Solazyme Inc. (TVIA) Shares Up 6.6%
Solazyme Inc. (NASDAQ:TVIA) shares shot up 6.6% during mid-day trading on Tuesday . The company traded as high as $2.63 and last traded at $2.60, with a volume of 584,886 shares trading hands. The stock had previously closed at $2.44.
The stock’s 50-day moving average price is $2.47 and its 200 day moving average price is $2.15. The firm’s market capitalization is $219.01 million.
Solazyme (NASDAQ:TVIA) last issued its quarterly earnings data 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 the consensus estimate of $10.85 million. During the same quarter in the prior year, the business posted $0.40 earnings per share. Solazyme’s quarterly revenue was down 15.4% compared to the same quarter last year. Analysts expect that Solazyme Inc. will post ($1.15) earnings per share for the current fiscal year.
In other news, CFO Tyler Painter sold 12,500 shares of the firm’s stock in a transaction that occurred 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 transaction, the chief financial officer now owns 400,337 shares in the company, valued at approximately $1,068,899.79. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website.
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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