Co-Diagnostics (NASDAQ:CODX) Receives “Buy” Rating from HC Wainwright

HC Wainwright restated their buy rating on shares of Co-Diagnostics (NASDAQ:CODX) in a report published on Friday morning, Stock Target Advisor reports. They currently have a $2.00 target price on the stock.

Several other research analysts have also recently weighed in on CODX. Zacks Investment Research upgraded Co-Diagnostics from a sell rating to a hold rating in a research note on Monday, October 7th. Maxim Group set a $2.00 price target on Co-Diagnostics and gave the stock a buy rating in a research note on Thursday, September 5th.

Shares of CODX stock traded up $0.09 during mid-day trading on Friday, hitting $0.97. The company’s stock had a trading volume of 161,100 shares, compared to its average volume of 677,093. Co-Diagnostics has a 52-week low of $0.69 and a 52-week high of $3.77. The business has a 50-day moving average price of $1.01 and a 200 day moving average price of $1.01.

Co-Diagnostics (NASDAQ:CODX) last posted its quarterly earnings results on Wednesday, November 13th. The company reported ($0.10) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.08) by ($0.02). Co-Diagnostics had a negative return on equity of 202.74% and a negative net margin of 5,486.08%. The business had revenue of $0.04 million during the quarter, compared to analysts’ expectations of $0.10 million. As a group, analysts anticipate that Co-Diagnostics will post -0.29 earnings per share for the current year.

An institutional investor recently raised its position in Co-Diagnostics stock. HighTower Advisors LLC lifted its holdings in Co-Diagnostics Inc (NASDAQ:CODX) by 13.0% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 130,002 shares of the company’s stock after purchasing an additional 15,000 shares during the quarter. HighTower Advisors LLC owned 0.76% of Co-Diagnostics worth $107,000 as of its most recent filing with the Securities and Exchange Commission (SEC). Hedge funds and other institutional investors own 5.49% of the company’s stock.

Co-Diagnostics Company Profile

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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