At the last check on Friday, Codexis Inc.’s (NASDAQ:CDXS) stock was up $0.09, moving up 5.17 percent to $1.83. The average number of shares traded per day over the past five days has been 743,835 shares. 4 times new highs have been achieved over the past 5 days, with a $0.1850 gain in that time frame. In the last twenty days, the average volume was 1,141,664, while in the previous 50 days, it was 1,035,300.
Since last month, CDXS stock retreated -45.86%. Shares of the company fell to $1.5800 on 08/18/23, the lowest level in the past month. A 52-week high of $7.96 was reached on 02/02/23 after having rallying from a 52-week low of $1.58. Since the beginning of this year, CDXS’s stock price has dropped by -60.73% or -$2.8250, and marked a new high 14 times. However, the stock has declined by -77.01% since its 52-week high.
CDXS stock investors should be aware that Codexis Inc. (CDXS) stock had its last reported insider trading activity 136 days ago on Apr 18. NICOLS JOHN J, the Director of the company, disposed of 35,714 shares for $4.14 on Apr 18. It resulted in a $147,874 divestment by the insider. NICOLS JOHN J sold 35,714 shares at an average price of $4.24 on Apr 17. The insider now owns 783,965 shares following the transaction. On Mar 16, Director NICOLS JOHN J sold 35,714 shares at $4.11 apiece. The transaction was valued at $146,681.
Valuation Metrics
The stock’s beta is 1.78. Besides these, the trailing price-to-sales (P/S) ratio of 1.27, the price-to-book (PB) ratio of 0.99.
Financial Health
In the three months ended June 29, Codexis Inc.’s quick ratio stood at 3.30, while its current ratio was 3.40, showing that the company is able to pay off its debt. On the profitability front, the trailing twelve-month gross margin is 73.80% percent. In the year ended June 29, EBITDA margin amounted to -15.49%, whereas operating margins totaled -60.60%. Based on annual data, CDXS earned $100.56 million in gross profit and brought in $138.59 million in revenue.
A company’s management is another factor that investors consider when determining the profitability of an investment. In the past year, return on investment (ROI) was -24.30%. Return on equity (ROE) for the past 12 months was -41.30%.
According to the earnings report, the company had a higher net income in the recent quarter than it did in the previous quarter. CDXS’s revenue fell -80.16% to $12.98 million during the quarter, while net income inched up to $21.32 million. While analysts expected Codexis Inc. to report -$0.21 quarterly earnings, the actual figure was -$0.17 per share, beating the consensus estimate by 19.00%. During the quarter, the company generated -$9.88 million in EBITDA. The liabilities of Codexis Inc. were 82.63 million at the end of its most recent quarter ended June 29, and its total debt was $41.01 million. The value of shareholders’ equity is $69.8 million.
Technical Picture
This quick technical analysis looks at Codexis Inc.’s (CDXS) price momentum. With a historical volatility rate of 67.20%, the RSI 9-day stood at 42.66% on 31 August.
With respect to its five-day moving average, the current Codexis Inc. price is up by +11.21% percent or $0.1850. At present, CDXS shares trade -36.51% below its 20-day simple moving average and -55.02% percent below its 100-day simple moving average. However, the stock is currently trading approximately -33.27% below its SMA50 and -71.59% below its SMA200.
Stochastic coefficient K was 41.74% and Stochastic coefficient D was 33.13%, while ATR was 0.1401. Given the Stochastic reading of 62.20% for the 14-day period, the RSI (14) reading has been calculated as 38.00%. As of today, the MACD Oscillator reading stands at 0.0400, while the 14-day reading stands at 0.0448.
Analyst Ratings
Codexis Inc. downgraded its rating on Codexis Inc. (NASDAQ: CDXS) to a Market perform in a note to investors on August 07, 2023. The analysts firm previously had an Outperform rating on the stock.Codexis Inc. (CDXS) has been rated Buy by analysts. According to 0 brokerage firms, CDXS is a sell, and 1 firms recommend it is a Hold. There are 0 analysts who say the stock is underweight. A total of 0 analysts rate Codexis Inc. stock as buy, with 6 recommending it as overweight.
With a median target price of $6.00, the current consensus forecast for the stock is $4.00 – $14.00. Based on these forecasts, analysts predict Codexis Inc. (CDXS) will achieve an average price target of $7.71.
