Co-Diagnostics (NASDAQ:CODX) Raised to “Hold” at Zacks Investment Research

Co-Diagnostics (NASDAQ:CODX) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a research note issued to investors on Tuesday, Zacks.com reports.

According to Zacks, “Co-Diagnostics Inc. is a molecular diagnostics company. It develops, manufactures and markets a new, state-of-the-art diagnostics technology. The Company’s technology is utilized for tests which are designed using the detection and/or analysis of nucleic acid molecules. It also uses proprietary technology to design specific tests to locate genetic markers for use in industries other than infectious disease and license the use of those tests to specific customers. Co-Diagnostics Inc. is based in UT, United States. “

A number of other analysts also recently issued reports on CODX. Maxim Group set a $2.00 price target on shares of Co-Diagnostics and gave the company a “buy” rating in a report on Thursday, September 5th. HC Wainwright reaffirmed a “buy” rating and set a $2.00 price target on shares of Co-Diagnostics in a report on Friday, August 16th.



Shares of NASDAQ CODX remained flat at $$1.10 during trading on Tuesday. 59,007 shares of the stock were exchanged, compared to its average volume of 807,035. The firm’s 50-day moving average price is $1.13 and its 200 day moving average price is $1.03. Co-Diagnostics has a 12-month low of $0.69 and a 12-month high of $3.77.

Co-Diagnostics (NASDAQ:CODX) last announced its quarterly earnings results on Wednesday, August 14th. The company reported ($0.08) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.06) by ($0.02). The company had revenue of $0.06 million for the quarter. Co-Diagnostics had a negative net margin of 7,369.12% and a negative return on equity of 267.08%. As a group, equities research analysts forecast that Co-Diagnostics will post -0.29 EPS for the current fiscal year.

An institutional investor recently raised its position in Co-Diagnostics stock. Vanguard Group Inc. grew its stake in shares of Co-Diagnostics Inc (NASDAQ:CODX) by 142.1% during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 340,175 shares of the company’s stock after acquiring an additional 199,685 shares during the quarter. Vanguard Group Inc. owned about 2.00% of Co-Diagnostics worth $281,000 as of its most recent SEC filing. Hedge funds and other institutional investors own 5.54% of the company’s stock.

Co-Diagnostics Company Profile

Co-Diagnostics, Inc, a molecular diagnostics company, intends to manufacture and sell reagents used for diagnostic tests that function via the detection and/or analysis of nucleic acid molecules. It also intends to sell diagnostic equipment from other manufacturers as self-contained lab systems. Co-Diagnostics, Inc was founded in 2013 and is headquartered in Salt Lake City, Utah.

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