Zacks Investment Research downgraded shares of OriginOil Inc. (OOIL) from OUTPERFORM to NEUTRAL on February 05, 2013, with a target price of $6.00.
OriginOil is moving from a proof of concept to a full scale plant for production of oil from algae and the separation of oil and water in oil fields using the company's unique separation processes. The company's strategy is to be a supplier of technology to algae producers and oil field operators so that the oil separation process is more efficient, less expensive and the cost of oil from algae becomes economically feasible. The company's goals for the next three years are the successful operation of the 300 GPM continuous harvesting system and industry validation of the SSE process.
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