Zymergen (NASDAQ:ZY) Lowered to Sell at Zacks Investment Research

Zymergen (NASDAQ:ZYGet Rating) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a research report issued to clients and investors on Thursday, Zacks.com reports.

According to Zacks, “Zymergen Inc. is a biofacturing company. It design, develop and manufacture bio-based breakthrough products. Zymergen Inc. is based in EMERYVILLE, Calif. “

Other research analysts have also issued reports about the company. William Blair reissued a “market perform” rating on shares of Zymergen in a research report on Wednesday, March 9th. UBS Group reduced their price target on Zymergen from $13.00 to $4.00 and set a “neutral” rating for the company in a research report on Thursday, March 24th. Finally, The Goldman Sachs Group reduced their price target on Zymergen from $6.00 to $4.00 and set a “neutral” rating for the company in a research report on Wednesday, April 13th. Four equities research analysts have rated the stock with a sell rating and five have issued a hold rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $6.89.

NASDAQ ZY traded up $0.06 on Thursday, reaching $1.33. 35,825 shares of the stock traded hands, compared to its average volume of 1,667,511. The company has a fifty day moving average price of $2.32 and a 200-day moving average price of $5.11. The company has a market cap of $136.66 million and a price-to-earnings ratio of -0.36. Zymergen has a 12 month low of $1.26 and a 12 month high of $46.05.

Zymergen (NASDAQ:ZYGet Rating) last released its quarterly earnings results on Thursday, May 12th. The company reported ($0.70) EPS for the quarter, topping the consensus estimate of ($0.71) by $0.01. Zymergen had a negative return on equity of 72.62% and a negative net margin of 1,962.56%. During the same period last year, the business posted ($6.51) earnings per share. Equities analysts anticipate that Zymergen will post -2.93 EPS for the current year.

In related news, CTO Aaron Kimball sold 32,639 shares of the company’s stock in a transaction dated Friday, April 1st. The stock was sold at an average price of $2.87, for a total transaction of $93,673.93. Following the transaction, the chief technology officer now directly owns 712,644 shares of the company’s stock, valued at approximately $2,045,288.28. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Insiders have sold a total of 37,145 shares of company stock worth $104,759 over the last ninety days.

A number of institutional investors have recently bought and sold shares of ZY. Royal Bank of Canada grew its stake in Zymergen by 99.9% during the 3rd quarter. Royal Bank of Canada now owns 2,561 shares of the company’s stock valued at $34,000 after purchasing an additional 1,280 shares during the last quarter. Legal & General Group Plc boosted its stake in shares of Zymergen by 323.1% in the fourth quarter. Legal & General Group Plc now owns 6,715 shares of the company’s stock worth $45,000 after buying an additional 5,128 shares during the last quarter. Advisor Group Holdings Inc. boosted its stake in shares of Zymergen by 1,265.1% in the third quarter. Advisor Group Holdings Inc. now owns 4,300 shares of the company’s stock worth $56,000 after buying an additional 3,985 shares during the last quarter. Captrust Financial Advisors purchased a new stake in shares of Zymergen in the third quarter worth about $66,000. Finally, Amalgamated Bank purchased a new stake in shares of Zymergen in the fourth quarter worth about $72,000. Institutional investors and hedge funds own 68.40% of the company’s stock.

Zymergen Company Profile (Get Rating)

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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