Is Cyanotech Corporation (CYAN) a Buy? The Stock Formed Bullish Multiple Top Chart Pattern

July 14, 2018 - By Mona Holcomb

Cyanotech Corporation (NASDAQ:CYAN) Logo

Investors sentiment increased to 7 in Q1 2018. Its up 6.00, from 1 in 2017Q4. It improved, as 0 investors sold Cyanotech Corporation shares while 1 reduced holdings. 3 funds opened positions while 4 raised stakes. 1.91 million shares or 105.28% more from 930,630 shares in 2017Q4 were reported.
Webster Bank N A holds 50 shares. Moreover, Coastline has 0.06% invested in Cyanotech Corporation (NASDAQ:CYAN). Royal National Bank Of Canada reported 0% in Cyanotech Corporation (NASDAQ:CYAN). Acadian Asset Mngmt Limited Liability Com reported 0% stake. Morgan Stanley holds 0% or 20,337 shares. Deutsche Retail Bank Ag holds 4,525 shares. The Massachusetts-based Panagora Asset Mngmt Incorporated has invested 0% in Cyanotech Corporation (NASDAQ:CYAN). Moreover, Bankshares Of America De has 0% invested in Cyanotech Corporation (NASDAQ:CYAN). Finemark Comml Bank Trust invested in 102,132 shares. Moreover, Blackrock Inc has 0% invested in Cyanotech Corporation (NASDAQ:CYAN). Hightower Advsr Ltd Liability Corp has invested 0% in Cyanotech Corporation (NASDAQ:CYAN). Vanguard Gru holds 26,993 shares or 0% of its portfolio. 124,200 are held by Renaissance Techs Ltd Com. Wells Fargo And Co Mn owns 0% invested in Cyanotech Corporation (NASDAQ:CYAN) for 525,150 shares. California Pub Employees Retirement Sys accumulated 19,300 shares.

The stock of Cyanotech Corporation (CYAN) shows a multiple tops pattern with $4.27 target or 6.00 % above today’s $4.03 share price. The 9 months chart pattern indicates low risk for the $23.23M company. It was reported on Jul, 14 by Finviz.com. If the $4.27 price target is reached, the company will be worth $1.39M more.
Multiple tops are chart patterns with decent performance in a bull market. The failure rate is higher but the average decline is reasonable. Back-tests of such patterns show that the break even failure rate is 10%, the average rise: 19%, the throwback rate: 61% and the percentage of stocks meeting their price targets: 40%.

The stock increased 2.64% or $0.1035 during the last trading session, reaching $4.0252. About 970 shares traded. Cyanotech Corporation (NASDAQ:CYAN) has risen 1.86% since July 14, 2017 and is uptrending. It has underperformed by 10.71% the S&P500.

More recent Cyanotech Corporation (NASDAQ:CYAN) news were published by: Businesswire.com which released: “Cyanotech Reports Financial Results for the Fourth Quarter and Fiscal Year 2018” on June 15, 2018. Also Seekingalpha.com published the news titled: “Cyanotech Corporation (CYAN) CEO Mawae Morton On Q4 2018 Results – Earnings Call Transcript” on June 21, 2018. Bizjournals.com‘s news article titled: “Cyanotech reports $1M net income for fiscal year 2018” with publication date: June 18, 2018 was also an interesting one.

Cyanotech Corporation engages in the cultivation, production, and sale of natural products derived from microalgae for the health and human nutrition markets worldwide. The company has market cap of $23.23 million. The company's products include Hawaiian BioAstin natural astaxanthin, a dietary antioxidant, which is used as a human nutraceutical and functional food ingredient to support and maintain the body's natural inflammatory response, enhance skin, and support eye and joint 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. It has a 22.36 P/E ratio. Cyanotech Corporation sells its products as packaged consumer products through distributors, retailers, and online channels, as well as directly to consumers; and in bulk quantities to manufacturers, formulators, and distributors.

Cyanotech Corporation (NASDAQ:CYAN) Institutional Positions Chart

Receive News & Ratings Via Email - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings with our FREE daily email newsletter.




Free Email Newsletter

Enter your email address below to get the latest news and analysts' ratings for your stocks with our free daily email newsletter: