Co-Diagnostics (NASDAQ:CODX) Cut to “Sell” at Zacks Investment Research

Zacks Investment Research cut shares of Co-Diagnostics (NASDAQ:CODX) from a hold rating to a sell rating in a research report released on Tuesday, Zacks.com reports.

According to Zacks, “Co-Diagnostics Inc. is a molecular diagnostics company. It develops, manufactures and markets a new, state-of-the-art diagnostics technology. The Company’s technology is utilized for tests which are designed using the detection and/or analysis of nucleic acid molecules. It also uses proprietary technology to design specific tests to locate genetic markers for use in industries other than infectious disease and license the use of those tests to specific customers. Co-Diagnostics Inc. is based in UT, United States. “

CODX has been the topic of several other research reports. HC Wainwright reissued a buy rating and set a $2.00 price objective on shares of Co-Diagnostics in a research note on Friday, August 16th. Maxim Group set a $2.00 price objective on shares of Co-Diagnostics and gave the stock a buy rating in a research note on Thursday, July 11th.

Co-Diagnostics stock opened at $1.15 on Tuesday. The company’s 50 day simple moving average is $1.14 and its 200 day simple moving average is $1.05. Co-Diagnostics has a fifty-two week low of $0.69 and a fifty-two week high of $3.77.

Co-Diagnostics (NASDAQ:CODX) last released its quarterly earnings data on Wednesday, August 14th. The company reported ($0.08) earnings per share for the quarter, missing the consensus estimate of ($0.06) by ($0.02). Co-Diagnostics had a negative return on equity of 267.08% and a negative net margin of 7,369.12%. The firm had revenue of $0.06 million for the quarter. Analysts expect that Co-Diagnostics will post -0.29 EPS for the current fiscal year.

An institutional investor recently raised its position in Co-Diagnostics stock. HighTower Advisors LLC boosted its stake in shares of Co-Diagnostics Inc (NASDAQ:CODX) by 13.0% during the 2nd quarter, according to its most recent 13F filing with the SEC. The firm owned 130,002 shares of the company’s stock after buying an additional 15,000 shares during the period. HighTower Advisors LLC owned approximately 0.76% of Co-Diagnostics worth $107,000 as of its most recent filing with the SEC. 10.61% of the stock is currently owned by institutional investors.

Co-Diagnostics Company Profile

Co-Diagnostics, Inc, a molecular diagnostics company, intends to manufacture and sell reagents used for diagnostic tests that function via the detection and/or analysis of nucleic acid molecules. It also intends to sell diagnostic equipment from other manufacturers as self-contained lab systems. Co-Diagnostics, Inc was founded in 2013 and is headquartered in Salt Lake City, Utah.

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