Co-Diagnostics Inc. [CODX] Revenue clocked in at $74.60 million, up 2.58% YTD: What’s Next?

Co-Diagnostics Inc. [NASDAQ: CODX] jumped around 0.75 points on Tuesday, while shares priced at $9.54 at the close of the session, up 8.53%. The company report on March 31, 2021 that Co-Diagnostics, Inc. CEO Discusses Company Strategy for the Future with Yahoo! Finance.

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The CEO of Co-Diagnostics, Inc. (Nasdaq: CODX), a molecular diagnostics company with a unique, patented platform for the development of diagnostic tests, appeared yesterday on Yahoo! Finance to comment on the Company’s recently-released FY2020 earnings report, and to discuss its going-forward strategy as the world struggles to achieve normalization.

Co-Diagnostics CEO Dwight Egan remarked, “We believe that the future of gold-standard PCR diagnostics will be defined by the convenience of at-home and point-of-care testing, which will be critical in achieving normalization. Our new platform, currently in development and subject to regulatory approval, will empower individuals and organizations to know their COVID-19 status quickly and accurately, with do-it-yourself tests that could be performed in multiple settings. We also believe that achieving normalcy will require a strong reliance on continued testing to augment proliferation of the COVID-19 vaccines, which we believe may take years to fully administer on a global scale.

Co-Diagnostics Inc. stock is now 2.58% up from its year-to-date (YTD) trading value. CODX Stock saw the intraday high of $9.69 and lowest of $8.86 per share. The company’s 52-week high price is 30.99, which means current price is +21.37% above from all time high which was touched on 02/09/21.

Compared to the average trading volume of 1.56M shares, CODX reached a trading volume of 1397815 in the most recent trading day, which is why market watchdogs consider the stock to be active.

What do top market gurus say about Co-Diagnostics Inc. [CODX]?

Maxim Group have made an estimate for Co-Diagnostics Inc. shares, keeping their opinion on the stock as Hold, with their previous recommendation back on March 29, 2021. The new note on the price target was released on May 20, 2020, representing the official price target for Co-Diagnostics Inc. stock. Previously, the target price had yet another raise from $20 to $35, while H.C. Wainwright kept a Buy rating on CODX stock. On March 09, 2020, analysts increased their price target for CODX shares from 4 to 20.

The Average True Range (ATR) for Co-Diagnostics Inc. is set at 1.00, with the Price to Sales ratio for CODX stock in the period of the last 12 months amounting to 3.75. The Price to Book ratio for the last quarter was 4.06, with the Price to Cash per share for the same quarter was set at 1.61. Price to Free Cash Flow for CODX in the course of the last twelve months was 10.20 with Quick ratio for the last quarter at 13.40.

How has CODX stock performed recently?

Co-Diagnostics Inc. [CODX] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 2.91. With this latest performance, CODX shares dropped by -31.56% in over the last four-week period, additionally sinking by -33.84% over the last 6 months – not to mention a drop of -3.93% 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 38.91, with the RSI for the last a single of trading hit 40.08, and the three-weeks RSI is set at 40.38 for Co-Diagnostics Inc. [CODX]. The present Moving Average for the last 50 days of trading for this stock 13.42, while it was recorded at 9.20 for the last single week of trading, and 14.14 for the last 200 days.

Co-Diagnostics Inc. [CODX]: Deeper insight into the 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 analysis for Co-Diagnostics Inc. [CODX]

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.

Insider trade positions for Co-Diagnostics Inc. [CODX]

There are presently around $74 million, or 27.70% 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 6.36% of the total institutional ownership; VANGUARD GROUP INC, holding 1,613,884 shares of the stock with an approximate value of $15.4 million in CODX stocks shares; and NUVEEN ASSET MANAGEMENT, LLC, currently with $6.62 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 May and at the time of the May reporting period, where 47 institutional holders increased their position in Co-Diagnostics Inc. [NASDAQ:CODX] by around 1,241,907 shares. Additionally, 32 investors decreased positions by around 1,108,308 shares, while 16 investors held positions by with 5,429,316 shares. The mentioned changes placed institutional holdings at 7,779,531 shares, according to the latest SEC report filing. CODX stock had 19 new institutional investments in for a total of 471,960 shares, while 10 institutional investors sold positions of 157,170 shares during the same period.

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