Co-Diagnostics (NASDAQ:CODX) Rating Increased to Strong-Buy at D Boral Capital

Co-Diagnostics (NASDAQ:CODX) was upgraded by research analysts at D Boral Capital to a “strong-buy” rating in a research note issued on Monday,Zacks.com reports.

A number of other research firms also recently commented on CODX. D. Boral Capital began coverage on Co-Diagnostics in a research report on Monday. They set a “buy” rating and a $10.00 target price for the company. HC Wainwright lowered their target price on Co-Diagnostics from $1.50 to $1.00 and set a “neutral” rating for the company in a research report on Friday, March 28th.

Co-Diagnostics Trading Up 6.0 %

Shares of CODX opened at $0.37 on Monday. The company has a market cap of $12.46 million, a price-to-earnings ratio of -0.27 and a beta of 1.21. Co-Diagnostics has a 12 month low of $0.28 and a 12 month high of $2.23. The business’s fifty day simple moving average is $0.43 and its two-hundred day simple moving average is $0.74.

Co-Diagnostics (NASDAQ:CODX) last issued its quarterly earnings results on Thursday, March 27th. The company reported ($0.36) EPS for the quarter, missing analysts’ consensus estimates of ($0.34) by ($0.02). The company had revenue of $0.15 million during the quarter, compared to analysts’ expectations of $0.38 million. Co-Diagnostics had a negative return on equity of 54.94% and a negative net margin of 563.93%. As a group, research analysts forecast that Co-Diagnostics will post -1.22 EPS for the current year.

Institutional Trading of Co-Diagnostics

Institutional investors and hedge funds have recently made changes to their positions in the business. Jane Street Group LLC bought a new stake in shares of Co-Diagnostics in the third quarter valued at about $55,000. Thompson Davis & CO. Inc. raised its stake in shares of Co-Diagnostics by 37.8% during the 4th quarter. Thompson Davis & CO. Inc. now owns 57,200 shares of the company’s stock worth $43,000 after acquiring an additional 15,700 shares in the last quarter. Finally, Geode Capital Management LLC increased its stake in Co-Diagnostics by 7.5% during the 4th quarter. Geode Capital Management LLC now owns 345,511 shares of the company’s stock valued at $259,000 after purchasing an additional 24,236 shares in the last quarter. 14.99% of the stock is currently owned by institutional investors.

About Co-Diagnostics

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.