Co-Diagnostics (NASDAQ:CODX) Issues Earnings Results

Co-Diagnostics (NASDAQ:CODX) posted its quarterly earnings data on Thursday. The company reported ($0.16) EPS for the quarter, beating the consensus estimate of ($0.19) by $0.03, FiscalAI reports. Co-Diagnostics had a negative net margin of 3,588.33% and a negative return on equity of 69.49%. The firm had revenue of $0.15 million during the quarter, compared to analyst estimates of $0.30 million.

Co-Diagnostics Stock Performance

Shares of CODX opened at $0.37 on Friday. The business has a 50-day moving average of $0.40 and a 200 day moving average of $0.33. Co-Diagnostics has a fifty-two week low of $0.23 and a fifty-two week high of $1.55. The firm has a market cap of $22.65 million, a P/E ratio of -0.32 and a beta of 0.98.

Hedge Funds Weigh In On Co-Diagnostics

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

Analyst Ratings Changes

CODX has been the subject of a number of research analyst reports. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Co-Diagnostics in a research report on Thursday, October 30th. Wall Street Zen raised Co-Diagnostics to a “hold” rating in a research report on Saturday, November 1st. Finally, D. Boral Capital reiterated a “buy” rating and set a $3.00 target price on shares of Co-Diagnostics in a research note on Tuesday, October 28th. One analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating, one has given a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, Co-Diagnostics has an average rating of “Moderate Buy” and an average target price of $2.00.

Co-Diagnostics Company Profile

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.