Codexis Inc. (CDXS): What Technical Indicators Show

Codexis Inc. (NASDAQ:CDXS) saw an upside of 9.80% on Friday at $25.54 after adding $2.28. The 5-day average trading volume is 943,230 shares of the company’s common stock. It has gained $30.44 in the past week and touched a new high 2 times within the past 5 days. An average of 457,418 shares of the company has been traded in the last 20 days, and the 50-day average volume stands at 382,967.

CDXS’s 1-month performance is -13.92% or -$2.15 on its low of $22.60 reached on 09/29/21. The company’s shares have touched a 52-week low of $11.56 and high of $29.56, with the stock’s rally to the 52-week high happening on 10/01/21. YTD, CDXS has achieved 6.55% or $3.97 and has reached a new high 12 times. However, the current price is down -13.60%% from the 52-week high price.

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Insider Transactions

On Aug 13, 49 days have gone by since the last insider trading activity for Codexis Inc. (CDXS). NICOLS JOHN J (President and CEO) most recently sold 35,000 shares at $23.77 per share on Aug 13. This transaction cost the insider $831,796. President and CEO, NICOLS JOHN J, sold 35,000 shares at a price of $24.53 on Aug 12. Then, on Aug 10, Director KELLEY BERNARD J sold 20,000 shares at a price of $25.84 per share. This transaction amounted to $516,820.

Valuation Metrics

Codexis Inc. (CDXS) has a trailing price-to-earnings (P/E) ratio of 33.74 for the broader industry and 32.21 for the sector, meaning that investors are optimistic about the stock’s future prospects. CDXS stock has a beta of 1.30. Moving on to other valuation ratios, the trailing price-to-sales (P/S) ratio is 18.29 while the price-to-book (PB) in the most recent quarter is 9.19.

Codexis Inc.’s quick ratio for the period ended June 29 was 7.10, with the current ratio over the same period at 7.20 meaning that CDXS stock is able to fulfill its debt obligations. As well, the company’s long term debt to equity for the quarter ending June 29 was 0.00, while the total debt to equity was 0.00. In terms of profitability, the gross margin trailing 12 months is 78.20%The trailing 12-month EBITDA margin is -28.04% while for the period ending June 29; Codexis Inc.’s operating margin was -28.50%. The firm’s gross profit as reported stood at $55.31 million against revenue of $69.06 million.

The effectiveness of a company’s management is also important for investors when it comes to determining the potential profitability of the investment. Codexis Inc.’s return on assets over the past 12 months stands at -11.90%. Return on investment over the past year is -14.30%, while its return on equity (ROE) trailing 12 months is -15.90%. In comparison, the average ROE for the broader industry over the past year is -36.91.

Earnings Surprise

For the quarterly period ending June 29 this year, Codexis Inc.’s cash and short-term investments amounted to $1.29 million against total debt of $23.66 million. Net income and sales went up compared to those figures reported in the previous quarter. Analysts expected CDXS to announce -$0.17 per share in earnings in its latest quarter, but it posted -$0.07, representing a 58.80% surprise. EBITDA for the quarter stood at more than -$3.11 million. CDXS stock balance sheet for the quarter ending June 29 shows that total liabilities totaled 49.54 million, with total debt at $23.66 million. Shareholders hold equity totaling $64.64 million

Technical Picture

Let’s look briefly at Codexis Inc. (CDXS) price momentum from a technical analysis perspective. The 9-day relative strength index as at close on 30 September was 57.33% to suggest the stock is trending Neutral, with historical volatility in this time period at 72.35%.

The stock’s 5-day moving average is $24.08, reflecting a +0.90% or $0.23 change from its current price. CDXS is currently trading -7.82% above its 20-day SMA, +40.68% above its 100-day SMA. However, the stock’s current price level is away from the SMA50 and SMA200 by +21.64% and +33.61% respectively.

Stochastic %K and %D was 22.02% and 14.35% and the average true range (ATR) pointed at 1.76. The RSI (14) points at 54.89%, while the 14-day stochastic is at 40.82% with the period’s ATR at 1.53. The stock’s 9-day MACD Oscillator is pointing at -0.67 and -0.75 on the 14-day charts.

Analyst Ratings

In the most recent analyst report for Codexis Inc. (NASDAQ: CDXS), Piper Sandler launched coverage with an Overweight rating. Analysts offering their rating for CDXS stock have a consensus rating for the stock as Buy. Currently, 0 brokerage advisors rate CDXS as a “sell,”, while 0 advise that investors “Hold.” 0 analysts have rated the stock as underweight. 0 rates the stock as overweight while 7 have offered a “buy” rating.

What is CDXS’s price target for the next 12 months?

Analysts have a consensus price target ranging from a low of $25.00 and a high of $30.00, with their median price target at $30.00. Looking at these predictions, the average price target given by analysts is for Codexis Inc. (CDXS) stock is $28.86.


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