Cyanotech Corp (NASDAQ:CYAN) Sees Large Growth in Short Interest

Cyanotech Corp (NASDAQ:CYAN) saw a significant growth in short interest during the month of August. As of August 31st, there was short interest totalling 800 shares, a growth of 700.0% from the July 31st total of 100 shares. Based on an average daily trading volume, of 2,200 shares, the short-interest ratio is presently 0.4 days. Approximately 0.0% of the shares of the company are sold short.

An institutional investor recently bought a new position in Cyanotech stock. Citadel Advisors LLC acquired a new stake in shares of Cyanotech Corp (NASDAQ:CYAN) in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund acquired 15,811 shares of the biotechnology company’s stock, valued at approximately $49,000. Citadel Advisors LLC owned about 0.27% of Cyanotech as of its most recent SEC filing. Hedge funds and other institutional investors own 12.83% of the company’s stock.

Shares of Cyanotech stock traded up $0.05 during trading on Wednesday, hitting $2.49. 304 shares of the company’s stock traded hands, compared to its average volume of 3,617. Cyanotech has a 1 year low of $2.01 and a 1 year high of $4.07. The business has a 50-day simple moving average of $2.51 and a 200-day simple moving average of $3.05. The company has a current ratio of 1.85, a quick ratio of 0.41 and a debt-to-equity ratio of 0.68.

Cyanotech (NASDAQ:CYAN) last issued its earnings results on Tuesday, August 13th. The biotechnology company reported ($0.02) earnings per share for the quarter. The business had revenue of $8.07 million during the quarter. Cyanotech had a negative return on equity of 15.79% and a negative net margin of 7.88%.

About Cyanotech

Cyanotech Corporation engages in the cultivation, production, and sale of natural products derived from microalgae for the health and human nutrition markets worldwide. The company's products include Hawaiian BioAstin natural astaxanthin, a dietary antioxidant, which is used as a human nutraceutical and functional food ingredient to support and maintain the body's natural inflammatory response, enhance skin, and support eye and joint health; and Hawaiian Spirulina Pacifica, a nutrient-rich dietary supplement that is used for extra energy, a strengthened immune system, cardiovascular benefits, and as a source of antioxidant carotenoids.

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