The number of shares of Zymergen Inc. (NASDAQ: ZY) that were sold short during September saw a significant increase from the previous month. There were 3,750,000 shares available for a short sale as of September 30th. This represents a 33.9% increase from the volume of 2,800,000 shares that existed on the previous trading day. The current short-interest ratio is 2.9 days, based on an average daily volume of 1,310,000 shares trading hands in the market. This is the number that she arrived at. Roughly 6.0% of the company’s total share capital is held in short positions at any given time.
On August 15th, the most recent earnings report for Zymergen, which is publicly traded and can be found under the symbol NASDAQ: ZY, was made available to the public. The company announced that its quarterly earnings per share (EPS) came in at $1.13, which was $0.38 less than the consensus estimate of $0.75 among market analysts. The estimate was based on the company’s performance during the previous quarter. In addition, Zymergen had a negative return on equity and net margin. Zymergen was in the red in both of these categories. The return on equity was negative 93.37 percent, and the net margin was negative -2,508,94 percent. Actual quarterly sales for the company came in at $2.63 million, which is considerably less than the consensus projection of $3.25 million among industry experts. As stated by the forecasts provided by equity research analysts, Zymergen is expected to incur a loss of 2.99 cents per share during the current fiscal year, as stated by the forecasts provided by equity research analysts.
Recently, several prominent investors adjusted the percentage of ZY stock held in each of their respective investment portfolios. Laurion Capital Management LP opened a new position in Zymergen during the second quarter, which resulted in an investment of approximately $37,000 for the company. Resolute Advisors LLC incurred a total expense of $49,000 due to their new investment in Zymergen, which they made during the second quarter of 2018. B. Riley Wealth Management Inc. invested approximately $49,000 during the second quarter to acquire new holdings in Zymergen. The percentage of Zymergen shares that Virtu Financial LLC owned increased by 52.5% during the first three months of 2018 compared to the previous year. After making additional purchases of 11,119 shares of the company’s stock during the period in question, Virtu Financial LLC now holds 32,312 shares of the company’s stock. Each share of the company’s stock has a current market value of $93,000. Last but not least, during the first quarter of 2018, Keebeck Alpha LP spent approximately 117,000 to acquire an additional position in Zymergen. Most of the company’s shares, or 52.99%, are owned by institutional investors and hedge funds.
ZY stock began trading on Friday for $2.35 per share. The first day of trading was on Friday. The company’s simple moving average over the past fifty days is $2.66, and the company’s simple moving average over the past two hundred days is $2.11. The company has a P/E ratio of 0.66 and a beta value of 1.69, and its market capitalization is currently sitting at $245.23 million. Additionally, Zymergen reached an all-time high price of 13.25 dollars and an all-time low price of 1.10 dollars.
By writing reports, a multitude of equity analysts has contributed to the body of work that has been done on the company. JPMorgan Chase & Co. changed their rating of Zymergen from “underweight” to “neutral” in a research report released on July 26th. The report was about the company’s Zymergen stock. UBS Group stated in a research note released on July 26th that they would be lowering their price objective for Zymergen to $2.60. The note was published on Tuesday. According to the data from Bloomberg, the stock has been given six hold ratings by various financial analysts. It is currently anticipated that Zymergen will reach a price of $4.37, and the “Hold” rating is the most common given to the stock.
Zymergen, Inc. is in charge of the manufacturing, research, and development, as well as the distribution of microbes, chemicals, and materials. The automation solution it provides includes automation control software, which refers to web-based software used to control integrated automation systems. This software is included in the solution. In addition, re-configurable automation carts, which are modular hardware building blocks that can be put together to make work cells tailored to a laboratory’s requirements, are also included in its automation solution.
Read More: Short Interest in Zymergen Inc. (NASDAQ:ZY) is increasing significantly.