Solazyme Inc. (TVIA) Shares Up 3.8%
Solazyme Inc. (NASDAQ:TVIA)’s share price shot up 3.8% during trading on Thursday . The stock traded as high as $2.78 and last traded at $2.75, with a volume of 358,397 shares changing hands. The stock had previously closed at $2.65.
The stock’s market cap is $234.35 million. The company’s 50-day moving average is $2.55 and its 200 day moving average is $2.24.
Solazyme (NASDAQ:TVIA) last released its quarterly earnings results on Monday, August 8th. The company reported ($0.26) EPS for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.29) by $0.03. During the same quarter in the prior year, the business posted $0.40 EPS. The firm had revenue of $9.90 million for the quarter, compared to analyst estimates of $10.85 million. The firm’s quarterly revenue was down 15.4% compared to the same quarter last year. Analysts predict that Solazyme Inc. will post ($1.15) earnings per share for the current fiscal year.
In related news, CFO Tyler Painter sold 12,500 shares of the firm’s stock in a transaction on Tuesday, June 7th. The shares were sold at an average price of $2.67, for a total transaction of $33,375.00. Following the sale, 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 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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