Short Interest in Calyxt Inc (NASDAQ:CLXT) Declines By 15.6%

Calyxt Inc (NASDAQ:CLXT) was the recipient of a large decrease in short interest during the month of October. As of October 31st, there was short interest totalling 501,900 shares, a decrease of 15.6% from the September 30th total of 594,600 shares. Based on an average daily volume of 70,500 shares, the short-interest ratio is currently 7.1 days. Currently, 5.0% of the shares of the stock are sold short.

Shares of CLXT traded down $0.09 during mid-day trading on Friday, hitting $3.94. 93,300 shares of the company were exchanged, compared to its average volume of 93,770. The company has a 50 day moving average of $4.83 and a 200-day moving average of $9.21. Calyxt has a 1-year low of $3.83 and a 1-year high of $19.30. The company has a debt-to-equity ratio of 0.25, a quick ratio of 11.97 and a current ratio of 12.38. The stock has a market cap of $142.02 million, a price-to-earnings ratio of -4.33 and a beta of 2.41.

Calyxt (NASDAQ:CLXT) last posted its quarterly earnings data on Wednesday, November 6th. The company reported ($0.32) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($0.31) by ($0.01). The company had revenue of $2.97 million for the quarter. Calyxt had a negative return on equity of 43.09% and a negative net margin of 1,016.27%. Research analysts anticipate that Calyxt will post -1.11 earnings per share for the current fiscal year.

Large investors have recently bought and sold shares of the stock. River & Mercantile Asset Management LLP purchased a new position in shares of Calyxt during the 2nd quarter worth approximately $146,000. Swiss National Bank purchased a new position in shares of Calyxt during the 2nd quarter worth approximately $228,000. Charles Schwab Investment Management Inc. boosted its position in shares of Calyxt by 56.5% during the 2nd quarter. Charles Schwab Investment Management Inc. now owns 21,848 shares of the company’s stock worth $273,000 after purchasing an additional 7,887 shares during the period. Essex Investment Management Co. LLC boosted its position in shares of Calyxt by 91.4% during the 3rd quarter. Essex Investment Management Co. LLC now owns 22,436 shares of the company’s stock worth $127,000 after purchasing an additional 10,716 shares during the period. Finally, Wells Fargo & Company MN boosted its position in shares of Calyxt by 52.3% during the 2nd quarter. Wells Fargo & Company MN now owns 24,679 shares of the company’s stock worth $309,000 after purchasing an additional 8,475 shares during the period. 28.32% of the stock is owned by hedge funds and other institutional investors.

Several research analysts recently weighed in on the stock. Zacks Investment Research downgraded shares of Calyxt from a “buy” rating to a “hold” rating in a research report on Friday, October 18th. National Securities restated a “buy” rating and set a $28.00 price target (down previously from $35.00) on shares of Calyxt in a research report on Thursday, August 8th. BMO Capital Markets reduced their price target on shares of Calyxt to $15.00 and set an “outperform” rating for the company in a research report on Friday, November 8th. Finally, BidaskClub upgraded shares of Calyxt from a “strong sell” rating to a “sell” rating in a research report on Thursday, September 12th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and three have assigned a buy rating to the stock. Calyxt presently has a consensus rating of “Hold” and an average target price of $16.50.

Calyxt Company Profile

Calyxt, Inc, a consumer-centric food- and agriculture-focused company, develops healthier specialty food ingredients and food crops using gene-editing technology for agriculture in the United States. It engages in the development of high oleic and low linolenic soybean product candidates; high fiber wheat; improved quality alfalfa product candidates; and cold storable and reduced browning potatoes.

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