Co-Diagnostics Inc. [NASDAQ: CODX] stock went on a downward path that fall over -1.08% on Wednesday, amounting to a one-week price increase of more than 3.32%. Over the last 12 months, CODX stock rose by 2130.78%. The average equity rating for CODX stock is currently 2.00, trading closer to a bullish pattern in the stock market.
The market cap for the stock reached $445.94 million, with 22.82 million shares outstanding and 20.76 million shares in the current float. Compared to the average trading volume of 7.31M shares, CODX stock reached a trading volume of 1298491 in the most recent trading day, which is why market watchdogs consider the stock to be active.
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Guru’s Opinion on Co-Diagnostics Inc. [CODX]:
Maxim Group have made an estimate for Co-Diagnostics Inc. shares, keeping their opinion on the stock as Buy, with their previous recommendation back on May 20, 2020. While these analysts kept the previous recommendation, H.C. Wainwright raised their target price from $20 to $35. The new note on the price target was released on May 18, 2020, representing the official price target for Co-Diagnostics Inc. stock. Previously, the target price had yet another raise from $4 to $20, while H.C. Wainwright kept a Buy rating on CODX stock.
The Average True Range (ATR) for Co-Diagnostics Inc. is set at 1.83, with the Price to Sales ratio for CODX stock in the period of the last 12 months amounting to 247.74. The Price to Book ratio for the last quarter was 19.65, with the Price to Cash per share for the same quarter was set at 0.64.
CODX Stock Performance Analysis:
Co-Diagnostics Inc. [CODX] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 3.32. With this latest performance, CODX shares dropped by -5.39% in over the last four-week period, additionally plugging by 1450.38% over the last 6 months – not to mention a rise of 2130.78% in the past year of trading.
Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for CODX stock in for the last two-week period is set at 49.03, with the RSI for the last a single of trading hit 48.79, and the three-weeks RSI is set at 52.40 for Co-Diagnostics Inc. [CODX]. The present Moving Average for the last 50 days of trading for this stock 15.29, while it was recorded at 16.30 for the last single week of trading, and 6.21 for the last 200 days.
Insight into Co-Diagnostics Inc. Fundamentals:
Operating Margin for any stock indicates how profitable investing would be, and Co-Diagnostics Inc. [CODX] shares currently have an operating margin of -2741.61 and a Gross Margin at +17.04. Co-Diagnostics Inc.’s Net Margin is presently recorded at -2882.00.
Return on Total Capital for CODX is now -455.64, given the latest momentum, and Return on Invested Capital for the company is -1,826.40. Return on Equity for this stock declined to -1,826.40, with Return on Assets sitting at -328.81.
Reflecting on the efficiency of the workforce at the company, Co-Diagnostics Inc. [CODX] managed to generate an average of -$269,372 per employee. Receivables Turnover for the company is 2.97 with a Total Asset Turnover recorded at a value of 0.11.Co-Diagnostics Inc.’s liquidity data is similarly interesting compelling, with a Quick Ratio of 15.90 and a Current Ratio set at 16.40.
CODX Stock EPS
With the latest financial reports released by the company, Co-Diagnostics Inc. posted -0.08/share EPS, while the average EPS was predicted by analysts to be reported at -0.05/share.When compared, the two values demonstrate that the company fail the estimates by a Surprise Factor of -60.00%. The progress of the company may be observed through the prism of EPS growth rate, while Wall Street analysts are focusing on predicting the 5-year EPS growth rate for CODX.
Co-Diagnostics Inc. [CODX] Insider Position Details
There are presently around $36 million, or 13.10% of CODX stock, in the hands of institutional investors. The top three institutional holders of CODX stocks are: VANGUARD GROUP INC with ownership of 777,201, which is approximately 31.494% of the company’s market cap and around 24.21% of the total institutional ownership; MORGAN STANLEY, holding 367,985 shares of the stock with an approximate value of $6.14 million in CODX stocks shares; and GEODE CAPITAL MANAGEMENT, LLC, currently with $2.02 million in CODX stock with ownership of nearly 151.192% of the company’s market capitalization.
Positions in Co-Diagnostics Inc. stocks held by institutional investors increased at the end of May and at the time of the May reporting period, where 43 institutional holders increased their position in Co-Diagnostics Inc. [NASDAQ:CODX] by around 1,494,622 shares. Additionally, 4 investors decreased positions by around 207,339 shares, while 1 investors held positions by with 468,062 shares. The mentioned changes placed institutional holdings at 2,170,023 shares, according to the latest SEC report filing. CODX stock had 40 new institutional investments in for a total of 1,224,658 shares, while 3 institutional investors sold positions of 108,138 shares during the same period.