Co-Diagnostics (NASDAQ:CODX) Earns Buy Rating from Analysts at Maxim Group

Maxim Group assumed coverage on shares of Co-Diagnostics (NASDAQ:CODX) in a research note published on Wednesday morning,Benzinga reports. The firm issued a buy rating and a $1.50 price objective on the stock.

Other equities analysts also recently issued research reports about the company. HC Wainwright restated a “neutral” rating on shares of Co-Diagnostics in a research note on Monday, November 24th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Co-Diagnostics in a report on Thursday, October 30th. D. Boral Capital restated a “buy” rating and issued a $3.00 price objective on shares of Co-Diagnostics in a research note on Tuesday, October 28th. Finally, Wall Street Zen raised Co-Diagnostics to a “hold” rating in a research report on Saturday, November 1st. One equities 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 company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $1.83.

Co-Diagnostics Price Performance

Shares of CODX stock opened at $0.37 on Wednesday. The firm has a 50-day moving average of $0.40 and a 200-day moving average of $0.33. Co-Diagnostics has a one year low of $0.23 and a one year high of $1.55. The company has a market cap of $22.53 million, a P/E ratio of -0.37 and a beta of 0.98.

Co-Diagnostics (NASDAQ:CODX) last released its quarterly earnings results on Thursday, November 13th. The company reported ($0.16) earnings per share for the quarter, topping 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 business had revenue of $0.15 million for the quarter, compared to analysts’ expectations of $0.30 million. As a group, research analysts expect that Co-Diagnostics will post -1.22 earnings per share for the current fiscal year.

Institutional Trading of Co-Diagnostics

A hedge fund recently raised its stake in Co-Diagnostics stock. Jane Street Group LLC lifted its holdings in shares of 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. The institutional investor owned 166,254 shares of the company’s stock after buying an additional 126,105 shares during the quarter. Jane Street Group LLC owned about 0.50% of Co-Diagnostics worth $47,000 at the end of the most recent quarter. 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.