Co-Diagnostics Inc [NASDAQ: CODX] price surged by 3.46 percent to reach at $0.01.
A sum of 5763704 shares traded at recent session while its average daily volume was at 25.08M shares. Co-Diagnostics Inc shares reached a high of $0.44 and dropped to a low of $0.3853 until finishing in the latest session at $0.39.
The one-year CODX stock forecast points to a potential upside of 87.0. The average equity rating for CODX stock is currently 2.00, trading closer to a bullish pattern in the stock market.
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 $3.00 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.
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 Price to Book ratio for the last quarter was 0.34, with the Price to Cash per share for the same quarter was set at 0.22.
CODX Stock Performance Analysis:
Co-Diagnostics Inc [CODX] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -20.58. With this latest performance, CODX shares gained by 4.62% in over the last four-week period, additionally plugging by 12.03% over the last 6 months – not to mention a drop of -47.72% 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 48.37, with the RSI for the last a single of trading hit 0.1451, and the three-weeks RSI is set at 0.1143 for Co-Diagnostics Inc [CODX]. The present Moving Average for the last 50 days of trading for this stock 0.3967, while it was recorded at 0.4207 for the last single week of trading, and 0.3939 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 -6882.12% and a Gross Margin at -231.30%. Co-Diagnostics Inc’s Net Margin is presently recorded at -6321.00%.
Co-Diagnostics Inc (CODX) Capital Structure & Debt Analysis
According to recent financial data for Co-Diagnostics Inc. ( CODX), the Return on Equity (ROE) stands at -63.40%, highlighting a negative impact on investor capital. The Return on Assets (ROA) is -56.60%, reflecting the company’s efficiency in generating profits from its assets. Additionally, Co-Diagnostics Inc’s Return on Invested Capital (ROIC) is -85.66%, showcasing its effectiveness in deploying capital for earnings.
Co-Diagnostics Inc (CODX) Efficiency & Liquidity Metrics
Based on Co-Diagnostics Inc’s (CODX) latest financial statements, the Debt-to-Equity Ratio is 0.04%, indicating its reliance on debt financing relative to shareholder equity.
Co-Diagnostics Inc (CODX) Efficiency & Liquidity Metrics
From an operational efficiency perspective, Co-Diagnostics Inc. (CODX) effectively leverages its workforce, generating an average of -$272651.52 per employee. The company’s liquidity position is robust, with a Current Ratio of 4.12% and a Quick Ratio of 3.83%, indicating strong ability to cover short-term liabilities.
CODX Stock EPS
With the latest financial reports released by the company, Co-Diagnostics Inc posted -0.33/share EPS, while the average EPS was predicted by analysts to be reported at -0.33/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. When it comes to the mentioned value, analysts are expecting to see the 5-year EPS growth rate for Co-Diagnostics Inc go to 56.80%.
Co-Diagnostics Inc [CODX] Institutonal Ownership Details
There are presently around $11.66%, or 12.28%% 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 5.913%. 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 1.6665%.
