Co-Diagnostics (NASDAQ:CODX) Stock Rating Upgraded by D Boral Capital

Co-Diagnostics (NASDAQ:CODX) was upgraded by stock analysts at D Boral Capital to a “strong-buy” rating in a report released on Monday,Zacks.com reports.

A number of other research analysts have also recently issued reports on the company. D. Boral Capital began coverage on Co-Diagnostics in a research note on Monday. They set a “buy” rating and a $10.00 price objective on the stock. HC Wainwright cut their target price on shares of Co-Diagnostics from $1.50 to $1.00 and set a “neutral” rating on the stock in a report on Friday, March 28th.

Co-Diagnostics Stock Performance

Shares of NASDAQ:CODX opened at $0.36 on Monday. The firm has a market capitalization of $12.03 million, a PE ratio of -0.26 and a beta of 1.21. Co-Diagnostics has a 52-week low of $0.28 and a 52-week high of $2.23. The firm has a fifty day moving average of $0.42 and a 200 day moving average of $0.74.

Co-Diagnostics (NASDAQ:CODX) last announced its quarterly earnings data on Thursday, March 27th. The company reported ($0.36) EPS for the quarter, missing the consensus estimate of ($0.34) by ($0.02). The firm had revenue of $0.15 million for the quarter, compared to the consensus estimate of $0.38 million. Co-Diagnostics had a negative net margin of 563.93% and a negative return on equity of 54.94%. On average, sell-side analysts forecast that Co-Diagnostics will post -1.22 EPS for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the business. Jane Street Group LLC bought a new position in Co-Diagnostics in the 3rd quarter worth $55,000. Thompson Davis & CO. Inc. boosted its holdings in Co-Diagnostics by 37.8% in the fourth quarter. Thompson Davis & CO. Inc. now owns 57,200 shares of the company’s stock worth $43,000 after acquiring an additional 15,700 shares in the last quarter. Finally, Geode Capital Management LLC grew its holdings in shares of Co-Diagnostics by 7.5% during the fourth quarter. Geode Capital Management LLC now owns 345,511 shares of the company’s stock valued at $259,000 after buying an additional 24,236 shares during the last quarter. Hedge funds and other institutional investors own 14.99% of the company’s stock.

About Co-Diagnostics

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.