Co-Diagnostics (NASDAQ:CODX) Upgraded to “Buy” at Zacks Investment Research

Zacks Investment Research upgraded shares of Co-Diagnostics (NASDAQ:CODX) from a sell rating to a buy rating in a research report report published on Wednesday, Zacks.com reports. They currently have $1.25 price target on the stock.

According to Zacks, “Co-Diagnostics Inc. is a molecular diagnostics company. It develops, manufactures and markets a new, state-of-the-art diagnostics technology. The Company’s technology is utilized for tests which are designed using the detection and/or analysis of nucleic acid molecules. It also uses proprietary technology to design specific tests to locate genetic markers for use in industries other than infectious disease and license the use of those tests to specific customers. Co-Diagnostics Inc. is based in UT, United States. “

Separately, HC Wainwright reissued a buy rating and issued a $2.00 price target on shares of Co-Diagnostics in a report on Friday, January 3rd.

Shares of NASDAQ:CODX remained flat at $$1.06 during trading hours on Wednesday. 421 shares of the company’s stock were exchanged, compared to its average volume of 184,051. The business’s 50-day moving average is $0.98 and its 200 day moving average is $1.04. Co-Diagnostics has a 52 week low of $0.69 and a 52 week high of $3.77.

Co-Diagnostics (NASDAQ:CODX) last released its earnings results on Wednesday, November 13th. The company reported ($0.10) earnings per share for the quarter, missing the consensus estimate of ($0.08) by ($0.02). Co-Diagnostics had a negative net margin of 5,486.08% and a negative return on equity of 202.74%. The business had revenue of $0.04 million for the quarter, compared to the consensus estimate of $0.10 million. As a group, research analysts expect that Co-Diagnostics will post -0.35 earnings per share for the current fiscal year.

Hedge funds have recently bought and sold shares of the business. Barclays PLC lifted its stake in Co-Diagnostics by 294.3% during the third quarter. Barclays PLC now owns 72,950 shares of the company’s stock valued at $75,000 after buying an additional 54,450 shares in the last quarter. HighTower Advisors LLC increased its holdings in shares of Co-Diagnostics by 13.0% in the 2nd quarter. HighTower Advisors LLC now owns 130,002 shares of the company’s stock valued at $107,000 after purchasing an additional 15,000 shares during the period. Finally, Vanguard Group Inc. increased its holdings in shares of Co-Diagnostics by 142.1% in the 2nd quarter. Vanguard Group Inc. now owns 340,175 shares of the company’s stock valued at $281,000 after purchasing an additional 199,685 shares during the period. 5.07% of the stock is owned by institutional investors.

Co-Diagnostics Company Profile

Co-Diagnostics, Inc, a molecular diagnostics company, intends to manufacture and sell reagents used for diagnostic tests that function via the detection and/or analysis of nucleic acid molecules. It also intends to sell diagnostic equipment from other manufacturers as self-contained lab systems. Co-Diagnostics, Inc was founded in 2013 and is headquartered in Salt Lake City, Utah.

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