HC Wainwright Reiterates Neutral Rating for Co-Diagnostics (NASDAQ:CODX)

Co-Diagnostics (NASDAQ:CODX)‘s stock had its “neutral” rating reissued by investment analysts at HC Wainwright in a research note issued to investors on Monday, Benzinga reports. They currently have a $2.00 target price on the stock. HC Wainwright’s price target indicates a potential upside of 30.72% from the stock’s previous close.

Co-Diagnostics Stock Up 5.5 %

Shares of NASDAQ CODX opened at $1.53 on Monday. Co-Diagnostics has a 12 month low of $0.98 and a 12 month high of $1.89. The company has a market cap of $47.86 million, a price-to-earnings ratio of -1.16 and a beta of -0.85. The business has a fifty day simple moving average of $1.20 and a 200-day simple moving average of $1.20.

Co-Diagnostics (NASDAQ:CODX) last announced its earnings results on Thursday, May 9th. The company reported ($0.31) EPS for the quarter, missing the consensus estimate of ($0.21) by ($0.10). Co-Diagnostics had a negative net margin of 582.36% and a negative return on equity of 42.35%. The company had revenue of $0.47 million for the quarter, compared to analysts’ expectations of $3.10 million. During the same period in the prior year, the company earned ($0.20) earnings per share. As a group, sell-side analysts expect that Co-Diagnostics will post -1.33 EPS for the current fiscal year.

Institutional Investors Weigh In On Co-Diagnostics

An institutional investor recently raised its position in Co-Diagnostics stock. SMI Advisory Services LLC increased its holdings in Co-Diagnostics, Inc. (NASDAQ:CODX) by 117.7% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 38,089 shares of the company’s stock after acquiring an additional 20,590 shares during the period. SMI Advisory Services LLC owned about 0.12% of Co-Diagnostics worth $43,000 at the end of the most recent reporting period. Institutional investors own 14.99% of the company’s stock.

Co-Diagnostics Company Profile

Co-Diagnostics, Inc, a molecular diagnostics company, develops, manufactures, and sells reagents used for diagnostic tests that function through the detection and/or analysis of nucleic acid molecules in the United States and internationally. The company offers Co-Dx PCR platform, a polymerase chain reaction (PCR) testing to patients in point-of-care and at-home setting.