Co-Diagnostics, Inc. (NASDAQ:CODX – Get Free Report)’s stock price shot up 11.6% during mid-day trading on Monday. The stock traded as high as $1.30 and last traded at $1.25. 651,627 shares traded hands during mid-day trading, an increase of 87% from the average daily volume of 348,229 shares. The stock had previously closed at $1.12.
Analyst Ratings Changes
Several research analysts have recently commented on the company. Maxim Group upgraded Co-Diagnostics from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, August 18th. Weiss Ratings reissued a “sell (e+)” rating on shares of Co-Diagnostics in a report on Tuesday, September 8th. Finally, Wall Street Zen upgraded Co-Diagnostics from a “sell” rating to a “hold” rating in a research note on Saturday, August 22nd. One investment analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating, one has given a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, Co-Diagnostics presently has an average rating of “Moderate Buy” and an average price target of $67.50.
Get Our Latest Report on Co-Diagnostics
Co-Diagnostics Trading Up 11.6%
Co-Diagnostics (NASDAQ:CODX – Get Free Report) last released its quarterly earnings results on Thursday, August 13th. The company reported ($1.46) earnings per share for the quarter, beating the consensus estimate of ($3.00) by $1.54. Co-Diagnostics had a negative net margin of 6,531.77% and a negative return on equity of 210.99%. The firm had revenue of $0.17 million for the quarter, compared to analysts’ expectations of $0.13 million.
Hedge Funds Weigh In On Co-Diagnostics
An institutional investor recently bought a new stake in Co-Diagnostics stock. Susquehanna International Group LLP purchased a new position in shares of Co-Diagnostics, Inc. (NASDAQ:CODX – Free Report) in the 2nd quarter, according to its most recent Form 13F filing with the SEC. The firm purchased 31,239 shares of the company’s stock, valued at approximately $97,000. Susquehanna International Group LLP owned about 0.85% of Co-Diagnostics at the end of the most recent quarter. 14.99% of the stock is currently owned by institutional investors.
Co-Diagnostics Company Profile
Co-Diagnostics, Inc is a molecular diagnostics company headquartered in Salt Lake City, Utah. The company develops and commercializes diagnostic technologies and laboratory tests designed to identify infectious diseases and other medical conditions using polymerase chain reaction (PCR) and related molecular methods.
Its core technology is the CoPrimer platform, which is intended to support the development of accurate, cost-efficient molecular diagnostic tests. Co-Diagnostics has marketed tests under the Logix Smart brand, including assays for respiratory and other infectious diseases.
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