Upgrade Alert for Amyris (AMRS)
Amyris (NASDAQ:AMRS) was upgraded from Underperform to Market Perform at Cowen and Company today. The stock closed yesterday at $3.60 on volume of 460,000 shares, below average daily volume of 514,000.
In the past 52 weeks, shares of Amyris have traded between a low of $2.17 and a high of $6.11 and closed yesterday at $3.60, which is 66% above that low price. Over the last five market days, the 200-day moving average (MA) has gone up 0.4% while the 50-day MA has advanced 1.4%.
Amyris, Inc. is a renewable products company. The Company provides alternatives to select petroleum-sourced products used in specialty chemical and transportation fuel markets worldwide. Amyris is developing Brazilian sugarcane as its primary feedstock.
Amyris (NASDAQ:AMRS) is currently priced 9.7% above its average consensus analyst price target of $3.25. The stock should hit resistance at its 50-day moving average (MA) of $4.06, as well as support at its 200-day MA of $3.04.
SmarTrend recommended that its subscribers protect gains by selling shares of Amyris on February 4th, 2014 by issuing a Downtrend alert when the shares were trading at $3.85. Since that call, shares of Amyris have fallen 6.4%. We are now looking for when a new Uptrend will commence and will alert SmarTrend subscribers in real time.
Keywords: analyst upgrades/downgrades amyris