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Cyanotech
(OTC:CYAN)
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Rating:48Neutral
Price Target:
$0.48
▲(37.43% Upside)
Action:Reiterated
Date:07/02/26
The score is held back primarily by weak financial performance—ongoing losses, fragile cash generation, and rising leverage—despite signs of operational improvement. Technicals are comparatively supportive with price above major moving averages and moderately positive momentum. Valuation remains constrained by a negative P/E, reflecting the current lack of profitability.
Positive Factors
Vertically integrated microalgae production
Cyanotech's vertically integrated large-scale cultivation and manufacture of spirulina and astaxanthin supports durable competitive advantages: specialized production assets, processing know‑how, and exposure to both consumer and B2B channels. These create barriers to entry and steady demand.
Negative Factors
Rising leverage
Debt-to-equity rising to ~1.51 from ~0.46 since 2022 reflects materially higher leverage and an eroded equity base. Elevated leverage reduces financial flexibility, raises refinancing and interest-rate risk, and constrains the company’s ability to invest or absorb another earnings setback.
Read all positive and negative factors
Positive Factors
Negative Factors
Vertically integrated microalgae production
Cyanotech's vertically integrated large-scale cultivation and manufacture of spirulina and astaxanthin supports durable competitive advantages: specialized production assets, processing know‑how, and exposure to both consumer and B2B channels. These create barriers to entry and steady demand.
Read all positive factors
Cyanotech (CYAN) vs. SPDR S&P 500 ETF (SPY)
Market Cap
$3.60M
Dividend YieldN/A
Average Volume (3M)6.46K
Price to Earnings (P/E)―
Beta (1Y)-0.16
Revenue Growth9.79%
EPS Growth61.15%
CountryUS
Employees77
SectorConsumer Defensive
Sector Strength42
IndustryPackaged Foods
Share Statistics
EPS (TTM)-0.25
Shares Outstanding7,392,243
10 Day Avg. Volume1,585
30 Day Avg. Volume6,463
Financial Highlights & Ratios
PEG Ratio0.03
Price to Book (P/B)0.29
Price to Sales (P/S)0.08
P/FCF Ratio23.81
Enterprise Value/Market Cap3.95
Enterprise Value/Revenue0.56
Enterprise Value/Gross Profit1.76
Enterprise Value/Ebitda15.61
Forecast
1Y Price TargetN/A
Price Target UpsideN/A
Rating ConsensusN/A
Number of Analyst Covering0
EPS Forecast (FY)N/A
Revenue Forecast (FY)N/A
Cyanotech Business Overview & Revenue Model
Company Description
Established in 1983 and headquartered in Kailua-Kona, Hawaii, Cyanotech Corporation specializes in the global cultivation, processing, and distribution of natural products derived from microalgae. Its key product offerings include BioAstin Hawaiia...
How the Company Makes Money
Cyanotech makes money primarily by producing and selling algae-based products and ingredients. Its core revenue streams typically include: (1) astaxanthin products (commonly marketed under the BioAstin brand) sold as finished dietary supplements a...
Cyanotech Financial Statement Overview
Summary
Income Statement
34
Negative
Balance Sheet
38
Negative
Cash Flow
33
Negative
| Breakdown | TTM | Mar 2025 | Mar 2024 | Mar 2023 | Mar 2022 | Mar 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 25.27M | 26.59M | 24.21M | 23.07M | 23.18M | 35.97M |
| Gross Profit | 8.09M | 8.67M | 6.88M | 5.95M | 7.26M | 13.57M |
| EBITDA | 910.00K | 1.31M | -629.00K | -2.51M | -825.00K | 4.50M |
| Net Income | -1.78M | -1.28M | -3.20M | -5.27M | -3.44M | 2.15M |
Balance Sheet | ||||||
| Total Assets | 24.03M | 22.13M | 23.49M | 25.11M | 29.73M | 32.05M |
| Cash, Cash Equivalents and Short-Term Investments | 649.00K | 810.00K | 257.00K | 707.00K | 974.00K | 2.59M |
| Total Debt | 15.07M | 11.60M | 11.56M | 10.90M | 11.17M | 9.00M |
| Total Liabilities | 15.96M | 14.46M | 14.61M | 13.30M | 13.38M | 12.56M |
| Stockholders Equity | 8.06M | 7.66M | 8.88M | 11.81M | 16.35M | 19.49M |
Cash Flow | ||||||
| Free Cash Flow | -1.44M | 92.00K | -1.44M | -836.00K | -3.17M | 1.11M |
| Operating Cash Flow | -1.21M | 234.00K | -1.19M | -455.00K | -2.10M | 2.38M |
| Investing Cash Flow | -228.00K | -142.00K | -247.00K | -381.00K | -1.07M | -1.27M |
| Financing Cash Flow | 1.31M | 461.00K | 990.00K | 569.00K | 1.55M | -2.29M |
Cyanotech Technical Analysis
Positive
0.35
Price Trends
0.44
Positive
0.40
Positive
0.39
Positive
Market Momentum
0.01
Negative
55.95
Neutral
62.02
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For CYAN, the sentiment is Positive. The current price of 0.35 is below the 20-day moving average (MA) of 0.45, below the 50-day MA of 0.44, and below the 200-day MA of 0.39, indicating a bullish trend. The MACD of 0.01 indicates Negative momentum. The RSI at 55.95 is Neutral, neither overbought nor oversold. The STOCH value of 62.02 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for CYAN.
Cyanotech Risk Analysis
Cyanotech disclosed 30 risk factors in its most recent earnings report. Cyanotech reported the most risks in the "Finance & Corporate" category.
Finance & Corporate - Financial and accounting risks. Risks related to the execution of corporate activity and strategy
Latest Risks Added 0 New Risks
Cyanotech Peers Comparison
UnderperformOutperform
Sector (62)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
69 Neutral | $1.25B | 10.98 | 16.46% | ― | 5.12% | 181.70% | |
68 Neutral | $377.55M | 19.34 | 12.30% | ― | 7.26% | 104.70% | |
62 Neutral | $20.33B | 14.63 | -3.31% | 3.23% | 1.93% | -12.26% | |
58 Neutral | $53.81M | -28.04 | -5.35% | ― | 15.84% | -45.39% | |
54 Neutral | $397.14M | 45.48 | 1.66% | ― | 5.67% | -73.96% | |
48 Neutral | $3.60M | -2.74 | -31.37% | ― | 9.79% | 61.15% | |
45 Neutral | $47.87M | -0.09 | -140.70% | ― | -10.00% | -98.14% |
* Consumer Defensive Sector Average
CYAN
Cyanotech
0.49
0.08
18.54%
NATR
Nature's Sunshine Products
21.47
5.45
34.02%
SENEA
Seneca Foods
183.98
79.77
76.55%
HAIN
Hain Celestial
0.53
-1.06
-66.67%
USNA
USANA Health
21.51
-10.62
-33.05%
LSF
Laird Superfood
4.89
-1.59
-24.54%
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.