Co-Diagnostics Inc. [CODX] is 4.30% higher this YTD. Is it still time to buy?

Co-Diagnostics Inc. [NASDAQ: CODX] closed the trading session at $9.70 on 03/26/21. The day’s price range saw the stock hit a low of $9.57, while the highest price level was $11.13. The company report on March 26, 2021 that Co-Diagnostics Reports Fourth-Quarter and Full-Year 2020 Financial Results.

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Record quarterly results highlighted by revenue of $27.1 million and pre-tax income of $15.8 million.

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Co-Diagnostics, Inc. (NASDAQ: CODX), a molecular diagnostics company with a unique, patented platform for the development of molecular diagnostic tests, announced today financial results for the fourth quarter and full year ended December 31, 2020.

The stocks have a year to date performance of 4.30 percent and weekly performance of -30.96 percent. The stock has been moved at -29.61 percent over the last six months. The stock has performed -37.01 percent around the most recent 30 days and changed -11.17 percent over the most recent 3-months.

If compared to the average trading volume of 1.55M shares, CODX reached to a volume of 3807849 in the most recent trading day, which is why market watchdogs consider the stock to be active.

Here’s what leading stock market gurus have to say about 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 1.41, with the Price to Sales ratio for CODX stock in the period of the last 12 months amounting to 4.59. The Price to Book ratio for the last quarter was 4.13, with the Price to Cash per share for the same quarter was set at 1.34. Price to Free Cash Flow for CODX in the course of the last twelve months was 12.50 with Quick ratio for the last quarter at 13.40.

CODX stock trade performance evaluation

Co-Diagnostics Inc. [CODX] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -30.96. With this latest performance, CODX shares dropped by -37.01% in over the last four-week period, additionally sinking by -29.61% over the last 6 months – not to mention a rise of 3.19% 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 31.63, with the RSI for the last a single of trading hit 23.77, and the three-weeks RSI is set at 36.79 for Co-Diagnostics Inc. [CODX]. The present Moving Average for the last 50 days of trading for this stock 14.03, while it was recorded at 12.47 for the last single week of trading, and 14.56 for the last 200 days.

Co-Diagnostics Inc. [CODX]: An insightful look at the core fundamentals

Operating Margin for any stock indicates how profitable investing would be, and Co-Diagnostics Inc. [CODX] shares currently have an operating margin of +55.93 and a Gross Margin at +77.56. Co-Diagnostics Inc.’s Net Margin is presently recorded at +56.98.

Return on Total Capital for CODX is now 121.85, given the latest momentum, and Return on Invested Capital for the company is 124.14. Return on Equity for this stock inclined to 124.14, with Return on Assets sitting at 115.66.

Reflecting on the efficiency of the workforce at the company, Co-Diagnostics Inc. [CODX] managed to generate an average of $1,148,068 per employee. Receivables Turnover for the company is 12.15 with a Total Asset Turnover recorded at a value of 2.03.Co-Diagnostics Inc.’s liquidity data is similarly interesting compelling, with a Quick Ratio of 13.40 and a Current Ratio set at 15.20.

Earnings per share (EPS) analysis for Co-Diagnostics Inc. [CODX] stock

With the latest financial reports released by the company, Co-Diagnostics Inc. posted -0.05/share EPS, while the average EPS was predicted by analysts to be reported at -0.05/share. 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 Ownership positions

There are presently around $75 million, or 28.10% of CODX stock, in the hands of institutional investors. The top three institutional holders of CODX stocks are: BLACKROCK INC. with ownership of 1,921,670, which is approximately 6.646% of the company’s market cap and around 6.52% of the total institutional ownership; VANGUARD GROUP INC, holding 1,613,884 shares of the stock with an approximate value of $15.65 million in CODX stocks shares; and NUVEEN ASSET MANAGEMENT, LLC, currently with $6.73 million in CODX stock with ownership of nearly 7.05% of the company’s market capitalization.

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Positions in Co-Diagnostics Inc. stocks held by institutional investors increased at the end of March and at the time of the March reporting period, where 46 institutional holders increased their position in Co-Diagnostics Inc. [NASDAQ:CODX] by around 1,209,732 shares. Additionally, 34 investors decreased positions by around 1,121,868 shares, while 16 investors held positions by with 5,415,756 shares. The mentioned changes placed institutional holdings at 7,747,356 shares, according to the latest SEC report filing. CODX stock had 18 new institutional investments in for a total of 439,785 shares, while 12 institutional investors sold positions of 170,730 shares during the same period.

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