NEW YORK (TheStreet) -- Solazyme (SZYM) shares are jumping, up 8.32% to $10.55, on Thursday after announcing that it was producing the first commercially salable products on full-scale production lines at its Brazilian plant.
The company expects to reach nameplate capacity withing the next 12-18 months.
"With production underway at the Solazyme Bunge Renewable Oils plant, Solazyme is manufacturing products at three large scale facilities, including our 2,000 MT/year integrated facility in Peoria, the 20,000 MT/year Iowa facilities in Clinton/Galva and the 100,000 MT/year facility in Brazil," said CEO Jonathan Wolfson.
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TheStreet Ratings team rates SOLAZYME INC as a Sell with a ratings score of D. TheStreet Ratings Team has this to say about their recommendation:
"We rate SOLAZYME INC (SZYM) a SELL. This is driven by several weaknesses, which we believe should have a greater impact than any strengths, and could make it more difficult for investors to achieve positive results compared to most of the stocks we cover. The company's weaknesses can be seen in multiple areas, such as its deteriorating net income, disappointing return on equity, generally disappointing historical performance in the stock itself and feeble growth in its earnings per share."
Highlights from the analysis by TheStreet Ratings Team goes as follows: