Analysts Anticipate Co-Diagnostics Inc (NASDAQ:CODX) to Announce ($0.03) EPS

Co-Diagnostics Inc (NASDAQ:CODX) has been given an average broker rating score of 1.00 (Strong Buy) from the two analysts that provide coverage for the stock, Zacks Investment Research reports. Two investment analysts have rated the stock with a strong buy recommendation.

Brokerages have set a 1 year consensus price target of $2.00 for the company and are expecting that the company will post ($0.03) EPS for the current quarter, according to Zacks. Zacks has also assigned Co-Diagnostics an industry rank of 90 out of 256 based on the ratings given to its competitors.

Several brokerages have recently weighed in on CODX. Zacks Investment Research cut Co-Diagnostics from a “hold” rating to a “sell” rating in a research report on Monday, July 8th. HC Wainwright set a $2.00 price target on Co-Diagnostics and gave the company a “buy” rating in a research report on Friday, July 19th. Finally, Maxim Group set a $2.00 price target on Co-Diagnostics and gave the company a “buy” rating in a research report on Thursday, July 11th.

Shares of CODX opened at $1.26 on Friday. The firm’s 50-day moving average is $1.08. Co-Diagnostics has a twelve month low of $0.69 and a twelve month high of $3.77.

Co-Diagnostics (NASDAQ:CODX) last announced its quarterly earnings results on Wednesday, May 15th. The company reported ($0.09) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.08) by ($0.01). Co-Diagnostics had a negative net margin of 19,057.66% and a negative return on equity of 430.95%. On average, sell-side analysts predict that Co-Diagnostics will post -0.09 EPS for the current year.

An institutional investor recently raised its position in Co-Diagnostics stock. HighTower Advisors LLC increased its stake in Co-Diagnostics Inc (NASDAQ:CODX) by 13.0% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 130,002 shares of the company’s stock after purchasing an additional 15,000 shares during the period. HighTower Advisors LLC owned approximately 0.76% of Co-Diagnostics worth $107,000 as of its most recent SEC filing. Hedge funds and other institutional investors own 10.61% of the company’s stock.

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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