Co-Diagnostics (NASDAQ:CODX) Research Coverage Started at D. Boral Capital

D. Boral Capital began coverage on shares of Co-Diagnostics (NASDAQ:CODX) in a research report report published on Monday,Benzinga reports. The brokerage issued a buy rating and a $10.00 price target on the stock.

Separately, HC Wainwright cut their target price on shares of Co-Diagnostics from $1.50 to $1.00 and set a “neutral” rating on the stock in a research note on Friday, March 28th.

Co-Diagnostics Stock Performance

NASDAQ CODX opened at $0.35 on Monday. The stock has a market cap of $11.78 million, a P/E ratio of -0.25 and a beta of 1.21. Co-Diagnostics has a fifty-two week low of $0.28 and a fifty-two week high of $2.23. The stock has a 50 day simple moving average of $0.41 and a two-hundred day simple moving average of $0.74.

Co-Diagnostics (NASDAQ:CODX) last announced its quarterly earnings results on Thursday, March 27th. The company reported ($0.36) EPS for the quarter, missing analysts’ consensus estimates of ($0.34) by ($0.02). The business had revenue of $0.15 million during the quarter, compared to analysts’ expectations of $0.38 million. Co-Diagnostics had a negative return on equity of 54.94% and a negative net margin of 563.93%. Sell-side analysts predict that Co-Diagnostics will post -1.22 earnings per share for the current year.

Institutional Investors Weigh In On Co-Diagnostics

Several hedge funds have recently made changes to their positions in CODX. Thompson Davis & CO. Inc. increased its stake in shares of Co-Diagnostics by 37.8% in the 4th quarter. Thompson Davis & CO. Inc. now owns 57,200 shares of the company’s stock worth $43,000 after acquiring an additional 15,700 shares in the last quarter. Geode Capital Management LLC grew its holdings in Co-Diagnostics by 7.5% in the fourth quarter. Geode Capital Management LLC now owns 345,511 shares of the company’s stock worth $259,000 after purchasing an additional 24,236 shares during the period. Finally, Jane Street Group LLC bought a new position in shares of Co-Diagnostics during the third quarter valued at approximately $55,000. 14.99% of the stock is currently owned by 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.