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 January. As of January 15th, there was short interest totaling 147,183 shares, a decline of 26.4% from the December 31st total of 200,065 shares. Approximately 0.6% of the shares of the company are sold short. Based on an average daily trading volume, of 48,097 shares, the days-to-cover ratio is presently 3.1 days. Based on an average daily trading volume, of 48,097 shares, the days-to-cover ratio is presently 3.1 days. Approximately 0.6% of the shares of the company are sold short.

Dyadic International Stock Performance

DYAI stock traded down $0.01 during trading hours on Monday, hitting $0.86. 27,722 shares of the stock were exchanged, compared to its average volume of 30,533. Dyadic International has a 12 month low of $0.71 and a 12 month high of $1.73. The company has a current ratio of 2.85, a quick ratio of 2.85 and a debt-to-equity ratio of 1.92. The firm has a market capitalization of $31.16 million, a P/E ratio of -3.59 and a beta of 1.27. The company has a 50-day simple moving average of $0.92 and a two-hundred day simple moving average of $0.98.

Dyadic International (NASDAQ:DYAI) last released its quarterly earnings results on Wednesday, November 12th. The biotechnology company reported ($0.06) EPS for the quarter, missing the consensus estimate of ($0.04) by ($0.02). Dyadic International had a negative net margin of 221.09% and a negative return on equity of 537.31%. The business had revenue of $1.16 million during the quarter, compared to analyst estimates of $1.22 million. On average, analysts forecast that Dyadic International will post -0.18 earnings per share for the current fiscal year.

Analysts Set New Price Targets

DYAI has been the subject of several research analyst reports. HC Wainwright started coverage on Dyadic International in a research note on Thursday, October 23rd. They set a “buy” rating and a $3.00 target price for the company. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Dyadic International in a report on Monday, December 29th. Two equities research analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, Dyadic International has a consensus rating of “Hold” and an average price target of $3.00.

Hedge Funds Weigh In On Dyadic International

Hedge funds have recently added to or reduced their stakes in the stock. Bank of America Corp DE lifted its position in shares of Dyadic International by 16,146.7% during the 4th quarter. Bank of America Corp DE now owns 27,132 shares of the biotechnology company’s stock valued at $47,000 after acquiring an additional 26,965 shares during the period. AlphaCore Capital LLC acquired a new position in Dyadic International in the second quarter valued at about $50,000. Chapin Davis Inc. lifted its position in 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 stake in Dyadic International by 627.4% during the third quarter. Perkins Capital Management Inc. now owns 348,050 shares of the biotechnology company’s stock worth $411,000 after buying an additional 300,200 shares in the last quarter. Finally, Truist Financial Corp grew its stake in Dyadic International by 30.5% during 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 in the last quarter. Institutional investors own 27.95% of the company’s stock.

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.