Codexis (NASDAQ:CDXS) Stock Price Passes Above Two Hundred Day Moving Average - Here's What Happened

Key Points

• Codexis' stock price surpassed its 200-day moving average, reaching a high of $2.73 during trading, with a last traded price of $2.69.
• Brokerages are showing mixed sentiments, with Weiss Ratings maintaining a "sell" rating while Wall Street Zen upgraded the stock to "hold"; Codexis has a current consensus rating of "Hold" and price target of $11.00.
• Codexis reported a quarterly earnings performance that exceeded expectations, with a revenue of $15.33 million and an EPS of ($0.16), beating the consensus estimate of ($0.17).

Codexis, Inc. (NASDAQ:CDXS - Get Free Report)'s stock price crossed above its two hundred day moving average during trading on Monday . The stock has a two hundred day moving average of $2.55 and traded as high as $2.73. Codexis shares last traded at $2.69, with a volume of 713,971 shares traded.

Analyst Ratings Changes

A number of brokerages recently commented on CDXS. Weiss Ratings restated a "sell (e+)" rating on shares of Codexis in a research note on Saturday, September 27th. Wall Street Zen raised shares of Codexis from a "strong sell" rating to a "hold" rating in a report on Saturday, August 16th. One research analyst has rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company's stock. According to data from MarketBeat.com, Codexis currently has a consensus rating of "Hold" and a consensus price target of $11.00.

Codexis Price Performance

The company's 50 day moving average price is $2.64 and its 200 day moving average price is $2.55. The company has a debt-to-equity ratio of 0.71, a quick ratio of 5.70 and a current ratio of 5.82. The company has a market cap of $242.83 million, a price-to-earnings ratio of -3.24 and a beta of 2.50.

Codexis (NASDAQ:CDXS - Get Free Report) last announced its quarterly earnings results on Wednesday, August 13th. The biotechnology company reported ($0.16) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.17) by $0.01. The firm had revenue of $15.33 million during the quarter, compared to the consensus estimate of $14.18 million. Codexis had a negative net margin of 113.67% and a negative return on equity of 105.83%. On average, equities research analysts predict that Codexis, Inc. will post -0.77 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Codexis

A number of hedge funds and other institutional investors have recently bought and sold shares of CDXS. State of Wyoming bought a new position in Codexis in the 2nd quarter valued at $25,000. Integrity Alliance LLC. acquired a new stake in shares of Codexis in the first quarter valued at $30,000. US Bancorp DE raised its holdings in shares of Codexis by 11,125.0% in the first quarter. US Bancorp DE now owns 17,960 shares of the biotechnology company's stock valued at $48,000 after buying an additional 17,800 shares during the last quarter. Osaic Holdings Inc. raised its holdings in shares of Codexis by 1,922.9% in the second quarter. Osaic Holdings Inc. now owns 20,634 shares of the biotechnology company's stock valued at $50,000 after buying an additional 19,614 shares during the last quarter. Finally, Elmwood Wealth Management Inc. acquired a new position in Codexis during the 2nd quarter worth about $53,000. 78.54% of the stock is owned by institutional investors and hedge funds.

Codexis Company Profile

Codexis, Inc discovers, develops, and sells enzymes and other proteins. The company operates through two segments, Performance Enzymes and Novel Biotherapeutics. It offers biocatalyst products and services. The company also provides biocatalyst screening and protein engineering services. In addition, it offers CodeEvolver, a technology platform, which helps in developing and delivering biocatalysts that perform chemical transformations and enhance the efficiency and productivity of manufacturing processes.

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