NICOLS JOHN J Acquires Codexis Inc. (CDXS) Shares

Codexis Inc. (NASDAQ:CDXS) trading with a subtraction of -$3.75 to $26.43 on Thursday, a downside of -12.44 percent. An average of 797,829 shares of common stock have been traded in the last five days. There was a fall of -$2.82 in the past week, and it reached a new high 31 times over the past 12 months. The last 20 days have seen an average of 866,897 shares traded, while the 50-day average volume stands at 544,579.

CDXS stock has increased by 20.77% in the last month. The company shares reached their 1-month lowest point of $22.60 on 09/29/21. With the stock rallying to its 52-week high on 10/08/21, shares of the company touched a low of $12.79 and a high of $32.42 in 52 weeks. It has reached a new high 14 times so far this year and achieved 38.25% or $5.93 in price. In spite of this, the price is down -18.49% from the 52-week high.

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Insider Transactions

62 days have passed since Codexis Inc. (CDXS) last reported insider trading activity. NICOLS JOHN J, who is President and CEO, most recently acquired $35,000 shares at $23.77 per share on Aug 13. In this transaction, the insider spent $831,796. President and CEO, NICOLS JOHN J, disposed of 35,000 shares at a price of $24.53 on Aug 12. The insider now owns more than $858,546 worth of shares. Prior to that, Director KELLEY BERNARD J went on to Sale 20,000 shares at $25.84 each on Aug 10. An amount of $516,820 was transacted.

Valuation Metrics

Codexis Inc. (CDXS) has a trailing price-to-earnings (P/E) ratio of 34.65 for the broader industry and 32.78 for the sector. The stock’s beta is 1.40. Other valuation ratios to consider include the trailing price-to-sales (P/S) ratio at 22.32, the price-to-book (PB) ratio at 11.93.

The quick ratio of Codexis Inc. for the three months ended June 29 was 7.10, and the current ratio was 7.20, indicating that the company is able to meet its debt obligations. Further, the company has a long term debt to equity ratio of 0.00 and a total debt to equity ratio of 0.00 for the quarter ending June 29. On the profitability front, the trailing 12-month gross margin is 78.20% against a 5-year average of 77.6%. Codexis Inc.’s EBITDA margin for the year ending June 29 is -28.04%, while its operating margin for the same period stands at -28.50%. Its gross profit as reported stood at $55.31 million compared to revenue of $69.06 million.

For investors, determining the potential profitability of the investment also depends on the performance of the company’s management. In the past 12 months, Codexis Inc.’s return on assets was -11.90%, compared to -22.5% over the last five years. In the past year, the return on investment has been -14.30%, and the 5-year average is -39.9%. Meanwhile, the return on equity (ROE) for the past 12 months has been -15.90% and the 5-year average holds at -41.0%. For the broader industry, ROE averaged -68.79 over the past year.

Earnings Surprise

For the three-month period that ended June 29, Codexis Inc. had $1.29 million in cash. In the quarter under review, the net income was up than the previous quarter. The company posted a net income of -$4.27 million in the quarter, while revenues of -$9.07 million were shrunk -79.16%. The analyst consensus anticipated Codexis Inc.’s latest quarter earnings to come in at -$0.17 per share, but it turned out to be -$0.07, a 58.80% surprise. For the quarter, EBITDA amounted to -$3.11 million. Shareholders own equity worth $64.64 million.

Technical Picture

From a technical analysis perspective, let’s take a brief look at Codexis Inc. (CDXS) price momentum. RSI 9-day as of the close on 13 October was 49.75%, suggesting the stock is Neutral, with historical volatility in this time frame at 104.94%.

As of today, CDXS’s price is $30.14 -9.22% or -$2.82 from its 5-day moving average. CDXS is currently trading +12.80% higher than its 20-day SMA and +41.27% higher than its 100-day SMA. However, the stock’s current price level is +28.52% above the SMA50 and +28.16% above the SMA200.

The stochastic %K and %D were 71.18% and 77.86%, respectively, and the average true range (ATR) was 2.06. With the 14-day stochastic at 52.55% and the average true range at 1.85, the RSI (14) stands at 52.41%. The stock has reached 0.51 on the 9-day MACD Oscillator while the 14-day reading was at 2.27.

Analyst Ratings

Piper Sandler launched coverage on Codexis Inc. (NASDAQ: CDXS) in its analyst report released on April 12, 2021. The firm assigned the stock a an Overweight rating.The consensus rating for Codexis Inc. (CDXS) among analysts is Buy. According to current brokerage recommendations, 0 brokerage firms advise that investors sell CDXS, while 0 suggest investors hold. There are 0 analysts who rate the stock as underweight. The stock is rated overweight by 0 analysts, while 7 others rate it as a “buy”.

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

Analysts predict a range of price targets between $25.00 and $33.00, with a median target of $30.00. Taking a look at these predictions, the average price target given by analysts for Codexis Inc. (CDXS) stock is $29.29.


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