Co-Diagnostics (NASDAQ:CODX) Stock Price Down 3.7% – Time to Sell?

Co-Diagnostics, Inc. (NASDAQ:CODX)’s stock price traded down 3.7% during trading on Monday. The company traded as low as $0.35 and last traded at $0.3533. Approximately 590,057 shares changed hands during trading, an increase of 26% from the average session volume of 467,487 shares. The stock had previously closed at $0.3667.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on CODX. Wall Street Zen raised shares of Co-Diagnostics from a “sell” rating to a “hold” rating in a research note on Saturday, August 22nd. Maxim Group raised Co-Diagnostics from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, August 18th. Finally, Weiss Ratings raised Co-Diagnostics from a “sell (e+)” rating to a “sell (d-)” rating in a research report on Tuesday, October 27th. One research analyst has rated the stock with a Strong Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, Co-Diagnostics presently has a consensus rating of “Hold” and an average target price of $45.00.

Co-Diagnostics Price Performance

The firm has a fifty day moving average of $0.96 and a two-hundred day moving average of $2.20. The stock has a market capitalization of $3.12 million, a P/E ratio of -0.03 and a beta of 2.90.

Co-Diagnostics (NASDAQ:CODX) last issued its earnings results on Thursday, August 13th. The company reported ($1.46) earnings per share (EPS) for the quarter, topping the consensus estimate of ($3.00) by $1.54. The company had revenue of $0.17 million for the quarter, compared to analysts’ expectations of $0.13 million. Co-Diagnostics had a negative net margin of 6,531.77% and a negative return on equity of 210.99%.

Institutional Investors Weigh In On Co-Diagnostics

A hedge fund recently bought a new stake in Co-Diagnostics stock. Susquehanna International Group LLP acquired a new stake in shares of Co-Diagnostics, Inc. (NASDAQ:CODX) during the second quarter, according to its most recent filing with the Securities & Exchange Commission. The firm acquired 31,239 shares of the company’s stock, valued at approximately $97,000. Susquehanna International Group LLP owned approximately 0.85% of Co-Diagnostics as of its most recent filing with the Securities & Exchange Commission. Hedge funds and other institutional investors own 14.99% of the company’s stock.

Co-Diagnostics Company Profile

Co-Diagnostics, Inc is a molecular diagnostics company that develops and commercializes diagnostic tests and laboratory technologies. Based in Salt Lake City, Utah, the company focuses on assays that detect genetic material from infectious diseases and other medical conditions.

The company’s core technology is its CoPrimer platform, which is designed to support the development of molecular tests using specialized primer technology. Products associated with the platform include the Logix Smart line of real-time polymerase chain reaction (PCR) assays, covering applications such as respiratory and other infectious diseases.