A correction may be in store for Codexis Inc. (NASDAQ:CDXS) shares?

In the latest session, Codexis Inc. (NASDAQ: CDXS) closed at 6.19 down -7.06% from its previous closing price of $6.66. In other words, the price has decreased by $-0.47 from its previous closing price. On the day, 1290180 shares were traded. CDXS reached its highest trading level at $6.61 during the session, while it also had its lowest trading level at $6.17.

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For a deeper understanding of Codexis Inc.’s stock, let’s take a closer look at its various ratios. For the most recent quarter (mrq), Quick Ratio is recorded 4.80 and its Current Ratio is at 4.80. In the meantime, Its Debt-to-Equity ratio is 0.00 whereas as Long-Term Debt/Eq ratio is at 0.00.

Upgrades & Downgrades

On April 12, 2021, Piper Sandler started tracking the stock assigning a Overweight rating and target price of $32.Piper Sandler initiated its Overweight rating on April 12, 2021, with a $32 target price.

Insider Transactions:

Additionally, insider trades can be beneficial to investors who want to learn what the management thinks about stock prices in the future. A recent insider transaction in this stock occurred on Aug 15 when NICOLS JOHN J sold 39,000 shares for $8.78 per share. The transaction valued at 342,580 led to the insider holds 1,022,679 shares of the business.

NICOLS JOHN J sold 38,500 shares of CDXS for $331,774 on Aug 12. The Director now owns 1,022,679 shares after completing the transaction at $8.62 per share. On May 12, another insider, NICOLS JOHN J, who serves as the President and CEO of the company, sold 38,500 shares for $10.31 each. As a result, the insider received 397,121 and left with 1,022,679 shares of the company.

Valuation Measures:

For the stock, the TTM Price-to-Sale (P/S) ratio is 3.16 while its Price-to-Book (P/B) ratio in mrq is 2.54.

Stock Price History:

Over the past 52 weeks, CDXS has reached a high of $42.01, while it has fallen to a 52-week low of $6.15. The 50-Day Moving Average of the stock is 7.61, while the 200-Day Moving Average is calculated to be 15.55.

Shares Statistics:

For the past three months, CDXS has traded an average of 1.05M shares per day and 668.82k over the past ten days. A total of 65.29M shares are outstanding, with a floating share count of 63.77M. Insiders hold about 2.20% of the company’s shares, while institutions hold 99.99% stake in the company. Shares short for CDXS as of Jul 14, 2022 were 5.53M with a Short Ratio of 5.23, compared to 5.24M on Jun 14, 2022. Therefore, it implies a Short% of Shares Outstanding of 8.47% and a Short% of Float of 9.76%.

Earnings Estimates

There are 8 different market analysts currently analyzing its stock. On average, analysts expect EPS of $-0.13 for the current quarter, with a high estimate of $-0.08 and a low estimate of $-0.18, while EPS last year was $-0.07. The consensus estimate for the next quarter is $-0.19, with high estimates of $-0.12 and low estimates of $-0.25.

Analysts are recommending an EPS of between $-0.46 and $-0.78 for the fiscal current year, implying an average EPS of $-0.65. EPS for the following year is $-0.96, with 7 analysts recommending between $-0.58 and $-1.35.

Revenue Estimates

A total of 6 analysts have provided revenue estimates for CDXS’s current fiscal year. The highest revenue estimate was $139M, while the lowest revenue estimate was $135.25M, resulting in an average revenue estimate of $137.67M. In the same quarter a year ago, actual revenue was $104.75M, up 31.40% from the average estimate. Based on 7 analysts’ estimates, the company’s revenue will be $121.4M in the next fiscal year. The high estimate is $158.8M and the low estimate is $77.28M. The average revenue growth estimate for next year is down -11.80% from the average revenue estimate for this year.