Weiss Ratings Reiterates Sell (E+) Rating for Codexis (NASDAQ:CDXS)

Key Points

• Weiss Ratings has reiterated a "sell (E+)" rating for Codexis (NASDAQ:CDXS), reflecting ongoing concerns about the company's stock performance.
• In contrast, Wall Street Zen recently upgraded Codexis from a "strong sell" to a "hold" rating, indicating mixed market sentiments about the stock.
• Codexis reported earnings of ($0.16) per share for the last quarter, exceeding analysts' estimates, but continues to face challenges with a negative return on equity of 105.83%.

Codexis (NASDAQ:CDXS - Get Free Report)'s stock had its "sell (e+)" rating reaffirmed by Weiss Ratings in a research report issued on Wednesday,Weiss Ratings reports.

Separately, Wall Street Zen upgraded Codexis from a "strong sell" rating to a "hold" rating in a research note on Saturday, August 16th. One analyst has rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the company currently has a consensus rating of "Hold" and a consensus price target of $11.00.

Codexis Stock Performance

Shares of Codexis stock traded up $0.08 on Wednesday, hitting $2.64. The stock had a trading volume of 295,708 shares, compared to its average volume of 538,369. Codexis has a twelve month low of $1.90 and a twelve month high of $6.08. The business's 50 day moving average is $2.64 and its two-hundred day moving average is $2.55. The company has a quick ratio of 5.70, a current ratio of 5.82 and a debt-to-equity ratio of 0.71. The stock has a market cap of $238.31 million, a price-to-earnings ratio of -3.18 and a beta of 2.50.

Codexis (NASDAQ:CDXS - Get Free Report) last issued its quarterly earnings results on Wednesday, August 13th. The biotechnology company reported ($0.16) earnings per share (EPS) for the quarter, topping analysts' consensus estimates of ($0.17) by $0.01. The business had revenue of $15.33 million for the quarter, compared to the consensus estimate of $14.18 million. Codexis had a negative return on equity of 105.83% and a negative net margin of 113.67%. Analysts forecast that Codexis will post -0.77 EPS for the current year.

Institutional Investors Weigh In On Codexis

Several hedge funds and other institutional investors have recently modified their holdings of CDXS. State of Wyoming bought a new position in Codexis in the 2nd quarter valued at about $25,000. Integrity Alliance LLC. purchased a new position in Codexis in the 1st quarter valued at approximately $30,000. US Bancorp DE grew its stake in Codexis by 11,125.0% in the 1st 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 in the last quarter. Osaic Holdings Inc. grew its position in shares of Codexis by 1,922.9% during the 2nd quarter. Osaic Holdings Inc. now owns 20,634 shares of the biotechnology company's stock valued at $50,000 after purchasing an additional 19,614 shares in the last quarter. Finally, Elmwood Wealth Management Inc. purchased a new position in shares of Codexis during the 2nd quarter valued at $53,000. Institutional investors own 78.54% of the company's stock.

About Codexis

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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