Short Interest in Dyadic International Inc. (NASDAQ:DYAI) Declines By 30.7%

Dyadic International Inc. (NASDAQ:DYAI) saw a significant decline in short interest in 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. Approximately 0.3% of the shares of the company are sold short. Based on an average trading volume of 99,432 shares, the days-to-cover ratio is currently 0.7 days.

Hedge Funds Weigh In On Dyadic International

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Bank of America Corp DE grew its stake in shares of 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 worth $47,000 after buying an additional 26,965 shares during the last quarter. Marathon Capital Management acquired a new stake in Dyadic International during the third quarter worth approximately $41,000. Landscape Capital Management L.L.C. bought a new position in Dyadic International during the third quarter worth $190,000. Geode Capital Management LLC boosted its position in shares of Dyadic International by 13.7% during the 4th quarter. Geode Capital Management LLC now owns 301,673 shares of the biotechnology company’s stock worth $284,000 after purchasing an additional 36,266 shares in the last quarter. Finally, Truist Financial Corp lifted its holdings in shares of Dyadic International by 30.5% in the 3rd quarter. Truist Financial Corp now owns 326,200 shares of the biotechnology company’s stock worth $385,000 after purchasing an additional 76,200 shares in the last quarter. Institutional investors own 27.95% of the company’s stock.

Dyadic International Price Performance

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

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

Analyst Upgrades and Downgrades

Separately, Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Dyadic International in a research report on Monday, December 29th. Two research analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company. According to MarketBeat, the company currently has a consensus 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.