Cyanotech (OTCMKTS:CYAN) Releases Quarterly Earnings Results

Cyanotech (OTCMKTS:CYAN) announced its quarterly earnings results on Tuesday. The biotechnology company reported $0.12 earnings per share for the quarter, Zacks reports. The firm had revenue of $7.96 million during the quarter. Cyanotech had a negative return on equity of 0.86% and a negative net margin of 0.25%.

Cyanotech Price Performance

Shares of Cyanotech stock remained flat at $0.54 during mid-day trading on Thursday. The company’s stock had a trading volume of 49,624 shares, compared to its average volume of 2,121. The company has a fifty day moving average price of $0.53 and a 200-day moving average price of $0.46. Cyanotech has a fifty-two week low of $0.23 and a fifty-two week high of $0.78. The stock has a market capitalization of $4.14 million, a PE ratio of -2.16 and a beta of -0.09. The company has a quick ratio of 0.39, a current ratio of 1.06 and a debt-to-equity ratio of 0.13.

About Cyanotech

Cyanotech Corporation is a Hawaii-based producer of specialty health and nutrition products derived from microalgae. The company cultivates microalgae in open ponds at its facility on the Kona coast of Hawaii and processes the biomass into nutritional supplements and ingredient products. Its primary products include Hawaiian Spirulina Pacifica, a spirulina-based nutritional supplement, and BioAstin Hawaiian Astaxanthin, a natural antioxidant derived from the microalga Haematococcus pluvialis . Cyanotech has marketed these products for use in dietary supplements, functional foods and other health-related applications.