Co-Diagnostics, Inc. (NASDAQ:CODX) Given Average Recommendation of “Hold” by Brokerages

Co-Diagnostics, Inc. (NASDAQ:CODX) has earned a consensus rating of “Hold” from the five brokerages that are currently covering the stock, Marketbeat Ratings reports. One investment analyst has rated the stock with a sell recommendation, two have issued a hold recommendation, one has given a buy recommendation and one has assigned a strong buy recommendation to the company. The average 1 year target price among brokers that have issued a report on the stock in the last year is $1.8333.

CODX has been the subject of a number of recent research reports. HC Wainwright reissued a “neutral” rating on shares of Co-Diagnostics in a research report on Monday, November 24th. D. Boral Capital reissued a “buy” rating and set a $3.00 target price on shares of Co-Diagnostics in a report on Tuesday, October 28th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Co-Diagnostics in a report on Thursday, October 30th. Wall Street Zen upgraded Co-Diagnostics to a “hold” rating in a research note on Saturday, November 1st. Finally, Maxim Group raised Co-Diagnostics to a “hold” rating in a report on Wednesday, November 26th.

Institutional Investors Weigh In On Co-Diagnostics

An institutional investor recently raised its position in Co-Diagnostics stock. Jane Street Group LLC grew its position in shares of Co-Diagnostics, Inc. (NASDAQ:CODX) by 314.1% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 166,254 shares of the company’s stock after purchasing an additional 126,105 shares during the quarter. Jane Street Group LLC owned approximately 0.50% of Co-Diagnostics worth $47,000 as of its most recent SEC filing. 14.99% of the stock is currently owned by institutional investors.

Co-Diagnostics Stock Performance

Shares of CODX opened at $0.26 on Friday. The stock has a 50-day moving average of $0.38 and a two-hundred day moving average of $0.33. The stock has a market cap of $16.07 million, a P/E ratio of -0.27 and a beta of 1.15. Co-Diagnostics has a one year low of $0.23 and a one year high of $1.55.

Co-Diagnostics (NASDAQ:CODX) last announced its quarterly earnings data on Thursday, November 13th. The company reported ($0.16) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.19) by $0.03. 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 analysts’ expectations of $0.30 million. Analysts predict that Co-Diagnostics will post -1.22 EPS for the current fiscal year.

Co-Diagnostics Company Profile

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.