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

Co-Diagnostics, Inc. (NASDAQ:CODX) has been given an average rating of “Hold” by the five brokerages that are presently covering the firm, MarketBeat reports. One analyst has rated the stock with a sell recommendation, two have given a hold recommendation, one has issued a buy recommendation and one has assigned a strong buy recommendation to the company. The average twelve-month price target among brokerages that have covered the stock in the last year is $1.8333.

A number of equities analysts have commented on the stock. Weiss Ratings restated a “sell (d-)” rating on shares of Co-Diagnostics in a research report on Thursday, October 30th. Maxim Group raised Co-Diagnostics to a “hold” rating in a report on Wednesday, November 26th. HC Wainwright reaffirmed a “neutral” rating on shares of Co-Diagnostics in a report on Monday, November 24th. Wall Street Zen raised Co-Diagnostics to a “hold” rating in a research note on Saturday, November 1st. Finally, D. Boral Capital restated a “buy” rating and issued a $3.00 target price on shares of Co-Diagnostics in a research note on Tuesday, October 28th.

Hedge Funds Weigh In On Co-Diagnostics

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

Co-Diagnostics Price Performance

Shares of NASDAQ:CODX opened at $0.24 on Friday. The business’s fifty day moving average price is $0.37 and its two-hundred day moving average price is $0.33. Co-Diagnostics has a fifty-two week low of $0.23 and a fifty-two week high of $1.55. The stock has a market capitalization of $14.67 million, a price-to-earnings ratio of -0.24 and a beta of 1.15.

Co-Diagnostics (NASDAQ:CODX) last issued its quarterly earnings data on Thursday, November 13th. The company reported ($0.16) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 company had revenue of $0.15 million during the quarter, compared to analysts’ expectations of $0.30 million. Research analysts expect that Co-Diagnostics will post -1.22 EPS 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.