Prescott Group Capital Management L.L.C. Has $1.53 Million Position in Codexis, Inc. (NASDAQ:CDXS)

Key Points

• Prescott Group Capital Management L.L.C. increased its stake in Codexis, Inc. by 91.5% during Q1, now owning 568,974 shares valued at approximately $1.53 million.
• Codexis reported a quarterly loss of ($0.25) EPS, falling short of the expected ($0.20), alongside revenue of $7.54 million against an expectation of $10.38 million.
• Hedge funds and institutional investors collectively own 78.54% of Codexis' stock, indicating significant institutional interest in the company.

Prescott Group Capital Management L.L.C. increased its position in Codexis, Inc. (NASDAQ:CDXS - Free Report) by 91.5% during the first quarter, according to its most recent Form 13F filing with the SEC. The fund owned 568,974 shares of the biotechnology company's stock after buying an additional 271,800 shares during the period. Prescott Group Capital Management L.L.C. owned 0.69% of Codexis worth $1,531,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently added to or reduced their stakes in CDXS. Charles Schwab Investment Management Inc. boosted its position in Codexis by 12.2% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 239,720 shares of the biotechnology company's stock worth $1,143,000 after purchasing an additional 26,052 shares during the period. Commonwealth Equity Services LLC lifted its holdings in shares of Codexis by 30.3% during the fourth quarter. Commonwealth Equity Services LLC now owns 75,951 shares of the biotechnology company's stock worth $362,000 after buying an additional 17,657 shares during the last quarter. Intech Investment Management LLC boosted its position in shares of Codexis by 55.1% in the fourth quarter. Intech Investment Management LLC now owns 33,111 shares of the biotechnology company's stock valued at $158,000 after acquiring an additional 11,757 shares during the period. LPL Financial LLC boosted its position in shares of Codexis by 18.7% in the fourth quarter. LPL Financial LLC now owns 223,995 shares of the biotechnology company's stock valued at $1,068,000 after acquiring an additional 35,335 shares during the period. Finally, Vanguard Group Inc. boosted its position in shares of Codexis by 7.5% in the fourth quarter. Vanguard Group Inc. now owns 4,463,801 shares of the biotechnology company's stock valued at $21,292,000 after acquiring an additional 311,082 shares during the period. Institutional investors and hedge funds own 78.54% of the company's stock.

Codexis Stock Performance

Shares of CDXS traded down $0.15 during mid-day trading on Tuesday, hitting $2.90. The company's stock had a trading volume of 441,281 shares, compared to its average volume of 856,169. Codexis, Inc. has a one year low of $1.90 and a one year high of $6.08. The company has a debt-to-equity ratio of 0.59, a quick ratio of 3.64 and a current ratio of 3.72. The firm has a market capitalization of $239.84 million, a PE ratio of -2.93 and a beta of 2.52. The stock's 50-day moving average is $2.58 and its two-hundred day moving average is $2.98.

Codexis (NASDAQ:CDXS - Get Free Report) last issued its earnings results on Wednesday, May 14th. The biotechnology company reported ($0.25) EPS for the quarter, missing analysts' consensus estimates of ($0.20) by ($0.05). The firm had revenue of $7.54 million during the quarter, compared to analyst estimates of $10.38 million. Codexis had a negative net margin of 149.47% and a negative return on equity of 118.47%. As a group, sell-side analysts anticipate that Codexis, Inc. will post -0.77 EPS for the current year.

Wall Street Analyst Weigh In

Separately, Wall Street Zen raised Codexis to a "sell" rating in a research report on Friday, May 16th.

Codexis 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.