Cyanotech: Worst day in more than 2 years after warning on costs

Cyanotech

16/04/2018 15:36

** Shares of  CYAN.O  fall 18 pct to $4.15, worst pct fall
since Feb 2016; second-biggest pct loser across U.S. exchanges
    ** The microalgae nutritional supplements maker says
production costs have and will rise during Q4 and in Q1 of FY19
(https://bit.ly/2vr7FR9)
    ** Co says hurt by adverse effect on Spirulina production
due to insufficient fresh water supply
    ** About 19.9k shares traded, ~3x their 30-DMA
    ** Shares up 6.3 pct YTD

 (Reporting by Shreyashi Sanyal in Bengaluru)
 ((RM: Shreyashi.Sanyal.thomsonreuters.com@reuters.net))