Cyanotech Stock Soars (CYAN)

NEW YORK ( TheStreet) -- Shares of Cyanotech Corporation (Nasdaq: CYAN) have taken a tremendous swing upward. The stock is trading at $8.25 as of 9:30 a.m. ET, 26.7% above Wednesday's closing price of $6.51. Volume is at 16,422, 0.3 times the daily average of 53,500.

Cyanotech has a market cap of $33.1 million and is part of the health care sector and drugs industry. Shares are down 6.3% year to date as of the close of trading on Wednesday.

Cyanotech Corporation engages in the cultivation, production, and sale of natural products derived from microalgae worldwide. The company has a P/E ratio of 15.8, above the average drugs industry P/E ratio of 15.3 and below the S&P 500 P/E ratio of 17.7.

TheStreet Ratings rates Cyanotech as a buy. The company's strengths can be seen in multiple areas, such as its robust revenue growth, largely solid financial position with reasonable debt levels by most measures, solid stock price performance, impressive record of earnings per share growth and compelling growth in net income. Although no company is perfect, currently we do not see any significant weaknesses which are likely to detract from the generally positive outlook. You can view the full Cyanotech Ratings Report.

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