HC Wainwright Trims Co-Diagnostics (NASDAQ:CODX) Target Price to $1.50

Co-Diagnostics (NASDAQ:CODX) had its price target cut by research analysts at HC Wainwright from $2.00 to $1.50 in a note issued to investors on Monday, Benzinga reports. The brokerage currently has a “neutral” rating on the stock. HC Wainwright’s price target would suggest a potential upside of 31.58% from the company’s current price.

Co-Diagnostics Stock Up 1.8 %

CODX stock traded up $0.02 during trading on Monday, hitting $1.14. The company had a trading volume of 7,983 shares, compared to its average volume of 91,192. The stock has a market cap of $35.66 million, a price-to-earnings ratio of -0.87 and a beta of -0.82. The firm has a 50-day moving average price of $1.27 and a 200-day moving average price of $1.20. Co-Diagnostics has a 12 month low of $0.98 and a 12 month high of $1.73.

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

Institutional Investors Weigh In On Co-Diagnostics

A hedge fund recently bought a new stake in Co-Diagnostics stock. Koss Olinger Consulting LLC bought a new position in shares of Co-Diagnostics, Inc. (NASDAQ:CODX) in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund bought 58,887 shares of the company’s stock, valued at approximately $74,000. Koss Olinger Consulting LLC owned 0.19% of Co-Diagnostics as of its most recent filing with the Securities and Exchange Commission. Hedge funds and other 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.