Co-Diagnostics (NASDAQ:CODX) Lowered to Sell Rating by Wall Street Zen

Co-Diagnostics (NASDAQ:CODX) was downgraded by Wall Street Zen from a “hold” rating to a “sell” rating in a report released on Saturday.

A number of other analysts have also recently weighed in on the company. HC Wainwright restated a “neutral” rating on shares of Co-Diagnostics in a research note on Monday, November 24th. D. Boral Capital reiterated a “buy” rating and issued a $90.00 price objective on shares of Co-Diagnostics in a report on Tuesday, October 28th. Weiss Ratings reissued a “sell (d-)” rating on shares of Co-Diagnostics in a research report on Thursday, October 30th. Finally, Maxim Group restated a “hold” rating on shares of Co-Diagnostics in a research note on Friday. One research analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the company has an average rating of “Hold” and a consensus target price of $55.00.

Co-Diagnostics Stock Down 0.1%

Shares of Co-Diagnostics stock opened at $2.99 on Friday. Co-Diagnostics has a 52-week low of $2.36 and a 52-week high of $46.50. The company has a market capitalization of $6.07 million, a P/E ratio of -0.10 and a beta of 1.25. The company has a 50 day moving average of $7.65 and a 200 day moving average of $9.46.

Co-Diagnostics (NASDAQ:CODX) last announced its quarterly earnings data on Thursday, November 13th. The company reported ($4.80) EPS for the quarter, beating analysts’ consensus estimates of ($5.70) by $0.90. The company had revenue of $0.15 million for the quarter, compared to the consensus estimate of $0.30 million. Co-Diagnostics had a negative net margin of 6,347.34% and a negative return on equity of 70.26%. As a group, research analysts anticipate that Co-Diagnostics will post -1.22 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Co-Diagnostics

An institutional investor recently raised its position in Co-Diagnostics stock. Virtu Financial LLC raised its position in Co-Diagnostics, Inc. (NASDAQ:CODX) by 393.8% during the 3rd quarter, according to its most recent filing with the SEC. The firm owned 126,524 shares of the company’s stock after buying an additional 100,901 shares during the quarter. Virtu Financial LLC owned about 0.21% of Co-Diagnostics worth $44,000 as of its most recent filing with the SEC. 14.99% of the stock is owned by hedge funds and other institutional investors.

About Co-Diagnostics

Co-Diagnostics, Inc is a molecular diagnostics company headquartered in Salt Lake City, Utah, known for its proprietary CoPrimer™ technology. Founded in 2016, the company focuses on the design, development and distribution of molecular diagnostic test kits for the detection of infectious diseases, genetic mutations and other health-relevant biomarkers. Its core platform leverages patented cooperative primers, which are engineered to enhance specificity, sensitivity and cost-effectiveness compared to conventional PCR-based assays.

Through its in-house manufacturing and global supply chain partnerships, Co-Diagnostics produces a range of real-time polymerase chain reaction (qPCR) kits, reagents and customized assay development services.