Co-Diagnostics (NASDAQ:CODX) Price Target Cut to $1.50 by Analysts at HC Wainwright

Co-Diagnostics (NASDAQ:CODX) had its target price cut by HC Wainwright from $2.00 to $1.50 in a research report issued to clients and investors on Monday, Benzinga reports. The firm presently has a “neutral” rating on the stock. HC Wainwright’s target price suggests a potential upside of 31.58% from the stock’s current price.

Co-Diagnostics Stock Up 1.8 %

Shares of CODX stock traded up $0.02 during mid-day trading on Monday, reaching $1.14. 7,983 shares of the stock traded hands, compared to its average volume of 91,192. The company has a market cap of $35.66 million, a price-to-earnings ratio of -0.87 and a beta of -0.82. The stock’s fifty day simple moving average is $1.27 and its two-hundred day simple moving average is $1.20. Co-Diagnostics has a 1-year low of $0.98 and a 1-year high of $1.73.

Co-Diagnostics (NASDAQ:CODX) last issued its quarterly earnings data on Thursday, May 9th. The company reported ($0.31) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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 business had revenue of $0.47 million during the quarter, compared to the consensus estimate of $3.10 million. During the same quarter last year, the business earned ($0.20) EPS. On average, equities research analysts anticipate that Co-Diagnostics will post -1.33 EPS for the current fiscal year.

Hedge Funds Weigh In On Co-Diagnostics

A hedge fund recently raised its stake in Co-Diagnostics stock. SMI Advisory Services LLC raised its stake in shares of Co-Diagnostics, Inc. (NASDAQ:CODX) by 117.7% in the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 38,089 shares of the company’s stock after purchasing an additional 20,590 shares during the period. SMI Advisory Services LLC owned 0.12% of Co-Diagnostics worth $43,000 at the end of the most recent quarter. 14.99% of the stock is currently owned by institutional investors and hedge funds.

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.