Codexis, Inc. (NASDAQ:CDXS)’s traded shares stood at 638,638 during the last session, with the company’s beta value hitting 1.17. At the close of trading, the stock’s price was $25.77, to imply an increase of 4.69% or $1.15 in intraday trading. The CDXS share’s 52-week high remains $29.56, putting it -14.71% down since that peak but still an impressive +67.29% since price per share fell to its 52-week low of $8.43. The company has a valuation of $1.66 Billion, with an average of 554.64 Million shares in intraday trading volume over the past 10 days and average of 701.14 Million shares over the past 3 months.
Analysts have given a consensus recommendation of Buy for Codexis, Inc. (CDXS), translating to a mean rating of 1.7. Of 6 analyst(s) looking at the stock, none analyst(s) give CDXS a Sell rating. None of those analysts rate the stock as Overweight while no one advise Hold as 6 recommend it as a Buy. None analyst(s) have given it an Underweight rating. Estimates put the company’s current-quarter earnings per share at -$0.12.
Codexis, Inc. (NASDAQ:CDXS) trade information
After registering a 4.69% upside in the last session, Codexis, Inc. (CDXS) has traded red over the past five days. The stock hit a weekly high of $27.19 this Friday, Feb 12, jumping 5.2% in its intraday price action. The 5-day price performance for the stock is -3.36%, and -2.37% over 30 days. Despite these dips, the year-to-date price performance is 18.07%. Short interest in Codexis, Inc. (NASDAQ:CDXS) saw shorts transact 5.02 Million shares and set a 0.01 days time to cover.
Analysts on Wall Street suggest a consensus price target of $24.83, implying a decline of -3.65% to the stock’s current value. The extremes give us $21 and $29 for target low and target high price respectively. As such, CDXS has been trading 12.53% off suggested target high and -18.51% from its likely low.
Codexis, Inc. (CDXS) estimates and forecasts
Looking at statistics comparing Codexis, Inc. share performance against respective industry, we note that the company has underperformed competitors. Codexis, Inc. (CDXS) shares are +89.8% up over the last 6 months, with its year-to-date growth rate lower than industry average at -683.33% against 14%. But the analysts are tempering their growth estimates for the 2021 fiscal year. Revenue is forecast to decline -1100% this quarter before falling -7.7% for the next one. The rating firms project that company’s revenue will grow 0.6% compared to the previous financial year.
Revenue forecast for the current quarter as set by 6 analysts is $20.88 Million. Meanwhile, for the quarter ending March 01, 2021, a total of 5 analyst(s) estimate revenue growth to $17.35 Million. Earnings reports from the last fiscal year show that sales brought in $18.65 Million and $14.67 Million respectively in the corresponding quarters. In this case, analysts estimate current quarter sales to rise 12% before jumping 18.3% in the following quarter.
An assessment of the company’s 5-year growth patterns shows that annual earnings grew an estimated 15.8% for the past 5-year period. While 2021 is set for a -1.3% return in earnings, projections for the next 5 years are at 15% annually.
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Codexis, Inc. (NASDAQ:CDXS)’s Major holders
Codexis, Inc. insiders hold 3.07% of total outstanding shares, with institutional holders owning 85.59% of the shares at 88.31% float percentage. In total, 185 institutions holds shares in the company, led by Baillie Gifford and Company. As of Dec 30, 2020, the company held over 5.8 Million shares (or 9.78% of shares), all amounting to roughly $126.51 Million.
The next major institution holding the largest number of shares is Nantahala Capital Management, LLC with 5.36 Million shares, or about 9.05% of shares outstanding. As of the market price on Sep 29, 2020, these shares were worth $62.97 Million.