Co-Diagnostics Inc (NASDAQ:CODX) Given Consensus Rating of “Strong Buy” by Brokerages

Co-Diagnostics Inc (NASDAQ:CODX) has earned an average broker rating score of 1.00 (Strong Buy) from the two brokers that cover the stock, Zacks Investment Research reports. Two investment analysts have rated the stock with a strong buy recommendation.

Brokerages have set a twelve-month consensus target price of $2.00 for the company, according to Zacks. Zacks has also assigned Co-Diagnostics an industry rank of 58 out of 255 based on the ratings given to its competitors.

CODX has been the topic of several research reports. Maxim Group set a $2.00 target price on Co-Diagnostics and gave the company a “buy” rating in a research note on Thursday, September 5th. Zacks Investment Research upgraded Co-Diagnostics from a “sell” rating to a “hold” rating in a research note on Monday, October 7th. Finally, HC Wainwright restated a “buy” rating and issued a $2.00 target price on shares of Co-Diagnostics in a research note on Friday, August 16th.

A hedge fund recently raised its stake in Co-Diagnostics stock. HighTower Advisors LLC lifted its stake in shares of Co-Diagnostics Inc (NASDAQ:CODX) by 13.0% during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 130,002 shares of the company’s stock after purchasing an additional 15,000 shares during the period. HighTower Advisors LLC owned 0.76% of Co-Diagnostics worth $107,000 at the end of the most recent quarter. 5.54% of the stock is owned by institutional investors.

NASDAQ CODX traded down $0.03 during trading on Friday, hitting $1.05. The stock had a trading volume of 57,009 shares, compared to its average volume of 79,130. The company’s 50-day moving average price is $1.08 and its two-hundred day moving average price is $1.02. Co-Diagnostics has a 12 month low of $0.69 and a 12 month high of $3.77.

Co-Diagnostics (NASDAQ:CODX) last released its earnings results on Wednesday, August 14th. The company reported ($0.08) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.06) by ($0.02). The firm had revenue of $0.06 million during the quarter. Co-Diagnostics had a negative net margin of 7,369.12% and a negative return on equity of 267.08%. On average, equities research analysts forecast that Co-Diagnostics will post -0.29 EPS for the current year.

About Co-Diagnostics

Co-Diagnostics, Inc, a molecular diagnostics company, intends to manufacture and sell reagents used for diagnostic tests that function via the detection and/or analysis of nucleic acid molecules. It also intends to sell diagnostic equipment from other manufacturers as self-contained lab systems. Co-Diagnostics, Inc was founded in 2013 and is headquartered in Salt Lake City, Utah.

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