Cyanotech Co. (OTCMKTS:CYAN) Sees Significant Increase in Short Interest

Cyanotech Co. (OTCMKTS:CYAN) saw a significant increase in short interest in July. As of July 15th, there was short interest totaling 2,938 shares, an increase of 2,477.2% from the June 30th total of 114 shares. Approximately 0.1% of the company’s shares are short sold. Based on an average daily volume of 3,344 shares, the days-to-cover ratio is presently 0.9 days.

Cyanotech Stock Performance

Shares of Cyanotech stock opened at $0.53 on Friday. The stock’s fifty day simple moving average is $0.48 and its 200 day simple moving average is $0.42. The company has a current ratio of 1.02, a quick ratio of 0.42 and a debt-to-equity ratio of 0.13. The company has a market capitalization of $3.91 million, a PE ratio of -2.12 and a beta of 0.12. Cyanotech has a 12 month low of $0.21 and a 12 month high of $0.57.

Cyanotech (OTCMKTS:CYAN) last announced its quarterly earnings results on Monday, June 29th. The biotechnology company reported $0.00 earnings per share (EPS) for the quarter. Cyanotech had a negative return on equity of 16.24% and a negative net margin of 4.82%.

Cyanotech Company Profile

Cyanotech Corp. engages in the cultivation, production, and sale of natural products derived from microalgae for the health and human nutrition markets worldwide. Its products include BioAstin Hawaiian Astaxanthin, a dietary antioxidant, which is used as a human dietary supplement and dietary ingredient to support and maintain the body’s natural inflammatory response, enhance skin, and support eye, joint, and immune 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.