Co-Diagnostics Inc. (CODX) – The 53.7% Upside Potential Remains

Co-Diagnostics Inc. (NASDAQ: CODX) is 49.35% higher on its value in year-to-date trading and has touched a low of $5.57 and a high of $30.99 in the current 52-week trading range. The question becomes, what are the chances the stock will continue to grow shareholders’ wealth in the market. Here’s what analysts think will happen to its price in the coming time. The CODX stock was last observed hovering at around $13.89 in the last trading session, with the day’s loss setting it 0.0% off its average median price target of $30.00 for the next 12 months. It is also 67.7% off the consensus price target high of $43.00 offered by 2 analysts, but current levels are 30.55% higher than the price target low of $20.00 for the same period.


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Currently trading at $13.89, the stock is -13.17% and 6.74% above its SMA20 and SMA50 respectively. However, with a daily trading volume of 1.13 million and changing 0.00% at the moment leaves the stock -7.32% off its SMA200. CODX registered -22.01% loss for a year compared to 6-month gain of 21.63%. The firm has a 50-day simple moving average (SMA 50) of $14.29 and a 200-day simple moving average (SMA200) of $12.88.

The stock witnessed a 8.18% loss in the last 1 month and extending the period to 3 months gives it a 16.82%, and is -7.40% 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 10.44% over the week and 11.53% over the month.

Co-Diagnostics Inc. (CODX) has around 37 employees, a market worth around $439.48M and $47.50M in sales. Current P/E ratio is 15.52 and Fwd P/E is 7.16. Profit margin for the company is 58.80%. Distance from 52-week low is 149.37% and -55.18% 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”. 2 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”. 2 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 05/20/2021 and quarterly earnings per share for the current quarter are estimated at $0.48 with sales reaching $24.99M over the same period.The EPS is expected to grow by 26.40% this year, but quarterly earnings will post 33,560.50% year-over-year. Quarterly sales are estimated to grow 22,826.60% in year-over-year returns.

Co-Diagnostics Inc. (CODX) Top Institutional Holders

125 institutions hold shares in Co-Diagnostics Inc. (CODX), with 1.84M shares held by insiders accounting for 6.52% while institutional investors hold 35.31% of the company’s shares. The shares outstanding are 28.08M, and float is at 26.45M with Short Float at 18.88%. Institutions hold 33.01% of the Float.

The top institutional shareholder in the company is Blackrock Inc. with over 1.92 million shares valued at $17.87 million. The investor’s holdings represent 6.80% of the CODX Shares outstanding. As of Dec 30, 2020, the second largest holder is Vanguard Group, Inc. (The) with 1.61 million shares valued at $15.01 million to account for 5.71% of the shares outstanding. The other top investors are Nuveen Asset Management which holds 0.69 million shares representing 2.45% and valued at over $6.45 million, while State Street Corporation holds 1.60% of the shares totaling 0.45 million with a market value of $4.22 million.

Co-Diagnostics Inc. (CODX) Insider Activity

A total of 23 insider transactions have happened at Co-Diagnostics Inc. (CODX) in the last six months, with sales accounting for 16 and purchases happening 7 times. The most recent transaction is an insider sale by Egan Dwight H, the company’s Chief Executive Officer. SEC filings show that Egan Dwight H sold 38,046 shares of the company’s common stock on Jan 15 at a price of $11.00 per share for a total of $0.42 million. Following the sale, the insider now owns 0.0 shares.

Co-Diagnostics Inc. disclosed in a document filed with the SEC on Jan 14 that SERBIN RICHARD S (Director) sold a total of 10,000 shares of the company’s common stock. The trade occurred on Jan 14 and was made at $10.29 per share for $0.1 million. Following the transaction, the insider now directly holds 2500.0 shares of the CODX stock.

Still, SEC filings show that on Jan 13, Durenard Eugene (Director) disposed off 10,500 shares at an average price of $10.09 for $0.11 million. The insider now directly holds 2,000 shares of Co-Diagnostics Inc. (CODX).

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