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

Co-Diagnostics (NASDAQ:CODX) was upgraded by equities researchers at Wall Street Zen to a “hold” rating in a report issued on Saturday.

CODX has been the subject of several other reports. D. Boral Capital restated a “buy” rating and set a $3.00 price target on shares of Co-Diagnostics in a report on Tuesday. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Co-Diagnostics in a research report on Thursday. One investment analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $2.00.

Co-Diagnostics Price Performance

Shares of CODX opened at $0.46 on Friday. Co-Diagnostics has a one year low of $0.23 and a one year high of $1.55. The company has a 50-day moving average of $0.39 and a two-hundred day moving average of $0.33. The stock has a market cap of $22.14 million, a price-to-earnings ratio of -0.40 and a beta of 0.93.

Co-Diagnostics (NASDAQ:CODX) last posted its quarterly earnings results on Thursday, August 14th. The company reported ($0.23) EPS for the quarter, topping the consensus estimate of ($0.25) by $0.02. The business had revenue of $0.16 million during the quarter, compared to analysts’ expectations of $0.30 million. Co-Diagnostics had a negative net margin of 3,588.33% and a negative return on equity of 69.49%. Analysts anticipate that Co-Diagnostics will post -1.22 earnings per share for the current year.

Hedge Funds Weigh In On Co-Diagnostics

An institutional investor recently raised its position in Co-Diagnostics stock. Jane Street Group LLC grew its position in Co-Diagnostics, Inc. (NASDAQ:CODX) by 314.1% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 166,254 shares of the company’s stock after purchasing an additional 126,105 shares during the quarter. Jane Street Group LLC owned approximately 0.50% of Co-Diagnostics worth $47,000 as of its most recent SEC filing. 14.99% of the stock is currently owned by hedge funds and other institutional investors.

Co-Diagnostics Company Profile

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.