Solazyme Inc. (TVIA) Sees Large Volume Increase
Shares of Solazyme Inc. (NASDAQ:TVIA) saw unusually-strong trading volume on Thursday . Approximately 415,770 shares traded hands during mid-day trading, an increase of 21% from the previous session’s volume of 343,157 shares.The stock last traded at $2.68 and had previously closed at $2.57.
The company has a 50 day moving average of $2.48 and a 200 day moving average of $2.15. The company’s market cap is $227.53 million.
Solazyme (NASDAQ:TVIA) last released its earnings results on Monday, August 8th. The company reported ($0.26) earnings per share for the quarter, topping the Zacks’ consensus estimate of ($0.29) by $0.03. The business earned $9.90 million during the quarter, compared to analysts’ expectations of $10.85 million. During the same period in the prior year, the company earned $0.40 earnings per share. The firm’s quarterly revenue was down 15.4% compared to the same quarter last year. On average, equities research analysts forecast that Solazyme Inc. will post ($1.15) EPS for the current year.
In other news, CFO Tyler Painter sold 12,500 shares of the company’s stock in a transaction dated Tuesday, June 7th. The shares were sold at an average price of $2.67, for a total value of $33,375.00. Following the sale, the chief financial officer now directly owns 400,337 shares of the company’s stock, valued at approximately $1,068,899.79. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through 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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