It is trading at $4.75 just a bit higher than the 50 day moving average which is $4.41 and well above the 200 day moving average of $3.99. The 50 day moving average was up by +7.62% whereas the 200 day moving average was up $0.76 or +19.07%. 12K shares changed hands on Tuesday. Trading volume was up 121.87% over the stocks average daily volume.
Investors are more bearish on Cyanotech Corporation lately if you watch the uptick in short interest. The company recorded a rise in short interest from September 29, 2017 to October 13, 2017 of 60.43%. Short interest grew 3,597 over that period. With short interest at 9,549 and short average daily volume at 2,613, days to cover is 4.0 and the percentage of shorted shares was 0.00% on October 13.
These firms have modified their investment in CYAN. Renaissance Technologies LLC added to its investment by buying 1,400 shares an increase of 1.4%. Renaissance Technologies LLC claims 105,000 shares valued at $373,000. The value of the position overall is down by 6.5%. Blackrock Inc. trimmed its position by selling 9,750 shares a decrease of 92.3% as of 06/30/2017. Blackrock Inc. now controls 812 shares with a value of $3,000. The total value of its holdings decreased 92.7%.
As of the end of the quarter Tower Research Capital LLC (trc) had sold 621 shares trimming its position 92.0%. The value in dollars decreased from $3,000 to $0 decreasing 100.0% quarter over quarter. Finemark National Bank & Trust cut its stake by shedding 330 shares a decrease of 0.3% in the quarter. Finemark National Bank & Trust currently owns 102,826 shares worth $417,000. The value of the position overall is up by 13.9%.
Cyanotech Corporation, launched on March 3, 1980, is involved in the production of natural products derived from microalgae for the nutritional supplements market. The Business’s products include Hawaiian Spirulina Pacifica and Hawaiian BioAstin. Hawaiian Spirulina Pacifica is a dietary supplement used for extra energy, a strengthened immune system, cardiovascular benefits and as a source of antioxidant carotenoids. Hawaiian BioAstin is a dietary antioxidant shown to support and maintain the body’s natural inflammatory response, to enhance skin, and to support eye and joint health. The Company cultivates over two microalgal species from which its product lines, natural astaxanthin products and spirulina products, are derived..