Co-Diagnostics Inc [NASDAQ: CODX] loss -10.22% or -0.08 points to close at $0.78 with a heavy trading volume of 267884 shares.
The daily chart for CODX points out that the company has recorded -43.40% loss over the past six months.
If we look at the average trading volume of 180.44K shares, CODX reached to a volume of 267884 in the most recent trading day, which is why market watchdogs consider the stock to be active.
Here is what top equities market gurus are saying about 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 $1.50 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 3.00. 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.
Sidoti have made an estimate for Co-Diagnostics Inc shares, keeping their opinion on the stock as Neutral, with their previous recommendation back on August 12, 2022. While these analysts kept the previous recommendation, Sidoti raised their target price to Buy. The new note on the price target was released on December 29, 2021, representing the official price target for Co-Diagnostics Inc stock.
The Average True Range (ATR) for Co-Diagnostics Inc is set at 0.09, with the Price to Sales ratio for CODX stock in the period of the last 12 months amounting to 5.92. The Price to Book ratio for the last quarter was 0.39, with the Price to Cash per share for the same quarter was set at 1.18.
Trading performance analysis for CODX stock
Co-Diagnostics Inc [CODX] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 3.39. With this latest performance, CODX shares dropped by -8.88% in over the last four-week period, additionally sinking by -43.40% over the last 6 months – not to mention a drop of -44.61% 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 45.37, with the RSI for the last a single of trading hit 46.96, and the three-weeks RSI is set at 43.70 for Co-Diagnostics Inc [CODX]. The present Moving Average for the last 50 days of trading for this stock 0.9507, while it was recorded at 0.8283 for the last single week of trading, and 1.1712 for the last 200 days.
Co-Diagnostics Inc [CODX]: A deeper dive into fundamental analysis
Co-Diagnostics Inc’s liquidity data is similarly interesting compelling, with a Quick Ratio of 6.70 and a Current Ratio set at 6.92.
An analysis of Institutional ownership at Co-Diagnostics Inc [CODX]
There are presently around $13.93%, or 14.92%% of CODX stock, in the hands of institutional investors. The top three institutional holders of CODX stocks are: VANGUARD GROUP INC with ownership of 1.78 million shares, which is approximately 5.9689%. RENAISSANCE TECHNOLOGIES LLC, holding 0.59 million shares of the stock with an approximate value of $$0.73 million in CODX stocks shares; and RENAISSANCE TECHNOLOGIES LLC, currently with $$0.63 million in CODX stock with ownership which is approximately 1.6822%.
