Codexis Inc. (NASDAQ:CDXS) finished Wednesday with a subtraction of -$0.1 to close at $2.19, a downside of -4.37 percent. An average of 1,399,160 shares of common stock have been traded in the last five days. There was a fall of -$1.02 in the past week, and it reached a new high 2 times over the past 12 months. The last 20 days have seen an average of 1,069,255 shares traded, while the 50-day average volume stands at 1,071,886.
CDXS stock has decreased by -25.00% in the last month. The company shares reached their 1-month lowest point of $2.14 on 08/09/23. With the stock rallying to its 52-week high on 02/02/23, shares of the company touched a low of $2.18 and a high of $9.29 in 52 weeks. It has reached a new high 14 times so far this year and lost -53.00% or -$2.47 in price. In spite of this, the price is down -76.43% from the 52-week high.
Insider Transactions
CDXS stock investors should be aware that Codexis Inc. (CDXS) stock had its last reported insider trading activity 114 days ago on Apr 18. In this transaction, the insider spent $147,874. Director, NICOLS JOHN J, disposed of 35,714 shares at a price of $4.24 on Apr 17. The insider now owns more than $151,377 worth of shares. Prior to that, Director NICOLS JOHN J went on to Sale 35,714 shares at $4.11 each on Mar 16. An amount of $146,681 was transacted.
Valuation Metrics
Codexis Inc. (CDXS) stock’s beta is 1.76. Other valuation ratios to consider include the trailing price-to-sales (P/S) ratio at 1.47, the price-to-book (PB) ratio at 1.15, and the price-to-cash flow ratio at 58.98.
Financial Health
The quick ratio of Codexis Inc. for the three months ended June 29 was 3.30, and the current ratio was 3.40, 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. Codexis Inc.’s EBITDA margin for the year ending June 29 is -15.49%, while its operating margin for the same period stands at -30.00%. Its gross profit as reported stood at $100.56 million compared to revenue of $138.59 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 -14.30%.
Earnings Surprise
In the quarter under review, the net income was up than the previous quarter. The company posted a net income of -$11.52 million in the quarter, while revenues of -$22.62 million were grew 77.08%. The analyst consensus anticipated Codexis Inc.’s latest quarter earnings to come in at -$0.21 per share, but it turned out to be -$0.17, a 19.00% surprise. For the quarter, EBITDA amounted to -$9.88 million. Shareholders own equity worth $69.8 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 09 August was 23.89%, suggesting the stock is oversold, with historical volatility in this time frame at 108.85%.
As of today, CDXS’s price is $2.65 -31.78% or -$1.02 from its 5-day moving average. CDXS is currently trading -28.66% lower than its 20-day SMA and -46.84% lower than its 100-day SMA. However, the stock’s current price level is -11.34% below the SMA50 and -56.20% below the SMA200.
The stochastic %K and %D were 3.05% and 7.72%, respectively, and the average true range (ATR) was 0.28. With the 14-day stochastic at 2.94% and the average true range at 0.26, the RSI (14) stands at 31.02%. The stock has reached -0.68 on the 9-day MACD Oscillator while the 14-day reading was at -0.88.
Analyst Ratings
TD Cowen downgraded Codexis Inc. (NASDAQ: CDXS) to a a Market perform rating in its most recent analyst report. Previously, the stock was rated as an Outperform. 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 1 suggest investors hold. There are 0 analysts who rate the stock as underweight. The stock is rated overweight by 0 analysts, while 6 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 $4.00 and $14.00, with a median target of $9.00. Taking a look at these predictions, the average price target given by analysts for Codexis Inc. (CDXS) stock is $8.50.
