Solazyme Inc. (TVIA) Stock Price Down 2%
Shares of Solazyme Inc. (NASDAQ:TVIA) dropped 2% during trading on Monday . The stock traded as low as $2.37 and last traded at $2.43, with a volume of 138,541 shares trading hands. The stock had previously closed at $2.48.
Separately, Goldman Sachs Group Inc. lifted their price target on Solazyme from $1.75 to $2.50 and gave the company a “neutral” rating in a report on Tuesday, March 15th.
The stock has a 50 day moving average price of $2.38 and a 200 day moving average price of $2.07. The stock’s market capitalization is $208.09 million.
Solazyme (NASDAQ:TVIA) last announced its quarterly earnings data on Wednesday, May 4th. The company reported ($0.27) earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.29) by $0.02. The firm earned $10.90 million during the quarter, compared to analyst estimates of $11.94 million. The company’s quarterly revenue was down 13.5% compared to the same quarter last year. During the same quarter last year, the company earned ($0.37) EPS. On average, equities analysts expect that Solazyme Inc. will post ($1.12) earnings per share for the current fiscal year.
In other news, CFO Tyler Painter sold 12,500 shares of the company’s stock in a transaction on 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 sale, the chief financial officer now owns 400,337 shares in the company, valued at $1,068,899.79. The sale was disclosed in a legal filing with the SEC, which is available at this link.
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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