Co-Diagnostics (CODX) Stock Price, News & Analysis

Company Overview

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. It also provides PCR diagnostic tests for COVID-19, influenza, tuberculosis, hepatitis B and C, human papillomavirus, malaria, chikungunya, dengue, and the zika virus. In addition, the company offers three multiplexed tests to test mosquitos for the identification of diseases carried by the mosquitos; molecular tools for detection of infectious diseases, liquid biopsy for cancer screening, and agricultural applications; tests that identify genetic traits in plant and animal genomes; and portable diagnostic device designed to bring PCR to patients in point-of-care and at-home settings. The company was incorporated in 2013 and is headquartered in Salt Lake City, Utah.

Key Stats

• Today's Range: $1.03 to $1.06
• 50-Day Range: $1.04 to $1.36
• 52-Week Range: $1.00 to $2.23
• Volume: 129,685 shs
• Average Volume: 137,648 shs
• Market Capitalization: $33.21 million
• P/E Ratio: N/A
• Dividend Yield: N/A
• Price Target: $1.50
• Consensus Rating: Hold

Co-Diagnostics Stock Analysis - MarketRank™

Co-Diagnostics scored higher than 87% of companies evaluated by MarketBeat, and ranked 149th out of 963 stocks in the medical sector. Scores are calculated by averaging available category scores, with extra weight given to analysis and valuation.

Analyst's Opinion

• Score: 3.0 / 5
• Analyst Rating: Hold

Consensus Rating

Co-Diagnostics has received a consensus rating of Hold. The company's average rating score is 2.00, and is based on no buy ratings, 1 hold rating, and no sell ratings.

Amount of Analyst Coverage

Co-Diagnostics has only been the subject of 1 research reports in the past 90 days.

Earnings and Valuation

• Score: 1.3 / 5
• Proj. Earnings Growth: Growing

Earnings Growth

Earnings for Co-Diagnostics are expected to grow in the coming year, from ($1.22) to ($1.17) per share.

Price to Earnings Ratio vs. the Market

The P/E ratio of Co-Diagnostics is -0.75, which means that its earnings are negative and its P/E ratio cannot be compared to companies with positive earnings.

Price to Earnings Ratio vs. Sector

The P/E ratio of Co-Diagnostics is -0.75, which means that its earnings are negative and its P/E ratio cannot be compared to companies with positive earnings.

Price to Book Value per Share Ratio

Co-Diagnostics has a P/B Ratio of 0.37. P/B Ratios below 1 indicate that a company could be undervalued with respect to its assets and liabilities.

Short Interest

• Score: 5.0 / 5
• Short Interest Level: Healthy

Percentage of Shares Shorted

0.65% of the outstanding shares of Co-Diagnostics have been sold short.

Short Interest Ratio / Days to Cover

Co-Diagnostics has a short interest ratio ("days to cover") of 0.8, which is generally considered an acceptable ratio of short interest to trading volume.

Change versus previous month

Short interest in Co-Diagnostics has recently decreased by 7.82%, indicating that investor sentiment is improving significantly.

Dividend

• Score: 0.0 / 5
• Dividend Strength: N/A

Dividend Yield

Co-Diagnostics does not currently pay a dividend.

Dividend Growth

Co-Diagnostics does not have a long track record of dividend growth.

Sustainability and ESG

• Score: 4.4 / 5
• Environmental Score: -1.10

Percentage of Shares Shorted

0.65% of the outstanding shares of Co-Diagnostics have been sold short.

Short Interest Ratio / Days to Cover

Co-Diagnostics has a short interest ratio ("days to cover") of 0.8, which is generally considered an acceptable ratio of short interest to trading volume.

Change versus previous month

Short interest in Co-Diagnostics has recently decreased by 7.82%, indicating that investor sentiment is improving significantly.

News and Social Media

• Score: 3.1 / 5
• News Sentiment: 0.60

News Sentiment

Co-Diagnostics has a news sentiment score of 0.60. This score is calculated as an average of sentiment of articles about the company over the last seven days and ranges from 2 (good news) to -2 (bad news). This is a higher news sentiment than the 0.45 average news sentiment score of Medical companies.

News Coverage This Week

MarketBeat has tracked 5 news articles for Co-Diagnostics this week, compared to 1 article on an average week.

MarketBeat Follows

1 people have added Co-Diagnostics to their MarketBeat watchlist in the last 30 days.

Company Ownership

• Score: 0.0 / 5
• Insider Trading: N/A

Insider Buying vs. Insider Selling

In the past three months, Co-Diagnostics insiders have not sold or bought any company stock.

Percentage Held by Insiders

Only 6.10% of the stock of Co-Diagnostics is held by insiders.

Percentage Held by Institutions

Only 14.99% of the stock of Co-Diagnostics is held by institutions.

CODX Stock Analysis - Frequently Asked Questions

How have CODX shares performed this year?

Co-Diagnostics' stock was trading at $1.33 at the beginning of 2024. Since then, CODX shares have decreased by 21.8% and is now trading at $1.04.
View the best growth stocks for 2024 here.

How were Co-Diagnostics' earnings last quarter?

Co-Diagnostics, Inc. (NASDAQ:CODX) announced its quarterly earnings results on Thursday, May, 9th. The company reported ($0.31) earnings per share for the quarter, missing the consensus estimate of ($0.21) by $0.10. The company earned $0.47 million during the quarter, compared to analysts' expectations of $3.10 million. Co-Diagnostics had a negative net margin of 563.93% and a negative trailing twelve-month return on equity of 54.94%.

When did Co-Diagnostics IPO?

Co-Diagnostics (CODX) raised $9 million in an initial public offering on Thursday, July 13th 2017. The company issued 1,300,000 shares at a price of $6.35-$6.75 per share. WallachBeth Capital and Network 1 Securities served as the underwriters for the IPO.

Who are Co-Diagnostics' major shareholders?

Co-Diagnostics' top institutional shareholders include Jane Street Group LLC (0.14%).
View institutional ownership trends.

How do I buy shares of Co-Diagnostics?

Shares of CODX stock can be purchased through any online brokerage account. Popular online brokerages with access to the U.S. stock market include Charles Schwab, E*TRADE, Fidelity, and Vanguard Brokerage Services.
Compare Top Brokerages Here.

What other stocks do shareholders of Co-Diagnostics own?

Based on aggregate information from My MarketBeat watchlists, some other companies that Co-Diagnostics investors own include Meta Platforms (META), NVIDIA (NVDA), Advanced Micro Devices (AMD), Tesla (TSLA), Moderna (MRNA), Inovio Pharmaceuticals (INO) and Novavax (NVAX).

Company Calendar

• Last Earnings: 5/09/2024
• Today: 11/20/2024
• Fiscal Year End: 12/31/2024
• Next Earnings (Estimated): 3/13/2025

Industry, Sector and Symbol

• Stock Exchange: NASDAQ
• Sector: Medical
• Industry: Surgical & medical instruments
• Sub-Industry: Medical Equipment
• Current Symbol: NASDAQ:CODX
• CUSIP: N/A
• CIK: 1692415
• Web: www.codiagnostics.com
• Phone: (801) 438-1036
• Fax: N/A
• Employees: 100
• Year Founded: N/A

Price Target and Rating

• Average Stock Price Target: $1.50
• High Stock Price Target: $1.50
• Low Stock Price Target: $1.50
• Potential Upside/Downside: +44.2%
• Consensus Rating: Hold
• Rating Score (0-4): 2.00
• Research Coverage: 1 Analysts

Profitability

• EPS (Most Recent Fiscal Year): ($1.38)
• Trailing P/E Ratio: N/A
• Forward P/E Ratio: N/A
• P/E Growth: N/A
• Net Income: $-35,330,000.00
• Net Margins: -563.93%
• Pretax Margin: -510.65%
• Return on Equity: -54.94%
• Return on Assets: -49.28%

Debt

• Debt-to-Equity Ratio: N/A
• Current Ratio: 6.92
• Quick Ratio: 6.70

Sales & Book Value

• Annual Sales: $6.81 million
• Price / Sales: 4.88
• Cash Flow: N/A
• Price / Cash Flow: N/A
• Book Value: $2.81 per share
• Price / Book: 0.37

Miscellaneous

• Outstanding Shares: 31,930,000
• Free Float: 29,982,000
• Market Cap: $33.21 million
• Optionable: Optionable
• Beta: -0.84