Dyadic International Inc. (NASDAQ:DYAI) Sees Significant Increase in Short Interest

Dyadic International Inc. (NASDAQ:DYAI) was the recipient of a large increase in short interest during the month of May. As of May 29th, there was short interest totaling 622,465 shares, an increase of 754.7% from the May 14th total of 72,829 shares. Approximately 2.2% of the shares of the company are sold short. Based on an average trading volume of 1,064,040 shares, the days-to-cover ratio is presently 0.6 days.

Dyadic International Stock Performance

Shares of NASDAQ DYAI opened at $0.68 on Friday. The firm’s 50-day moving average price is $0.79 and its 200-day moving average price is $0.84. The company has a quick ratio of 2.42, a current ratio of 2.42 and a debt-to-equity ratio of 4.08. The company has a market cap of $24.86 million, a PE ratio of -2.97 and a beta of 1.17. Dyadic International has a 52-week low of $0.65 and a 52-week high of $1.35.

Dyadic International (NASDAQ:DYAI) last announced its quarterly earnings results on Wednesday, May 13th. The biotechnology company reported ($0.05) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.04) by ($0.01). The company had revenue of $1.11 million for the quarter, compared to analysts’ expectations of $0.90 million. Dyadic International had a negative net margin of 192.40% and a negative return on equity of 1,005.45%. As a group, analysts anticipate that Dyadic International will post 0.13 EPS for the current year.

Hedge Funds Weigh In On Dyadic International

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Apis Capital Advisors LLC purchased a new position in shares of Dyadic International in the third quarter worth approximately $1,817,000. Truist Financial Corp boosted its holdings in shares of Dyadic International by 30.5% in the third quarter. Truist Financial Corp now owns 326,200 shares of the biotechnology company’s stock worth $385,000 after buying an additional 76,200 shares during the last quarter. Geode Capital Management LLC boosted its holdings in shares of 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 during the last quarter. Landscape Capital Management L.L.C. purchased a new position in shares of Dyadic International in the third quarter worth approximately $190,000. Finally, Marathon Capital Management boosted its holdings in shares of Dyadic International by 142.9% in the fourth quarter. Marathon Capital Management now owns 85,000 shares of the biotechnology company’s stock worth $80,000 after buying an additional 50,000 shares during the last quarter. Hedge funds and other institutional investors own 27.95% of the company’s stock.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Dyadic International in a report on Friday, March 27th. Two research analysts have rated the stock with a Buy rating and one has given a Sell rating to the company. According to data from MarketBeat, the company has a consensus rating of “Hold” and a consensus price target 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.