Zymergen Inc. (NASDAQ:ZY) Short Interest Down 17.0% in August

Zymergen Inc. (NASDAQ:ZYGet Rating) was the target of a large drop in short interest in August. As of August 31st, there was short interest totalling 2,890,000 shares, a drop of 17.0% from the August 15th total of 3,480,000 shares. Approximately 4.8% of the shares of the stock are sold short. Based on an average daily volume of 1,540,000 shares, the days-to-cover ratio is currently 1.9 days.

Zymergen Stock Performance

Shares of ZY stock opened at $2.77 on Friday. Zymergen has a one year low of $1.10 and a one year high of $14.43. The company has a 50 day moving average price of $2.45 and a 200 day moving average price of $2.20. The firm has a market capitalization of $288.35 million, a price-to-earnings ratio of -0.78 and a beta of 2.63.

Zymergen (NASDAQ:ZYGet Rating) last released its quarterly earnings results on Monday, August 15th. The company reported ($1.13) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.75) by ($0.38). The firm had revenue of $2.63 million for the quarter, compared to analyst estimates of $3.25 million. Zymergen had a negative net margin of 2,508.94% and a negative return on equity of 93.37%. As a group, equities analysts forecast that Zymergen will post -2.99 EPS for the current fiscal year.

Analyst Ratings Changes

Several analysts recently weighed in on ZY shares. JPMorgan Chase & Co. upgraded shares of Zymergen from an “underweight” rating to a “neutral” rating in a report on Tuesday, July 26th. UBS Group decreased their price target on shares of Zymergen to $2.60 in a research report on Tuesday, July 26th. Six investment analysts have rated the stock with a hold rating, Based on data from MarketBeat, the stock has an average rating of “Hold” and an average target price of $6.28.

Hedge Funds Weigh In On Zymergen

Several large investors have recently added to or reduced their stakes in ZY. SG Americas Securities LLC increased its stake in Zymergen by 90.6% during the fourth 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. Virtu Financial LLC increased its stake in Zymergen by 52.5% during the first 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 stake in Zymergen during the fourth quarter valued at $117,000. Laurion Capital Management LP bought a new stake in Zymergen during the second quarter valued at $37,000. Finally, B. Riley Wealth Management Inc. bought a new position in shares of Zymergen during the second quarter worth about $49,000. 52.99% of the stock is currently owned by institutional investors.

About Zymergen

(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.

Read More

Receive News & Ratings for Zymergen Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Zymergen and related companies with MarketBeat.com's FREE daily email newsletter.