Thu, Jul. 30, 4:15 PM
Wed, May 6, 4:13 PM
Thu, Feb. 26, 4:07 PM
Nov. 6, 2014, 12:28 PM
- Solazyme (SZYM -50.2%) shares are cut in half after the maker of renewable energy products reports below consensus Q3 earnings and is tagged with multiple analyst downgrades.
- Baird lowers its rating on SZYM to Neutral from Outperform, seeing challenges in ramping its Moema facility and likely will no longer reach cash flow breakeven in 2015, which limits its ability to deploy capital for expansion efforts, Baird says as it cuts its share price target to $9 from $16.
- Shares also are downgraded to Market Perform at Pacific Crest, which says SZYM has failed to achieve its cost goals as it struggles to ramp its new Brazil plant, and will now operate at sub-scale in an effort to preserve cash.
Nov. 5, 2014, 4:24 PM
Jul. 30, 2014, 4:11 PM
May 6, 2014, 3:19 PM
- Solazyme (SZYM -3.8%) is sharply lower but has recovered from early 10% losses after reporting a bigger than expected Q1 loss and revenue of $12.4M fell short of estimates as its first commercial production in Brazil was pushed into the current quarter.
- CEO Jonathan Wolfson expects SZYM to begin commercial production at its Moema, Brazil, facility in the current quarter, after saying in November that would happen in Q1 rather than last year and reiterating the goal in February.
- Analysts estimate revenue of $115M in 2014 and $330M next year, but Q1 results don't appear to indicate a sufficient pick-up in production to reach those expectations.
May 5, 2014, 4:27 PM
May 4, 2014, 5:35 PM
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Feb. 27, 2014, 11:04 AM
- Solazyme (SZYM +6.6%) surges higher following Q4 earnings and a price target raise to $17 from $14 by Cowen analysts who see production volume ramping in the latter part of 2014.
- The firm says SZYM's quarterly loss was "essentially in line with [its] expectations” and due to higher expenses as the company ramps up production at its plant in Clinton, Iowa.
- Cowen says 2014 production at Clinton totaled ~500 metric tons, with three different oil-based products scaled up and a fourth underway; Mooema has completed most phases of its startup, as fermentation is running from seed train to 125K liter scale and 600K liter production fermenters should start up in March.
- Shares also may be enjoying some spillover from a surge in biofuel and ethanol names as Pacific Ethanol (PEIX +32.5%) reports favorable news (I, II): BIOF +85.7%, CDTI +9.8%, KIOR +9.5%, REX +2.5%.
Feb. 26, 2014, 4:11 PM
Feb. 26, 2014, 12:10 AM| Feb. 26, 2014, 12:10 AM | Comment!
Feb. 25, 2014, 5:35 PM| Feb. 25, 2014, 5:35 PM | 4 Comments
Nov. 6, 2013, 3:17 PM
- Solazyme (SZYM -16.2%) plunges after reporting disappointing Q3 results, including revenues that fell more than 20% short of estimates, and lowering its sales forecast.
- CEO Jonathan Wolfson says first commercial production of renewable oil from algae at its Moema plant in Brazil will be delayed until Q1 2014; SZYM had said three months ago that Moema was 80% complete and would begin initial commercial-scale operations this year.
- SZYM now expects FY 2013 revenue to increase ~25% to $40M-$42M, down from an earlier forecast of 35%.
- Credit Suisse downgrades SZYM to Neutral from Outperform with a $12 price target, down from $17, and sees shares as range-bound until positive unit production economics are proven, which now appears to be a late 2014 event at the earliest.
Nov. 5, 2013, 4:09 PM
Aug. 7, 2013, 4:07 PM
SZYM vs. ETF Alternatives
Solazyme Inc, along with its subsidiaries, is engaged in providing renewable oils and other bioproducts. It commercializes its products into target markets such as chemicals and fuels, nutrition, and skin and personal care.
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