Codexis Inc. (NASDAQ:CDXS) saw an upside of 1.73% to close Tuesday at $1.76 after adding $0.03 on the day. The 5-day average trading volume is 1,366,400 shares of the company’s common stock. It has gained $1.8650 in the past week and touched a new high 2 times within the past 5 days. An average of 1,218,470 shares of the company has been traded in the last 20 days, and the 50-day average volume stands at 1,038,978.
CDXS’s 1-month performance is -51.11% or -$1.9900 on its low of $1.5800 reached on 08/18/23. The company’s shares have touched a 52-week low of $1.58 and high of $8.12, with the stock’s rally to the 52-week high happening on 02/02/23. YTD, CDXS has lost -62.23% or -$2.9000 and has reached a new high 14 times. However, the current price is down -78.33% from the 52-week high price.
Insider Transactions
CDXS stock investors last saw insider trading activity on Apr 18.NICOLS JOHN J (Director) most recently sold 35,714 shares at $4.14 per share on Apr 18. This transaction cost the insider $147,874. Director, NICOLS JOHN J, sold 35,714 shares at a price of $4.24 on Apr 17. Then, on Mar 16, Director NICOLS JOHN J sold 35,714 shares at a price of $4.11 per share. This transaction amounted to $146,681.
Valuation Metrics
CDXS stock has a beta of 1.83. Moving on to other valuation ratios, the trailing price-to-sales (P/S) ratio is 1.26 while the price-to-book (PB) in the most recent quarter is 0.96.
Codexis Inc.’s quick ratio for the period ended June 29 was 3.30, with the current ratio over the same period at 3.40.. In terms of profitability, the gross margin trailing 12 months is 73.80%. The trailing 12-month EBITDA margin is -15.49% while for the period ending June 29, Codexis Inc.’s operating margin was -60.60%. The firm’s gross profit as reported stood at $100.56 million against revenue of $138.59 million.
Earnings Surprise
For the quarterly period ending June 29 this year, Net income and sales went up compared to those figures reported in the previous quarter. Net income grew 77.08% to -$11.52 million, while revenue of -$22.62 million was -96.35% off the previous quarter. Analysts expected CDXS to announce -$0.21 per share in earnings in its latest quarter, but it posted -$0.17, representing a 19.00% surprise. EBITDA for the quarter stood at more than -$9.88 million. CDXS stock balance sheet for the quarter ending June 29 shows that total liabilities totaled 82.63 million, with total debt at $41.01 million. Shareholders hold equity totaling $69.8 million.
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 22 August was 23.96% to suggest the stock is trending oversold, with historical volatility in this time period at 53.91%.
The stock’s 5-day moving average is $1.7090, reflecting a -4.35% or -$0.0800 change from its current price. CDXS is currently trading -48.84% above its 20-day SMA, -57.07% above its 100-day SMA. However, the stock’s current price level is away from the SMA50 by -30.71% and SMA200 by-69.39%.
Stochastic %K and %D was 6.67% and 4.59% and the average true range (ATR) pointed at 0.1943. The RSI (14) points at 28.25%, while the 14-day stochastic is at 8.78% with the period’s ATR at 0.2068. The stock’s 9-day MACD Oscillator is pointing at -0.1250 and -0.4130 on the 14-day charts.
Analyst Ratings
In the most recent analyst report for Codexis Inc. (NASDAQ: CDXS), TD Cowen downgraded it to a Market perform rating. They previously had an Outperform rating on the stock. 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 1 advise that investors “Hold.” 0 analysts have rated the stock as underweight. 0 rates the stock as overweight while 6 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 $4.00 and a high of $14.00, with their median price target at $6.50. Looking at these predictions, the average price target given by analysts is for Codexis Inc. (CDXS) stock is $7.93.
