D Boral Capital Upgrades Co-Diagnostics (NASDAQ:CODX) to Strong-Buy

D Boral Capital upgraded shares of Co-Diagnostics (NASDAQ:CODX) to a strong-buy rating in a report issued on Monday morning,Zacks.com reports.

Several other brokerages have also recently commented on CODX. D. Boral Capital initiated coverage on Co-Diagnostics in a research report on Monday. They issued a “buy” rating and a $10.00 target price for the company. HC Wainwright reduced their target price on Co-Diagnostics from $1.50 to $1.00 and set a “neutral” rating for the company in a research report on Friday, March 28th.

Co-Diagnostics Price Performance

Shares of CODX stock opened at $0.37 on Monday. The stock has a market cap of $12.46 million, a P/E ratio of -0.27 and a beta of 1.21. Co-Diagnostics has a one year low of $0.28 and a one year high of $2.23. The stock has a fifty day moving average price of $0.43 and a 200 day moving average price of $0.74.

Co-Diagnostics (NASDAQ:CODX) last issued its earnings results on Thursday, March 27th. The company reported ($0.36) EPS for the quarter, missing the consensus estimate of ($0.34) by ($0.02). The firm had revenue of $0.15 million during the quarter, compared to the consensus estimate of $0.38 million. Co-Diagnostics had a negative return on equity of 54.94% and a negative net margin of 563.93%. Equities research analysts anticipate that Co-Diagnostics will post -1.22 EPS for the current year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Thompson Davis & CO. Inc. lifted its holdings in shares of Co-Diagnostics by 37.8% during the fourth quarter. Thompson Davis & CO. Inc. now owns 57,200 shares of the company’s stock valued at $43,000 after acquiring an additional 15,700 shares during the period. Jane Street Group LLC bought a new position in shares of Co-Diagnostics during the third quarter valued at $55,000. Finally, Geode Capital Management LLC lifted its holdings in shares of Co-Diagnostics by 7.5% during the fourth quarter. Geode Capital Management LLC now owns 345,511 shares of the company’s stock valued at $259,000 after acquiring an additional 24,236 shares during the period. 14.99% of the stock is owned by institutional investors.

Co-Diagnostics Company Profile

Co-Diagnostics, Inc, a molecular diagnostics company, develops, manufactures, and sells reagents used for diagnostic tests that function through the detection and/or analysis of nucleic acid molecules in the United States and internationally. The company offers Co-Dx PCR platform, a polymerase chain reaction (PCR) testing to patients in point-of-care and at-home setting.