Maxim Group Reaffirms Hold Rating for Co-Diagnostics (NASDAQ:CODX)

Co-Diagnostics (NASDAQ:CODX)‘s stock had its “hold” rating restated by investment analysts at Maxim Group in a research report issued to clients and investors on Friday,Benzinga reports.

Other research analysts have also recently issued reports about the company. D. Boral Capital reaffirmed a “buy” rating and set a $90.00 price objective on shares of Co-Diagnostics in a research report on Tuesday, October 28th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Co-Diagnostics in a research report on Thursday, October 30th. HC Wainwright reaffirmed a “neutral” rating on shares of Co-Diagnostics in a research note on Monday, November 24th. Finally, Wall Street Zen upgraded shares of Co-Diagnostics to a “hold” rating in a report on Saturday, January 3rd. One analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, Co-Diagnostics currently has a consensus rating of “Hold” and a consensus target price of $55.00.

Co-Diagnostics Stock Performance

CODX stock traded down $0.07 during mid-day trading on Friday, hitting $2.92. 6,536 shares of the company were exchanged, compared to its average volume of 158,441. Co-Diagnostics has a 1-year low of $2.36 and a 1-year high of $46.50. The firm’s 50 day simple moving average is $7.81 and its 200 day simple moving average is $9.51. The firm has a market cap of $5.93 million, a P/E ratio of -0.10 and a beta of 1.25.

Co-Diagnostics (NASDAQ:CODX) last issued its quarterly earnings data on Thursday, November 13th. The company reported ($4.80) earnings per share (EPS) for the quarter, topping the consensus estimate of ($5.70) by $0.90. The company had revenue of $0.15 million during 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%. On average, equities research analysts predict that Co-Diagnostics will post -1.22 EPS for the current fiscal year.

Institutional Investors Weigh In On Co-Diagnostics

A hedge fund recently raised its stake in Co-Diagnostics stock. Virtu Financial LLC raised its holdings in Co-Diagnostics, Inc. (NASDAQ:CODX) by 393.8% in the 3rd quarter, according to the company in its most recent filing with the SEC. The firm owned 126,524 shares of the company’s stock after acquiring an additional 100,901 shares during the quarter. Virtu Financial LLC owned approximately 0.21% of Co-Diagnostics worth $44,000 as of its most recent SEC filing. Institutional investors own 14.99% of the company’s stock.

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.