Posted by admin on Jul 16th, 2022

Zymergen Inc. (NASDAQ:ZY – Get Rating) was the recipient of a large decrease in short interest in the month of June. As of June 30th, there was short interest totalling 3,340,000 shares, a decrease of 39.5% from the June 15th total of 5,520,000 shares. Based on an average daily trading volume, of 1,550,000 shares, the days-to-cover ratio is presently 2.2 days. Approximately 5.7% of the company’s stock are sold short.

A number of hedge funds have recently added to or reduced their stakes in ZY. Virtu Financial LLC boosted its stake in shares of Zymergen by 52.5% in the 1st quarter. Virtu Financial LLC now owns 32,312 shares of the company’s stock valued at $93,000 after purchasing an additional 11,119 shares during the last quarter. ProShare Advisors LLC bought a new position in shares of Zymergen in the 4th quarter valued at about $117,000. Keebeck Alpha LP bought a new position in shares of Zymergen in the 1st quarter valued at about $117,000. Prelude Capital Management LLC bought a new position in shares of Zymergen in the 1st quarter valued at about $123,000. Finally, SG Americas Securities LLC boosted its stake in shares of Zymergen by 90.6% in the 4th quarter. SG Americas Securities LLC now owns 18,542 shares of the company’s stock valued at $124,000 after purchasing an additional 8,812 shares during the last quarter. Institutional investors own 68.40% of the company’s stock.

Shares of ZY stock opened at $1.97 on Friday. Zymergen has a 52-week low of $1.10 and a 52-week high of $40.57. The stock has a market cap of $203.19 million, a price-to-earnings ratio of -0.53 and a beta of 0.03. The firm has a fifty day moving average of $1.47 and a 200-day moving average of $2.93.

Zymergen (NASDAQ:ZY – Get Rating) last announced its quarterly earnings data on Thursday, May 12th. The company reported ($0.70) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.71) by $0.01. The company had revenue of $4.79 million during the quarter, compared to analysts’ expectations of $3.05 million. Zymergen had a negative net margin of 1,962.56% and a negative return on equity of 72.62%. During the same quarter in the prior year, the company posted ($6.51) EPS. On average, sell-side analysts predict that Zymergen will post -2.87 earnings per share for the current year.

Several research firms have commented on ZY. The Goldman Sachs Group decreased their target price on shares of Zymergen from $6.00 to $4.00 and set a “neutral” rating for the company in a research report on Wednesday, April 13th. UBS Group decreased their price objective on shares of Zymergen from $13.00 to $4.00 and set a “neutral” rating for the company in a report on Thursday, March 24th. Three research analysts have rated the stock with a sell rating and five have given a hold rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and an average price target of $6.75.

Zymergen Inc design, develop, and commercialize microbes, molecules, and materials. It offers an automation solution comprising reconfigurable automation carts, a modular hardware building blocks that allow for assembly of work cells customized for the particular needs of a lab; and automation control software, a cloud-based software used to control integrated automation systems.

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