Co-Diagnostics Inc. [CODX] Stock trading around $21.82 per share: What’s Next?

Co-Diagnostics Inc. [NASDAQ: CODX] stock went on a downward path that fall over -2.11% on Friday, amounting to a one-week price increase of more than 18.27%. The company report on July 24, 2020 that The Gross Law Firm Announces Class Actions on Behalf of Shareholders of WFC, CODX and IDEX.

The securities litigation law firm of The Gross Law Firm issues the following notice on behalf of shareholders in the following publicly traded companies. Shareholders who purchased shares in the following companies during the dates listed are encouraged to contact the firm regarding possible Lead Plaintiff appointment. Appointment as Lead Plaintiff is not required to partake in any recovery.

Wells Fargo & Company (NYSE:WFC).

Over the last 12 months, CODX stock rose by 1565.65%. The one-year Co-Diagnostics Inc. stock forecast points to a potential upside of 35.19. 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 $612.05 million, with 27.46 million shares outstanding and 24.28 million shares in the current float. Compared to the average trading volume of 5.60M shares, CODX stock reached a trading volume of 3207350 in the most recent trading day, which is why market watchdogs consider the stock to be active.

Guru’s Opinion on Co-Diagnostics Inc. [CODX]:

Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for CODX shares is $33.67 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on CODX stock is a recommendation set at 2.00. This rating represents a strong Buy recommendation, on the scale from 1 to 5, where 5 would mean strong sell, 4 represents Sell, 3 is Hold, and 2 indicates Buy.

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 1.72, with the Price to Sales ratio for CODX stock in the period of the last 12 months amounting to 340.03. The Price to Book ratio for the last quarter was 25.98, with the Price to Cash per share for the same quarter was set at 0.62.

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 18.27. With this latest performance, CODX shares gained by 19.76% in over the last four-week period, additionally plugging by 1060.64% over the last 6 months – not to mention a rise of 1565.65% 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 62.95, with the RSI for the last a single of trading hit 65.51, and the three-weeks RSI is set at 61.06 for Co-Diagnostics Inc. [CODX]. The present Moving Average for the last 50 days of trading for this stock 18.06, while it was recorded at 21.30 for the last single week of trading, and 8.50 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 $48 million, or 16.90% 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 $8.03 million in CODX stocks shares; and GEODE CAPITAL MANAGEMENT, LLC, currently with $2.65 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 1,486,323 shares. Additionally, 8 investors decreased positions by around 208,054 shares, while 3 investors held positions by with 518,175 shares. The mentioned changes placed institutional holdings at 2,212,552 shares, according to the latest SEC report filing. CODX stock had 38 new institutional investments in for a total of 1,211,792 shares, while 4 institutional investors sold positions of 108,398 shares during the same period.

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