Meridian Ohc Partners, LP
recently revealed that they own a 13.3% stake in Cyanotech Corporation (NASDAQ:CYAN) in a Schedule 13D/A disclosure that was filed with the Securities and Exchange Commission on Tuesday, August 1st. The investor owns 749,610 shares of the stock worth $3,673,089. The reporting parties listed on the disclosure included Meridian OHC Partners, LP, Meridian TSV II, LP, TSV Investment Partners, LLC, BlueLine Capital Partners II, LP and BlueLine Partners, LLC. The disclosure is available through the SEC website at this hyperlink.
provided the following explanation of their ownership:
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Shares of Cyanotech Corporation (NASDAQ CYAN) remained flat at $4.90 during mid-day trading on Friday. The stock had a trading volume of 8,060 shares. The stock’s market capitalization is $27.86 million. The stock’s 50 day moving average is $3.67 and its 200-day moving average is $3.78. Cyanotech Corporation has a 52-week low of $3.25 and a 52-week high of $5.10.
Cyanotech Corporation (NASDAQ:CYAN) last issued its quarterly earnings results on Thursday, August 10th. The biotechnology company reported $0.09 earnings per share (EPS) for the quarter. The business had revenue of $8.81 million for the quarter. Cyanotech Corporation had a negative return on equity of 0.14% and a negative net margin of 0.07%. Equities research analysts predict that Cyanotech Corporation will post ($0.01) earnings per share for the current year.
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Separately, ValuEngine raised shares of Cyanotech Corporation from a “sell” rating to a “hold” rating in a research note on Monday, August 14th.
About Cyanotech Corporation
Cyanotech Corporation is engaged in the production of natural products derived from microalgae for the nutritional supplements market. The Company’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.
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