Solazyme Inc. (TVIA) Stock Price Down 2%
Shares of Solazyme Inc. (NASDAQ:TVIA) traded down 2% on Monday . The stock traded as low as $2.37 and last traded at $2.43, with a volume of 138,541 shares changing hands. The stock had previously closed at $2.48.
Separately, Goldman Sachs Group Inc. raised their target price on Solazyme from $1.75 to $2.50 and gave the company a “neutral” rating in a research note on Tuesday, March 15th.
The stock’s market capitalization is $202.17 million. The company has a 50-day moving average price of $2.40 and a 200-day moving average price of $2.06.
Solazyme (NASDAQ:TVIA) last posted its quarterly earnings results on Wednesday, May 4th. The company reported ($0.27) EPS for the quarter, beating the consensus estimate of ($0.29) by $0.02. The company had revenue of $10.90 million for the quarter, compared to analysts’ expectations of $11.94 million. The company’s revenue was down 13.5% on a year-over-year basis. During the same quarter in the prior year, the firm earned ($0.37) earnings per share. Analysts anticipate that Solazyme Inc. will post ($1.12) EPS for the current fiscal year.
In related news, CFO Tyler Painter sold 12,500 shares of Solazyme stock in a transaction on Tuesday, June 7th. The shares were 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 of the company’s stock, valued at approximately $1,068,899.79. The transaction was disclosed in a document filed with the SEC, which can be accessed through 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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