Chief Financial Officer Singh Enakshi sale 3,928 shares of Zymergen Inc. [ZY]

Investors can expect a company’s stock to rise or fall based on the buying and selling of stock by its insiders. Zymergen Inc. shares valued at $8,681 were sold by Singh Enakshi on Sep 02. At $2.21 per share, Singh Enakshi sold 3,928 shares. The insider’s holdings dropped to 466,027 shares worth approximately $1.2 million following the completion of this transaction.


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Also, Kim Mina sold 3,410 shares, netting a total of over 7,536 in proceeds. Following the sale of shares at $2.21 each, the insider now holds 298,427 shares.

Before that, Serber Zachariah had sold 3,268 shares from its account. In a trade valued at $7,222, the Chief Science Officer traded Zymergen Inc. shares for $2.21 each. Upon closing the transaction, the insider’s holdings decreased to 3,268 shares, worth approximately $6.56 million.

Analysts at HSBC Securities upgraded the stock from ‘”a Reduce”‘ to ‘”a Hold”‘ outlook in a report released in mid January. Earlier on September 27, 2021, JP Morgan downgraded its rating. Their new recommendation was “an Underweight” for ZY stock which previously was a “a Neutral”.

Analyzing ZY’s Price Performance

On Wednesday, Zymergen Inc. [NASDAQ: ZY] plunged -0.77% to $2.57. The stock’s lowest price that day was $2.53, but it reached a high of $2.8288 in the same session. During the last five days, there has been a drop of approximately -6.55%. Over the course of the year, Zymergen Inc. shares have dropped approximately -61.58%. Shares of the company reached a 52-week high of $7.03 on 01/03/22 and a 52-week low of $1.10 on 05/25/22. A 50-day SMA is recorded $2.51, while a 200-day SMA reached $3.24. Nevertheless, trading volume fell to 1.16 million shares from 0.6 million shares the previous day.

Support And Resistance Levels for Zymergen Inc. (ZY)

According to the 24-hour chart, there is a support level at 2.46, which, if violated, would cause prices to drop to 2.34. In the upper region, resistance lies at 2.76. The next price resistance is at 2.94. RSI (Relative Strength Index) is 50.35 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at 0.07, which suggests the price will decrease in the coming days. Percent R is at 48.42%, indicating low price movement. Stochastics %K at holding indicates that the stock is to be held.

Is Zymergen Inc. subject to short interest?

Stocks of Zymergen Inc. saw a sharp steep in short interest on Jul 14, 2022 dropping by -2.11 million shares to 3.41 million. Data from Yahoo Finance shows that the short interest on Jun 14, 2022 was 5.52 million shares. A decline of -61.88% in short interest reflects a negative sentiment towards the stock. Despite the fact that short shares comprise just 2.06 of the overall float, the days-to-cover ratio (short ratio) decline to 2.06.

Which companies own the most shares of Zymergen Inc. (ZY)?

According to GIC Pte Ltd. filings, the company currently owns 5,078,902 shares, which is about 4.88% of the total ZY shares outstanding. With the completion of the buy transaction, ARK Investment Management LLC’s stake is now worth $8,191,948. A total of 688,361 shares of Zymergen Inc. were bought by Millennium Management LLC during the quarter, and -752,451 were sold by The Vanguard Group, Inc. In its current portfolio, JPMorgan Asset Management holds 1,688,178 shares valued at $4.0 million.

In terms of Zymergen Inc. share price expectations, FactSet research, analysts set an average price target of $2.60 in the next 12 months, up nearly 0.39% from the previous closing price of $2.59. Analysts anticipate Zymergen Inc. stock to reach $2.60 by 2022, with the lowest price target being $2.60. In spite of this, 3 analysts ranked Zymergen Inc. stock as a Hold at the end of 2022. On August 31, 2021, UBS assigned a price target of “a Neutral” to the stock and downgraded coverage with a $13.

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