Short Interest in Dyadic International Inc. (NASDAQ:DYAI) Declines By 76.2%

Dyadic International Inc. (NASDAQ:DYAI) was the target of a significant drop in short interest in the month of June. As of June 15th, there was short interest totaling 148,312 shares, a drop of 76.2% from the May 31st total of 622,465 shares. Approximately 0.5% of the company’s shares are sold short. Based on an average trading volume of 188,919 shares, the days-to-cover ratio is presently 0.8 days.

Dyadic International Price Performance

DYAI opened at $0.80 on Friday. The company has a market capitalization of $29.19 million, a price-to-earnings ratio of -3.48 and a beta of 1.17. The company has a current ratio of 2.42, a quick ratio of 2.42 and a debt-to-equity ratio of 4.08. Dyadic International has a 12-month low of $0.65 and a 12-month high of $1.35. The business’s fifty day simple moving average is $0.76 and its 200-day simple moving average is $0.83.

Dyadic International (NASDAQ:DYAI) last released its quarterly earnings data on Wednesday, May 13th. The biotechnology company reported ($0.05) earnings per share for the quarter, missing the consensus estimate of ($0.04) by ($0.01). Dyadic International had a negative net margin of 192.40% and a negative return on equity of 1,005.45%. The firm had revenue of $1.11 million during the quarter, compared to the consensus estimate of $0.90 million. On average, equities research analysts anticipate that Dyadic International will post 0.13 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Dyadic International

Several large investors have recently modified their holdings of the business. Marathon Capital Management bought a new position in shares of Dyadic International during the third quarter valued at approximately $41,000. Bank of America Corp DE increased its holdings in Dyadic International by 16,146.7% during the fourth quarter. Bank of America Corp DE now owns 27,132 shares of the biotechnology company’s stock valued at $47,000 after buying an additional 26,965 shares during the period. Landscape Capital Management L.L.C. bought a new position in Dyadic International in the third quarter worth approximately $190,000. Geode Capital Management LLC raised its stake in Dyadic International by 13.7% in the fourth quarter. Geode Capital Management LLC now owns 301,673 shares of the biotechnology company’s stock worth $284,000 after buying an additional 36,266 shares in the last quarter. Finally, Apis Capital Advisors LLC purchased a new stake in Dyadic International during the third quarter worth $1,817,000. Institutional investors own 27.95% of the company’s stock.

Wall Street Analyst Weigh In

Separately, Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Dyadic International in a research note on Wednesday. Two analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $3.00.

Dyadic International Company Profile

Dyadic International, Inc is a biotechnology company headquartered in Jupiter, Florida, that specializes in developing and commercializing its proprietary C1 fungal-based expression platform. The company’s core business revolves around enabling efficient, scalable production of proteins and enzymes for a wide range of applications, including biopharmaceuticals, industrial enzymes, agricultural bioactives and biofuels. By leveraging its C1 system, Dyadic seeks to offer clients cost-effective, high-yield manufacturing processes that can accelerate development timelines and reduce overall production costs.

The Dyadic C1 platform is designed to produce complex proteins five to ten times faster than traditional cell culture technologies, such as CHO cells or yeast.