Analysts Set Co-Diagnostics, Inc. (NASDAQ:CODX) PT at $1.83

Shares of Co-Diagnostics, Inc. (NASDAQ:CODX) have received a consensus recommendation of “Hold” from the five brokerages that are currently covering the stock, MarketBeat reports. One equities research analyst has rated the stock with a sell rating, two have given a hold rating, one has given a buy rating and one has given a strong buy rating to the company. The average 1-year price target among brokers that have issued a report on the stock in the last year is $1.8333.

A number of analysts have commented on the company. Wall Street Zen raised Co-Diagnostics to a “hold” rating in a report on Saturday, November 1st. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Co-Diagnostics in a research report on Thursday, October 30th. D. Boral Capital reiterated a “buy” rating and issued a $3.00 price objective on shares of Co-Diagnostics in a report on Tuesday, October 28th. Maxim Group upgraded shares of Co-Diagnostics to a “hold” rating in a research note on Wednesday. Finally, HC Wainwright reaffirmed a “neutral” rating on shares of Co-Diagnostics in a report on Monday, November 24th.

Institutional Investors Weigh In On Co-Diagnostics

A hedge fund recently raised its stake in Co-Diagnostics stock. Virtu Financial LLC grew its holdings in shares of Co-Diagnostics, Inc. (NASDAQ:CODX) by 393.8% in the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 126,524 shares of the company’s stock after purchasing an additional 100,901 shares during the quarter. Virtu Financial LLC owned approximately 0.21% of Co-Diagnostics worth $44,000 as of its most recent filing with the Securities & Exchange Commission. 14.99% of the stock is owned by hedge funds and other institutional investors.

Co-Diagnostics Stock Performance

Shares of NASDAQ CODX opened at $0.37 on Wednesday. The firm’s 50 day moving average price is $0.40 and its 200-day moving average price is $0.33. Co-Diagnostics has a 52-week low of $0.23 and a 52-week high of $1.55. The company has a market cap of $22.53 million, a PE ratio of -0.37 and a beta of 0.98.

Co-Diagnostics (NASDAQ:CODX) last announced its quarterly earnings results on Thursday, November 13th. The company reported ($0.16) earnings per share for the quarter, beating the consensus estimate of ($0.19) by $0.03. Co-Diagnostics had a negative net margin of 6,347.34% and a negative return on equity of 70.26%. The company had revenue of $0.15 million during the quarter, compared to the consensus estimate of $0.30 million. On average, analysts forecast that Co-Diagnostics will post -1.22 earnings per share for the current fiscal year.

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.