Co-Diagnostics (NASDAQ:CODX) Price Target Cut to $1.00 by Analysts at HC Wainwright

Co-Diagnostics (NASDAQ:CODX) had its target price lowered by equities research analysts at HC Wainwright from $1.50 to $1.00 in a report issued on Friday,Benzinga reports. The brokerage presently has a “neutral” rating on the stock. HC Wainwright’s target price suggests a potential upside of 208.64% from the stock’s current price.

Co-Diagnostics Price Performance

Shares of CODX stock traded down $0.07 during midday trading on Friday, hitting $0.32. The company had a trading volume of 700,106 shares, compared to its average volume of 184,148. The stock has a market cap of $10.35 million, a price-to-earnings ratio of -0.23 and a beta of 1.29. Co-Diagnostics has a 52-week low of $0.28 and a 52-week high of $2.23. The company’s 50 day simple moving average is $0.62 and its 200 day simple moving average is $0.90.

Co-Diagnostics (NASDAQ:CODX) last announced its quarterly earnings data on Thursday, March 27th. The company reported ($0.36) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.34) by ($0.02). Co-Diagnostics had a negative return on equity of 54.94% and a negative net margin of 563.93%. The business had revenue of $0.15 million for the quarter, compared to analyst estimates of $0.38 million. Analysts anticipate that Co-Diagnostics will post -1.22 EPS for the current year.

Institutional Trading of Co-Diagnostics

Several large investors have recently bought and sold shares of the company. Geode Capital Management LLC raised its stake in shares of Co-Diagnostics by 7.5% during the 4th quarter. Geode Capital Management LLC now owns 345,511 shares of the company’s stock worth $259,000 after buying an additional 24,236 shares during the last quarter. Thompson Davis & CO. Inc. increased its holdings in Co-Diagnostics by 37.8% during the 4th quarter. Thompson Davis & CO. Inc. now owns 57,200 shares of the company’s stock valued at $43,000 after acquiring an additional 15,700 shares in the last quarter. Finally, Jane Street Group LLC acquired a new position in Co-Diagnostics during the third quarter worth about $55,000. Institutional investors and hedge funds 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.