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

Dyadic International Inc. (NASDAQ:DYAI) was the recipient of a significant decline in short interest during the month of March. As of March 13th, there was short interest totaling 65,770 shares, a decline of 30.7% from the February 26th total of 94,848 shares. Currently, 0.3% of the company’s stock are short sold. Based on an average daily volume of 99,432 shares, the days-to-cover ratio is presently 0.7 days.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Apis Capital Advisors LLC purchased a new position in shares of Dyadic International in the 3rd quarter valued at approximately $1,817,000. Chapin Davis Inc. lifted its holdings in shares of Dyadic International by 5.6% during the third quarter. Chapin Davis Inc. now owns 932,004 shares of the biotechnology company’s stock worth $1,100,000 after purchasing an additional 49,155 shares during the period. Perkins Capital Management Inc. grew its position in Dyadic International by 627.4% in the 3rd quarter. Perkins Capital Management Inc. now owns 348,050 shares of the biotechnology company’s stock valued at $411,000 after buying an additional 300,200 shares during the last quarter. Truist Financial Corp increased its stake in Dyadic International by 30.5% in the 3rd quarter. Truist Financial Corp now owns 326,200 shares of the biotechnology company’s stock valued at $385,000 after buying an additional 76,200 shares during the period. Finally, Geode Capital Management LLC increased its stake in Dyadic International by 13.7% in the 4th quarter. Geode Capital Management LLC now owns 301,673 shares of the biotechnology company’s stock valued at $284,000 after buying an additional 36,266 shares during the period. 27.95% of the stock is currently owned by hedge funds and other institutional investors.

Dyadic International Stock Performance

NASDAQ:DYAI traded down $0.02 during trading hours on Friday, reaching $0.68. 207,216 shares of the company’s stock were exchanged, compared to its average volume of 111,080. Dyadic International has a 1-year low of $0.65 and a 1-year high of $1.43. The company has a quick ratio of 2.85, a current ratio of 2.68 and a debt-to-equity ratio of 4.08. The firm has a market capitalization of $24.73 million, a price-to-earnings ratio of -2.71 and a beta of 1.29. The company has a 50-day moving average of $0.83 and a 200 day moving average of $0.94.

Dyadic International (NASDAQ:DYAI) last posted its quarterly earnings data on Wednesday, March 25th. The biotechnology company reported ($0.06) EPS for the quarter, missing analysts’ consensus estimates of ($0.03) by ($0.03). Dyadic International had a negative net margin of 239.67% and a negative return on equity of 695.96%. The business had revenue of $0.57 million during the quarter, compared to analyst estimates of $1.34 million. Research analysts anticipate that Dyadic International will post -0.18 EPS for the current year.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings restated a “sell (e+)” rating on shares of Dyadic International in a report on Monday, December 29th. Two investment analysts have rated the stock with a Buy rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $3.00.

About Dyadic International

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.