Cyanotech Corporation (NASDAQ:CYAN) Stock Closed Significantly Above Its 50 Day Average


The stock last traded at $4.86 significantly higher than the 50 day moving average of $4.40 and impressively higher than the 200 day moving average of $3.95. The 50 day moving average was up $0.46 or +10.434% whereas the 200 day moving average was up $0.91 or +22.963%. Trading was heavy with 5,562 shares changing hands on Tuesday. Overall, volume was up 204.43% over the stocks normal daily volume.

Traders are feeling more bullish on shares of Cyanotech Corporation of late if you look at the downtick in short interest. The company recorded a fall in short interest of -42.61% as of the latest report on September 29, 2017. Short interest fell 4,419 over that timeframe. Days to cover decreased 0.0 to 2.0 and the percentage of shorted shares is 0.00% as of September 29.

These firms have modified their investment in CYAN. As of the end of the quarter Vanguard Group Inc had disposed of 24,193 shares trimming its holdings by 97.6%. The value of the total investment in Cyanotech Corporation went from $97,000 to $2,000 decreasing 97.9% for the reporting period. Renaissance Technologies LLC grew its position by buying 1,400 shares an increase of 1.4% in the quarter. Renaissance Technologies LLC now holds 105,000 shares valued at $373,000. The value of the position overall is down by 6.5%.

Blackrock Inc. cut its investment by shedding 9,750 shares a decrease of 92.3% as of 06/30/2017. Blackrock Inc. owns 812 shares worth $3,000. The total value of its holdings decreased 92.7%. As of quarter end Tower Research Capital LLC (trc) had sold a total of 621 shares trimming its position 92.0%. The value of the investment in Cyanotech Corporation decreased from $3,000 to $0 a change of 100.0% quarter to quarter.

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..