Co-Diagnostics, Inc. (NASDAQ:CODX) Receives Consensus Rating of “Hold” from Brokerages

Co-Diagnostics, Inc. (NASDAQ:CODX) has been given a consensus recommendation of “Hold” by the five research firms that are covering the company, Marketbeat.com reports. One investment analyst has rated the stock with a sell recommendation, two have assigned a hold recommendation, one has given a buy recommendation and one has given a strong buy recommendation to the company. The average twelve-month price target among brokers that have covered the stock in the last year is $55.00.

A number of analysts have commented on the stock. HC Wainwright restated a “neutral” rating on shares of Co-Diagnostics in a research note on Monday, November 24th. Wall Street Zen upgraded shares of Co-Diagnostics to a “hold” rating in a report on Saturday, January 3rd. Maxim Group raised shares of Co-Diagnostics to a “hold” rating in a research report on Wednesday, November 26th. D. Boral Capital reissued a “buy” rating and set a $90.00 price objective on shares of Co-Diagnostics in a report on Tuesday, October 28th. Finally, Weiss Ratings reissued a “sell (d-)” rating on shares of Co-Diagnostics in a research note on Thursday, October 30th.

Hedge Funds Weigh In On Co-Diagnostics

A hedge fund recently raised its stake in Co-Diagnostics stock. Virtu Financial LLC lifted its position in Co-Diagnostics, Inc. (NASDAQ:CODX) by 393.8% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 126,524 shares of the company’s stock after acquiring an additional 100,901 shares during the quarter. Virtu Financial LLC owned approximately 0.21% of Co-Diagnostics worth $44,000 at the end of the most recent reporting period. Institutional investors own 14.99% of the company’s stock.

Co-Diagnostics Stock Performance

Shares of NASDAQ:CODX opened at $3.35 on Thursday. Co-Diagnostics has a 52-week low of $2.36 and a 52-week high of $46.50. The business’s 50 day simple moving average is $8.89 and its two-hundred day simple moving average is $9.75. The firm has a market cap of $6.79 million, a P/E ratio of -0.11 and a beta of 1.25.

Co-Diagnostics (NASDAQ:CODX) last released its quarterly earnings data on Thursday, November 13th. The company reported ($4.80) EPS for the quarter, beating the consensus estimate of ($5.70) by $0.90. Co-Diagnostics had a negative return on equity of 70.26% and a negative net margin of 6,347.34%.The firm had revenue of $0.15 million during the quarter, compared to the consensus estimate of $0.30 million. On average, equities analysts forecast that Co-Diagnostics will post -1.22 earnings per share for the current fiscal year.

About Co-Diagnostics

Co-Diagnostics, Inc is a molecular diagnostics company headquartered in Salt Lake City, Utah, known for its proprietary CoPrimer™ technology. Founded in 2016, the company focuses on the design, development and distribution of molecular diagnostic test kits for the detection of infectious diseases, genetic mutations and other health-relevant biomarkers. Its core platform leverages patented cooperative primers, which are engineered to enhance specificity, sensitivity and cost-effectiveness compared to conventional PCR-based assays.

Through its in-house manufacturing and global supply chain partnerships, Co-Diagnostics produces a range of real-time polymerase chain reaction (qPCR) kits, reagents and customized assay development services.