Co-Diagnostics (NASDAQ:CODX) Announces Quarterly Earnings Results

Co-Diagnostics (NASDAQ:CODX) issued its quarterly earnings data on Tuesday. The company reported ($1.01) EPS for the quarter, topping analysts’ consensus estimates of ($1.25) by $0.24, FiscalAI reports. The business had revenue of $0.28 million for the quarter, compared to analysts’ expectations of $0.17 million. Co-Diagnostics had a negative net margin of 6,531.77% and a negative return on equity of 210.99%.

Co-Diagnostics Trading Down 10.3%

CODX stock traded down $0.03 during trading on Tuesday, reaching $0.29. 63,665,773 shares of the stock were exchanged, compared to its average volume of 2,551,403. The firm has a market capitalization of $2.52 million, a price-to-earnings ratio of -0.03 and a beta of 3.15. The business has a 50 day moving average price of $0.87 and a 200-day moving average price of $2.13. Co-Diagnostics has a 1 year low of $0.24 and a 1 year high of $13.54.

Analyst Ratings Changes

Several equities research analysts recently commented on CODX shares. Weiss Ratings raised shares of Co-Diagnostics from a “sell (e+)” rating to a “sell (d-)” rating in a report on Tuesday, October 27th. Wall Street Zen upgraded shares of Co-Diagnostics from a “sell” rating to a “hold” rating in a research report on Saturday, August 22nd. Finally, Maxim Group raised shares of Co-Diagnostics from a “hold” rating to a “strong-buy” rating in a report on Tuesday, August 18th. One research analyst has rated the stock with a Strong Buy rating, one has assigned a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $45.00.

About Co-Diagnostics

Co-Diagnostics, Inc is a molecular diagnostics company that develops and commercializes diagnostic tests and laboratory technologies. Based in Salt Lake City, Utah, the company focuses on assays that detect genetic material from infectious diseases and other medical conditions.

The company’s core technology is its CoPrimer platform, which is designed to support the development of molecular tests using specialized primer technology. Products associated with the platform include the Logix Smart line of real-time polymerase chain reaction (PCR) assays, covering applications such as respiratory and other infectious diseases.