Codexis, Inc. (NASDAQ:CDXS) Sees Significant Increase in Short Interest

Codexis, Inc. (NASDAQ:CDXS) experienced a significant rise in short interest during March. As of March 15th, short interest reached a total of 4,570,000 shares, marking an increase of 50.8% compared to 3,030,000 shares reported on February 28th. Currently, this accounts for 5.7% of the company's total stock being sold short. Based on the average daily trading volume of 843,500 shares, the short-interest ratio stands at approximately 5.4 days.

Institutional Inflows and Outflows

Recently, various institutional investors and hedge funds have altered their positions in Codexis. CenterBook Partners LP took a new position in the fourth quarter, investing about $4,688,000. Similarly, Tallon Kerry Patrick also acquired a new stake during the same period, valued at around $2,018,000. Vanguard Group Inc. increased its holdings in Codexis by 7.5% in the fourth quarter and now owns 4,463,801 shares, which are worth approximately $21,292,000 after purchasing an additional 311,082 shares in that timeframe. Furthermore, Telemark Asset Management LLC raised its stake by 11.3%, owning 3,000,000 shares valued at $14,310,000 after acquiring an extra 303,589 shares. Lastly, Nuveen Asset Management LLC also boosted its holdings by 18.6%, now owning 1,812,345 shares valued at about $8,645,000 after obtaining an additional 283,760 shares. In total, institutional investors and hedge funds hold approximately 78.54% of Codexis's stock.

Current Performance of Codexis Stock

On Friday, shares of CDXS opened at $2.81. The stock has a 50-day simple moving average of $3.71 and a 200-day simple moving average of $3.94. Over the past year, the stock has reached a low of $2.43 and a high of $6.08. Codexis has a debt-to-equity ratio of 0.39, a quick ratio of 3.15, and a current ratio of 3.21. The company is valued at a market capitalization of $232.77 million and has a price-to-earnings ratio of -3.23, along with a beta of 2.12.

Codexis reported its quarterly earnings on February 27th, revealing an earnings per share (EPS) of -$0.13, which was below the analysts' expectations of -$0.04 by $0.09. The company's revenue for the quarter was $21.46 million, falling short of the consensus estimate of $27.41 million. With a negative net margin of 96.35% and a negative return on equity of 71.56%, analysts are forecasting that Codexis will post an EPS of -0.77 for the current fiscal year.

Company Background

Codexis, Inc. focuses on discovering, developing, and selling enzymes and other proteins. The company operates through two main segments: Performance Enzymes and Novel Biotherapeutics. Its offerings include biocatalyst products and services, as well as screening and protein engineering services. Additionally, Codexis provides CodeEvolver, a technology platform that aids in developing and delivering biocatalysts to enhance manufacturing efficiency and productivity.

Codexis, ShortInterest, Investors