KiOR (KIOR) Price Target Reduced to $0.25 at Goldman Sachs

Goldman Sachs maintained a Neutral rating on KiOR, Inc. (NASDAQ: KIOR) and lowered its price target to $0.25 (from $0.40). The change follows its 10-Q filing.

Analyst Brian Lee said, "We remain Neutral-rated on KIOR as the company’s liquidity problems continue to mount. KiOR ended 2Q14 with less than $1mn of cash on the balance sheet. Visibility into securing long-term financing needs remains limited as does the timing of restarting its Columbus facility. According to the company’s filing, KiOR has sufficient capital to fund operations and debt obligations through September 30, 2014. Additionally, the company cited that the SEC has served it with two subpoenas seeking documents regarding, among other items, (1) progress at Columbus, (2) forecasted production volumes and (3) technology status. This is an unexpected development that would appear to add an incremental risk to KiOR’s ongoing liquidity challenges."

For an analyst ratings summary and ratings history on KiOR, Inc. click here. For more ratings news on KiOR, Inc. click here.

Shares of KiOR, Inc. closed at $0.26 yesterday.

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