Co-Diagnostics (NASDAQ:CODX) Receives “Hold” Rating from Maxim Group

Co-Diagnostics (NASDAQ:CODX)‘s stock had its “hold” rating reaffirmed by analysts at Maxim Group in a note issued to investors on Friday,Benzinga reports.

A number of other brokerages have also recently weighed in on CODX. Wall Street Zen upgraded shares of Co-Diagnostics to a “hold” rating in a research note on Saturday, January 3rd. HC Wainwright restated a “neutral” rating on shares of Co-Diagnostics in a research report on Monday, November 24th. D. Boral Capital reaffirmed a “buy” rating and issued a $90.00 price target on shares of Co-Diagnostics in a research note on Tuesday, October 28th. Finally, Weiss Ratings reiterated a “sell (d-)” rating on shares of Co-Diagnostics in a research note on Thursday, October 30th. One research analyst has rated the stock with a Strong Buy rating, one has given a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, Co-Diagnostics has a consensus rating of “Hold” and an average price target of $55.00.

Co-Diagnostics Price Performance

Co-Diagnostics stock traded down $0.07 during midday trading on Friday, hitting $2.92. 6,536 shares of the company were exchanged, compared to its average volume of 158,441. The company has a market cap of $5.93 million, a PE ratio of -0.10 and a beta of 1.25. Co-Diagnostics has a fifty-two week low of $2.36 and a fifty-two week high of $46.50. The company’s fifty day moving average price is $7.81 and its 200-day moving average price is $9.51.

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

Institutional Investors Weigh In On Co-Diagnostics

An institutional investor recently raised its position in Co-Diagnostics stock. Jane Street Group LLC lifted its position in Co-Diagnostics, Inc. (NASDAQ:CODX) by 314.1% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 166,254 shares of the company’s stock after acquiring 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. Hedge funds and other institutional investors own 14.99% of the company’s stock.

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.