Calyxt (NASDAQ:CLXT) Upgraded by Zacks Investment Research to “Buy”

Calyxt (NASDAQ:CLXT) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research note issued on Wednesday, Zacks.com reports. The firm currently has a $4.00 price target on the stock. Zacks Investment Research‘s target price suggests a potential upside of 12.68% from the company’s previous close.

According to Zacks, “Calyxt, Inc. is a consumer-centric, food- and agriculture-focused company. It researches and develops seeds and food ingredients for agricultural, feed, and food applications as well as offers fat saturation and gluten reduction in soybean oil and wheat. Calyxt, Inc. is based in New Brighton, United States. “

NASDAQ CLXT traded down $0.03 during trading on Wednesday, reaching $3.55. 76,991 shares of the company’s stock were exchanged, compared to its average volume of 243,134. The stock has a market cap of $132.31 million, a P/E ratio of -3.35 and a beta of 1.86. The company has a debt-to-equity ratio of 0.81, a quick ratio of 3.14 and a current ratio of 3.49. The company has a 50 day moving average price of $3.83 and a two-hundred day moving average price of $4.72. Calyxt has a 1 year low of $3.11 and a 1 year high of $12.43.

Calyxt (NASDAQ:CLXT) last announced its quarterly earnings results on Thursday, August 5th. The company reported ($0.21) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($0.19) by ($0.02). The business had revenue of $11.88 million for the quarter, compared to analysts’ expectations of $7.92 million. Calyxt had a negative return on equity of 127.64% and a negative net margin of 106.37%. Research analysts forecast that Calyxt will post -0.88 EPS for the current fiscal year.

In related news, CFO William Koschak purchased 20,000 shares of the company’s stock in a transaction that occurred on Thursday, August 19th. The shares were purchased at an average price of $3.21 per share, for a total transaction of $64,200.00. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CEO Michael A. Carr purchased 10,000 shares of the company’s stock in a transaction that occurred on Monday, August 30th. The stock was bought at an average price of $3.98 per share, for a total transaction of $39,800.00. Following the transaction, the chief executive officer now directly owns 60,000 shares in the company, valued at $238,800. The disclosure for this purchase can be found here. 2.30% of the stock is currently owned by insiders.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Nuveen Asset Management LLC boosted its stake in shares of Calyxt by 16.1% during the 1st quarter. Nuveen Asset Management LLC now owns 37,767 shares of the company’s stock worth $227,000 after acquiring an additional 5,234 shares in the last quarter. Goldman Sachs Group Inc. boosted its stake in shares of Calyxt by 52.9% during the 1st quarter. Goldman Sachs Group Inc. now owns 19,862 shares of the company’s stock worth $120,000 after acquiring an additional 6,876 shares in the last quarter. Barclays PLC boosted its stake in shares of Calyxt by 158.3% during the 1st quarter. Barclays PLC now owns 8,656 shares of the company’s stock worth $52,000 after acquiring an additional 5,305 shares in the last quarter. Price T Rowe Associates Inc. MD boosted its stake in shares of Calyxt by 196.4% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 38,047 shares of the company’s stock worth $229,000 after acquiring an additional 25,212 shares in the last quarter. Finally, Susquehanna International Group LLP purchased a new stake in shares of Calyxt during the 2nd quarter worth approximately $70,000. Institutional investors own 29.89% of the company’s stock.

About Calyxt

Calyxt, Inc is technology company, which engages in delivering plant-based solutions. Its products include high oleic soybean oil, high fiber wheat, high oleic soybean meal, and low lignin alfalfa. The company was founded by Daniel F. Voytas and André Choulika on January 8, 2010 and is headquartered in Roseville, MN.

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