Amyris Inc (NASDAQ:AMRS)
Shares of Amyris Inc (NASDAQ:AMRS) dropped almost 10% during the day’s trading session. The company then released their Q2 financial report after the market close and saw their shares rise 2.5% to end at $2.49. Trading volume was very heavy. AMRS shares have an average trading volume of around 273,000 but over 1.1 million shares traded on Friday.
Amyris Inc (NASDAQ:AMRS), based in Emeryville, CA, develops alternatives to petroleum-sourced products. Amyris utilizes its proprietary bioscience technology to design microbes, as well as to convert plant-sourced sugars, into renewable ingredients. It produces and sells Biofene that converts to squalene – used as an emollient in cosmetics, natural oils, and aroma chemicals for the flavors and fragrances market. Amyris Inc (NASDAQ:AMRS) also provides renewable solvents, polymers, and lubricants for industrial markets. The company also develops renewable fuels for the mass transit fuels markets. It has a collaboration partnership with Total S.A. to produce and commercialize Biofene-based diesel and jet fuels.
Amyris Stock – by the numbers
Amyris Inc (NASDAQ:AMRS) reported Q2 2017 revenues of $25.7 million, up 168% versus $9.6 million for Q2 2016. Q2 2017 product sales were $12.7 million, up 159% over $4.9 million for the same period in 2016. Net loss attributable to Amyris common stockholders for Q2 2017 was (-$10.3) million, or (-$0.46) per basic and diluted share. Other Q2 income netted $35.8 million.
A new 52-week low, $2.43, was established Friday. AMRS stock has been a poor performer this year. YTD the stock is down over 77%, and down over 58% for the year. Incredibly, AMRS stock has a consensus target price of $15.00. Sales did improve in 2016 to $67.2 million from the 2015 figure of $34.2 million. And the per share loss for 2016 of (-$6.12) was significantly better than 2015’s (-$25.75). However, Amyris stock was tremendously diluted in 2016 as the number of outstanding shares rose from 8.47 million in 2015, to 15.9 million in 2016. Two analysts follow AMRS shares. One rates AMRS stock as a “Strong Buy”, while the other rates the shares a “Hold”.
I have no positions in any of the stocks mentioned, and have no plans to initiate any positions within the next 72 hours. All information, including any data, is provided without any guarantees of accuracy.
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About the author: James Marion is a University of Houston student studying Business with a concentration in Finance. James has interned with several investment professionals and hopes to pursue a career as a professional stock analyst after graduation.