Co-Diagnostics’ (CODX) “Buy” Rating Reiterated at HC Wainwright

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HC Wainwright reaffirmed 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 price objective on the stock.

A number of other brokerages have also weighed in on CODX. Maxim Group set a $2.00 price objective on Co-Diagnostics and gave the stock a buy rating in a research report on Thursday, September 5th. Zacks Investment Research upgraded Co-Diagnostics from a sell rating to a hold rating in a research report on Monday, October 7th.

Co-Diagnostics stock traded up $0.09 during trading hours on Friday, reaching $0.97. The company had a trading volume of 161,100 shares, compared to its average volume of 677,093. The company has a 50-day moving average price of $1.01 and a 200 day moving average price of $1.01. Co-Diagnostics has a 12-month low of $0.69 and a 12-month high of $3.77.

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

An institutional investor recently raised its position in Co-Diagnostics stock. HighTower Advisors LLC raised its holdings in Co-Diagnostics Inc (NASDAQ:CODX) by 13.0% during the second quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 130,002 shares of the company’s stock after buying an additional 15,000 shares during the quarter. HighTower Advisors LLC owned about 0.76% of Co-Diagnostics worth $107,000 at the end of the most recent quarter. Institutional investors and hedge funds 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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