Co-Diagnostics (NASDAQ:CODX) Rating Increased to Hold at Wall Street Zen

Wall Street Zen upgraded shares of Co-Diagnostics (NASDAQ:CODX) to a hold rating in a research note published on Saturday morning.

Other analysts have also recently issued reports about the stock. HC Wainwright reiterated a “neutral” rating on shares of Co-Diagnostics in a research note on Monday, November 24th. D. Boral Capital reaffirmed a “buy” rating and issued a $90.00 price objective on shares of Co-Diagnostics in a research note on Tuesday, October 28th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Co-Diagnostics in a report on Thursday, October 30th. Finally, Maxim Group raised shares of Co-Diagnostics to a “hold” rating in a research report on Wednesday, November 26th. One investment analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating, two have given a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $55.00.

Co-Diagnostics Stock Up 9.9%

Shares of NASDAQ:CODX opened at $5.56 on Friday. The firm has a fifty day moving average of $10.48 and a two-hundred day moving average of $9.84. Co-Diagnostics has a 12-month low of $4.84 and a 12-month high of $46.50. The firm has a market capitalization of $11.29 million, a P/E ratio of -0.19 and a beta of 1.25.

Co-Diagnostics (NASDAQ:CODX) last issued its earnings results on Thursday, November 13th. The company reported ($4.80) earnings per share for the quarter, topping the consensus estimate of ($5.70) by $0.90. The company had revenue of $0.15 million for the quarter, compared to analyst estimates of $0.30 million. Co-Diagnostics had a negative return on equity of 70.26% and a negative net margin of 6,347.34%. Equities research analysts expect that Co-Diagnostics will post -1.22 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Co-Diagnostics

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

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.