Co-Diagnostics (NASDAQ:CODX) Issues Earnings Results

Co-Diagnostics (NASDAQ:CODX) issued its quarterly earnings data on Tuesday. The company reported ($1.01) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($1.25) by $0.24, FiscalAI reports. Co-Diagnostics had a negative return on equity of 210.99% and a negative net margin of 6,531.77%. The business had revenue of $0.28 million for the quarter, compared to the consensus estimate of $0.17 million.

Co-Diagnostics Price Performance

NASDAQ CODX traded down $0.03 during trading on Tuesday, hitting $0.29. The company’s stock had a trading volume of 63,665,773 shares, compared to its average volume of 2,551,403. Co-Diagnostics has a fifty-two week low of $0.24 and a fifty-two week high of $13.54. The company has a market cap of $2.52 million, a PE ratio of -0.03 and a beta of 3.15. The business’s 50 day simple moving average is $0.87 and its 200-day simple moving average is $2.13.

Analyst Ratings Changes

CODX has been the subject of a number of research analyst reports. Maxim Group upgraded shares of Co-Diagnostics from a “hold” rating to a “strong-buy” rating in a report on Tuesday, August 18th. Weiss Ratings upgraded shares of Co-Diagnostics from a “sell (e+)” rating to a “sell (d-)” rating in a research note on Tuesday, October 27th. Finally, Wall Street Zen upgraded shares of Co-Diagnostics from a “sell” rating to a “hold” rating in a research note on Saturday, August 22nd. One analyst has rated the stock with a Strong Buy rating, one has given a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, Co-Diagnostics currently has an average rating of “Hold” and a consensus price target of $45.00.

About Co-Diagnostics

Co-Diagnostics, Inc is a molecular diagnostics company that develops and commercializes diagnostic tests and laboratory technologies. Based in Salt Lake City, Utah, the company focuses on assays that detect genetic material from infectious diseases and other medical conditions.

The company’s core technology is its CoPrimer platform, which is designed to support the development of molecular tests using specialized primer technology. Products associated with the platform include the Logix Smart line of real-time polymerase chain reaction (PCR) assays, covering applications such as respiratory and other infectious diseases.