Co-Diagnostics Inc. (CODX) Review – Making Smarter Decisions

Co-Diagnostics Inc. (NASDAQ: CODX) is 1175.69% higher on its value in year-to-date trading and has touched a low of $0.85 and a high of $30.99 in the current 52-week trading range. The CODX stock was last observed hovering at around $13.15 in the last trading session, with the day’s loss setting it -1.73% off its average median price target of $33.00 for the next 12 months. It is also 73.44% off the consensus price target high of $43.00 offered by 3 analysts, but current levels are 61.93% higher than the price target low of $30.00 for the same period.

Currently trading at $11.42, the stock is -43.35% and -41.24% below its SMA20 and SMA50 respectively. However, with a daily trading volume of 4.94 million and changing -13.19% at the moment leaves the stock 6.44% off its SMA200. CODX registered 957.41% gain for a year compared to 6-month gain of -13.68%. The firm has a 50-day simple moving average (SMA 50) of $20.03 and a 200-day simple moving average (SMA200) of $14.85.

The stock witnessed a -48.28% loss in the last 1 month and extending the period to 3 months gives it a -36.56%, and is -20.64% down over the last 5 days. If we measure the stock’s price variations over the week and the month, we find that the volatility rates stand at 10.91% over the week and 11.10% over the month.

Co-Diagnostics Inc. (CODX) has around 37 employees, a market worth around $310.51M and $25.70M in sales. Current P/E ratio is 63.09 and Fwd P/E is 4.38. Profit margin for the company is 31.40%. Distance from 52-week low is 1249.40% and -63.15% from its 52-week high. The company has generated returns on investments over the last 12 months (-346.70%).

Co-Diagnostics Inc. (CODX) Analyst Forecasts

Analyst recommendations provided by FactSet shows that the consensus forecast for Co-Diagnostics Inc. (CODX) is a “Buy”. 3 analysts offering their recommendations for the stock have an average rating of 2.00, where 0 rate it as a Hold and 0 think it is a “Overweight”. 3 of the analysts rate the stock as a “Buy”. 0 analysts have rated the stock as a Sell or Underperform.

Co-Diagnostics Inc. is expected to release its quarterly report on 11/11/2020 and quarterly earnings per share for the current quarter are estimated at $0.63 with sales reaching $32.79M over the same period. The EPS is expected to grow by 26.40% this year, but quarterly earnings will post 43,555.80% year-over-year. Quarterly sales are estimated to grow 79,875.60% in year-over-year returns.

Co-Diagnostics Inc. (CODX) Top Institutional Holders

30 institutions hold shares in Co-Diagnostics Inc. (CODX), with 6.8M shares held by insiders accounting for 24.21% while institutional investors hold 12.10% of the company’s shares. The shares outstanding are 27.58M, and float is at 25.08M with Short Float at 24.78%. Institutions hold 9.17% of the Float.

The top institutional shareholder in the company is Blackrock Inc. with over 1.8 million shares valued at $34.86 million. The investor’s holdings represent 6.42% of the CODX Shares outstanding. As of Jun 29, 2020, the second largest holder is Vanguard Group, Inc. (The) with 1.3 million shares valued at $25.2 million to account for 4.64% of the shares outstanding. The other top investors are State Street Corporation which holds 0.48 million shares representing 1.70% and valued at over $9.21 million, while Geode Capital Management, LLC holds 1.18% of the shares totaling 0.33 million with a market value of $6.39 million.

Co-Diagnostics Inc. (CODX) Insider Activity

A total of 10 insider transactions have happened at Co-Diagnostics Inc. (CODX) in the last six months, with sales accounting for 6 and purchases happening 4 times. The most recent transaction is an insider sale by SERBIN RICHARD S, the company’s Director. SEC filings show that SERBIN RICHARD S sold 25,000 shares of the company’s common stock on May 28 at a price of $18.02 per share for a total of $0.45 million. Following the sale, the insider now owns 0.0 shares.

Co-Diagnostics Inc. disclosed in a document filed with the SEC on May 26 that Durenard Eugene (Director) sold a total of 25,000 shares of the company’s common stock. The trade occurred on May 26 and was made at $18.26 per share for $0.46 million. Following the transaction, the insider now directly holds 0.0 shares of the CODX stock.

Still, SEC filings show that on May 20, Durenard Eugene (Director) disposed off 25,000 shares at an average price of $18.40 for $0.46 million. The insider now directly holds 0 shares of Co-Diagnostics Inc. (CODX).