Co-Diagnostics (NASDAQ:CODX) Coverage Initiated by Analysts at D. Boral Capital

Research analysts at D. Boral Capital began coverage on shares of Co-Diagnostics (NASDAQ:CODX) in a research note issued on Monday,Benzinga reports. The firm set a “buy” rating and a $10.00 price target on the stock.

Separately, HC Wainwright decreased their target price on Co-Diagnostics from $1.50 to $1.00 and set a “neutral” rating on the stock in a research report on Friday, March 28th.

Co-Diagnostics Stock Performance

Shares of CODX opened at $0.35 on Monday. Co-Diagnostics has a 1 year low of $0.28 and a 1 year high of $2.23. The company’s 50 day simple moving average is $0.43 and its 200 day simple moving average is $0.75. The company has a market capitalization of $11.75 million, a price-to-earnings ratio of -0.25 and a beta of 1.21.

Co-Diagnostics (NASDAQ:CODX) last issued its quarterly earnings results on Thursday, March 27th. The company reported ($0.36) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.34) by ($0.02). The business had revenue of $0.15 million during the quarter, compared to analyst estimates of $0.38 million. Co-Diagnostics had a negative net margin of 563.93% and a negative return on equity of 54.94%. Equities analysts expect that Co-Diagnostics will post -1.22 EPS for the current fiscal year.

Institutional Investors Weigh In On Co-Diagnostics

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Jane Street Group LLC bought a new position in shares of Co-Diagnostics during the 3rd quarter worth $55,000. Thompson Davis & CO. Inc. raised its position in Co-Diagnostics by 37.8% during 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 during the period. Finally, Geode Capital Management LLC raised its position in shares of Co-Diagnostics by 7.5% in 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. 14.99% of the stock is currently owned by hedge funds and other institutional investors.

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.