme, Inc creates renewable oils and bioproducts. The Company’s technology uses microalgae in an industrial fermentation process to transform a range of plant-based sugars into triglyceride oils and other bioproducts. The Company offers Algenist, a skin and personal care product available at Sephora SA and its affiliates, QVC, Inc, SpaceNK Limited, select Nordstrom stores and ULTA Beauty.
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