Codexis Inc. [CDXS] is 46.40% higher this YTD. Is it still time to buy?

Codexis Inc. [NASDAQ: CDXS] jumped around 3.26 points on Tuesday, while shares priced at $23.41 at the close of the session, up 16.18%. The company report on December 3, 2020 that Codexis Announces Pricing of Public Offering of Common Stock.

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Codexis, Inc. (Nasdaq:CDXS), a leading protein engineering company, announced the pricing of an underwritten public offering of 4,285,715 shares of its common stock at a public offering price of $17.50 per share. Net proceeds to Codexis from the offering are expected to be approximately $70.2 million after underwriting discounts and commissions and estimated offering expenses. The offering is expected to close on or about December 7, 2020, subject to customary closing conditions. Codexis has granted the underwriters of the offering the right for a period of 30 days to purchase up to an additional 642,857 shares of common stock at the public offering price, less underwriting discounts and commissions.

Jefferies LLC, Cowen and Company, LLC and Stifel, Nicolaus & Company, Incorporated are acting as joint book-running managers for the offering. Craig-Hallum Capital Group LLC and Stephens Inc. are acting as co-managers. The Benchmark Company acted as a financial advisor to Codexis in connection with the offering.

Codexis Inc. stock is now 46.40% up from its year-to-date (YTD) trading value. CDXS Stock saw the intraday high of $23.46 and lowest of $20.50 per share. The company’s 52-week high price is 20.43, which means current price is +177.70% above from all time high which was touched on 12/22/20.

Compared to the average trading volume of 436.30K shares, CDXS reached a trading volume of 1764308 in the most recent trading day, which is why market watchdogs consider the stock to be active.

What do top market gurus say about Codexis Inc. [CDXS]?

Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for CDXS shares is $20.00 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on CDXS stock is a recommendation set at 1.70. This rating represents a strong Buy recommendation, on the scale from 1 to 5, where 5 would mean strong sell, 4 represents Sell, 3 is Hold, and 2 indicates Buy.

The Benchmark Company have made an estimate for Codexis Inc. shares, keeping their opinion on the stock as Buy, with their previous recommendation back on March 10, 2020. While these analysts kept the previous recommendation, First Analysis Sec raised their target price from $12 to $19. The new note on the price target was released on January 17, 2019, representing the official price target for Codexis Inc. stock. Previously, the target price had yet another raise to $16, while Stephens analysts kept a Overweight rating on CDXS stock. On October 13, 2017, analysts increased their price target for CDXS shares from 8 to 8.50.

The Average True Range (ATR) for Codexis Inc. is set at 1.02, with the Price to Sales ratio for CDXS stock in the period of the last 12 months amounting to 22.58. The Price to Book ratio for the last quarter was 15.20, with the Price to Cash per share for the same quarter was set at 1.11.

How has CDXS stock performed recently?

Codexis Inc. [CDXS] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 21.23. With this latest performance, CDXS shares gained by 34.93% in over the last four-week period, additionally plugging by 120.02% over the last 6 months – not to mention a rise of 38.11% in the past year of trading.

Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for CDXS stock in for the last two-week period is set at 80.56, with the RSI for the last a single of trading hit 84.93, and the three-weeks RSI is set at 77.37 for Codexis Inc. [CDXS]. The present Moving Average for the last 50 days of trading for this stock 16.32, while it was recorded at 20.44 for the last single week of trading, and 12.89 for the last 200 days.

Codexis Inc. [CDXS]: Deeper insight into the fundamentals

Operating Margin for any stock indicates how profitable investing would be, and Codexis Inc. [CDXS] shares currently have an operating margin of -18.33 and a Gross Margin at +74.57. Codexis Inc.’s Net Margin is presently recorded at -17.43.

Return on Total Capital for CDXS is now -13.35, given the latest momentum, and Return on Invested Capital for the company is -12.78. Return on Equity for this stock declined to -14.75, with Return on Assets sitting at -10.45. When it comes to the capital structure of this company, Codexis Inc. [CDXS] has a Total Debt to Total Equity ratio set at 24.75. Additionally, CDXS Total Debt to Total Capital is recorded at 19.84, with Total Debt to Total Assets ending up at 17.52. Long-Term Debt to Equity for the company is recorded at 23.65, with the Long-Term Debt to Total Capital now at 18.95.

Reflecting on the efficiency of the workforce at the company, Codexis Inc. [CDXS] managed to generate an average of -$74,130 per employee. Receivables Turnover for the company is 4.07 with a Total Asset Turnover recorded at a value of 0.60.Codexis Inc.’s liquidity data is similarly interesting compelling, with a Quick Ratio of 5.00 and a Current Ratio set at 5.00.

Earnings analysis for Codexis Inc. [CDXS]

With the latest financial reports released by the company, Codexis Inc. posted -0.01/share EPS, while the average EPS was predicted by analysts to be reported at 0/share. The progress of the company may be observed through the prism of EPS growth rate, while Wall Street analysts are focusing on predicting the 5-year EPS growth rate for CDXS. When it comes to the mentioned value, analysts are expecting to see the 5-year EPS growth rate for Codexis Inc. go to 15.00%.

Insider trade positions for Codexis Inc. [CDXS]

There are presently around $1,267 million, or 85.60% of CDXS stock, in the hands of institutional investors. The top three institutional holders of CDXS stocks are: NANTAHALA CAPITAL MANAGEMENT, LLC with ownership of 5,363,484, which is approximately 0% of the company’s market cap and around 0.70% of the total institutional ownership; BAILLIE GIFFORD & CO, holding 5,361,261 shares of the stock with an approximate value of $108.03 million in CDXS stocks shares; and CASDIN CAPITAL, LLC, currently with $80.3 million in CDXS stock with ownership of nearly -15.081% of the company’s market capitalization.

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Positions in Codexis Inc. stocks held by institutional investors increased at the end of November and at the time of the November reporting period, where 53 institutional holders increased their position in Codexis Inc. [NASDAQ:CDXS] by around 2,578,265 shares. Additionally, 63 investors decreased positions by around 2,522,095 shares, while 29 investors held positions by with 49,041,664 shares. The mentioned changes placed institutional holdings at 54,142,024 shares, according to the latest SEC report filing. CDXS stock had 17 new institutional investments in for a total of 1,162,486 shares, while 16 institutional investors sold positions of 724,280 shares during the same period.

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