Co-Diagnostics (NASDAQ:CODX) Trading Down 0.9% – Here’s What Happened

Co-Diagnostics, Inc. (NASDAQ:CODX)’s share price traded down 0.9% during mid-day trading on Monday . The stock traded as low as $1.11 and last traded at $1.11. 103,524 shares changed hands during mid-day trading, a decline of 61% from the average daily volume of 262,449 shares. The stock had previously closed at $1.12.

Analysts Set New Price Targets

Several equities research analysts recently commented on CODX shares. Wall Street Zen raised Co-Diagnostics from a “sell” rating to a “hold” rating in a report on Saturday, August 22nd. Maxim Group upgraded Co-Diagnostics from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, August 18th. Finally, Weiss Ratings reissued a “sell (e+)” rating on shares of Co-Diagnostics in a research note on Tuesday, September 8th. One equities research analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating, one has given a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $67.50.

Co-Diagnostics Price Performance

The stock has a market capitalization of $7.75 million, a P/E ratio of -0.11 and a beta of 2.85. The stock’s fifty day moving average is $1.64 and its two-hundred day moving average is $2.47.

Co-Diagnostics (NASDAQ:CODX) last announced its quarterly earnings data on Thursday, August 13th. The company reported ($1.46) EPS for the quarter, beating analysts’ consensus estimates of ($3.00) by $1.54. The company had revenue of $0.17 million during the quarter, compared to the consensus estimate of $0.13 million. Co-Diagnostics had a negative return on equity of 210.99% and a negative net margin of 6,531.77%.

Institutional Inflows and Outflows

A hedge fund recently bought a new position in Co-Diagnostics stock. Susquehanna International Group LLP purchased a new stake in shares of Co-Diagnostics, Inc. (NASDAQ:CODX) during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 31,239 shares of the company’s stock, valued at approximately $97,000. Susquehanna International Group LLP owned 0.85% of Co-Diagnostics at the end of the most recent reporting period. Institutional investors and hedge funds own 14.99% of the company’s stock.

Co-Diagnostics Company Profile

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.