Wall Street Zen Upgrades Co-Diagnostics (NASDAQ:CODX) to “Hold”

Co-Diagnostics (NASDAQ:CODX) was upgraded by investment analysts at Wall Street Zen to a “hold” rating in a research report issued to clients and investors on Saturday.

CODX has been the topic of a number of other research reports. D. Boral Capital restated a “buy” rating and issued a $3.00 price target on shares of Co-Diagnostics in a research report on Tuesday, October 28th. Weiss Ratings restated a “sell (d-)” rating on shares of Co-Diagnostics in a research report on Thursday. One equities research analyst has rated the stock with a Strong Buy rating, one has given a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $2.00.

Co-Diagnostics Price Performance

NASDAQ:CODX opened at $0.46 on Friday. The firm’s 50 day simple moving average is $0.39 and its 200 day simple moving average is $0.33. Co-Diagnostics has a one year low of $0.23 and a one year high of $1.55. The company has a market cap of $22.14 million, a PE ratio of -0.40 and a beta of 0.97.

Co-Diagnostics (NASDAQ:CODX) last issued its quarterly earnings results on Thursday, August 14th. The company reported ($0.23) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.25) by $0.02. The firm had revenue of $0.16 million for the quarter, compared to the consensus estimate of $0.30 million. Co-Diagnostics had a negative net margin of 3,588.33% and a negative return on equity of 69.49%. Equities research analysts expect that Co-Diagnostics will post -1.22 EPS for the current year.

Institutional Inflows and Outflows

A hedge fund recently raised its stake in Co-Diagnostics stock. Jane Street Group LLC lifted its stake in shares of Co-Diagnostics, Inc. (NASDAQ:CODX) by 314.1% during the second quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 166,254 shares of the company’s stock after acquiring an additional 126,105 shares during the period. Jane Street Group LLC owned 0.50% of Co-Diagnostics worth $47,000 at the end of the most recent reporting period. 14.99% of the stock is currently owned by hedge funds and other institutional investors.

About Co-Diagnostics

Co-Diagnostics, Inc, a molecular diagnostics company, develops, manufactures, and sells reagents used for diagnostic tests that function through the detection and/or analysis of nucleic acid molecules in the United States and internationally. The company offers Co-Dx PCR platform, a polymerase chain reaction (PCR) testing to patients in point-of-care and at-home setting.