An investigation into Codexis Inc. (NASDAQ:CDXS)’s technical aspects

After finishing at $6.07 in the prior trading day, Codexis Inc. (NASDAQ: CDXS) closed at $6.51, up 7.25%. In other words, the price has increased by $+0.44 from its previous closing price. On the day, 1044093 shares were traded. CDXS stock price reached its highest trading level at $6.59 during the session, while it also had its lowest trading level at $6.26.

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Our goal is to gain a better understanding of CDXS by taking a closer look at its different ratios. For the most recent quarter (mrq), Quick Ratio is recorded 4.50 and its Current Ratio is at 4.60. 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:

The insider trade also gives investors a glimpse into the future direction of stock prices, which can be beneficial to investors. A recent insider transaction in this stock occurred on Dec 12 when NICOLS JOHN J sold 35,714 shares for $5.68 per share. The transaction valued at 202,820 led to the insider holds 863,535 shares of the business.

NICOLS JOHN J sold 39,785 shares of CDXS for $224,996 on Dec 09. The Director now owns 863,535 shares after completing the transaction at $5.66 per share. On Nov 16, another insider, NICOLS JOHN J, who serves as the Director of the company, sold 35,714 shares for $6.36 each. As a result, the insider received 227,312 and left with 903,320 shares of the company.

Valuation Measures:

For the stock, the TTM Price-to-Sale (P/S) ratio is 3.00 while its Price-to-Book (P/B) ratio in mrq is 2.76.

Stock Price History:

Over the past 52 weeks, CDXS has reached a high of $22.22, while it has fallen to a 52-week low of $4.21. The 50-Day Moving Average of the stock is 5.50, while the 200-Day Moving Average is calculated to be 8.34.

Shares Statistics:

The stock has traded on average 824.03K shares per day over the past 3-months and 872.8k shares per day over the last 10 days, according to various share statistics. A total of 65.43M shares are outstanding, with a floating share count of 64.01M. Insiders hold about 1.40% of the company’s shares, while institutions hold 95.90% stake in the company. Shares short for CDXS as of Oct 13, 2022 were 5.33M with a Short Ratio of 5.45M, compared to 5.5M on Sep 14, 2022. Therefore, it implies a Short% of Shares Outstanding of 8.14% and a Short% of Float of 9.37%.

Earnings Estimates

Its stock is currently analyzed by 8 different market analysts. On average, analysts expect EPS of -$0.19 for the current quarter, with a high estimate of -$0.12 and a low estimate of -$0.22, while EPS last year was $0.03. The consensus estimate for the next quarter is -$0.18, with high estimates of -$0.12 and low estimates of -$0.23.

Analysts are recommending an EPS of between -$0.43 and -$0.61 for the fiscal current year, implying an average EPS of -$0.53. EPS for the following year is -$0.98, with 7 analysts recommending between -$0.7 and -$1.3.

Revenue Estimates

8 analysts predict $30.94M in revenue for the current quarter. It ranges from a high estimate of $32.42M to a low estimate of $29.47M. As of the current estimate, Codexis Inc.’s year-ago sales were $36.77M, an estimated decrease of -15.90% from the year-ago figure. For the next quarter, 8 analysts are estimating revenue of $32.5M, an increase of 32.60% over than the figure of -$15.90% in the same quarter last year. There is a high estimate of $34.48M for the next quarter, whereas the lowest estimate is $28.42M.

A total of 8 analysts have provided revenue estimates for CDXS’s current fiscal year. The highest revenue estimate was $139.66M, while the lowest revenue estimate was $134.58M, resulting in an average revenue estimate of $137.1M. In the same quarter a year ago, actual revenue was $104.75M, up 30.90% from the average estimate. Based on 7 analysts’ estimates, the company’s revenue will be $99.43M in the next fiscal year. The high estimate is $127.47M and the low estimate is $81.55M. The average revenue growth estimate for next year is down -27.50% from the average revenue estimate for this year.