Co-Diagnostics (NASDAQ:CODX) Shares Down 0.9% – Time to Sell?

Co-Diagnostics, Inc. (NASDAQ:CODX)’s share price was down 0.9% on Monday . The company traded as low as $1.11 and last traded at $1.11. 103,524 shares traded hands during mid-day trading, a decline of 61% from the average session volume of 262,449 shares. The stock had previously closed at $1.12.

Analyst Ratings Changes

A number of brokerages have recently weighed in on CODX. Wall Street Zen upgraded Co-Diagnostics from a “sell” rating to a “hold” rating in a research note on Saturday, August 22nd. Weiss Ratings reissued a “sell (e+)” rating on shares of Co-Diagnostics in a research report on Tuesday, September 8th. Finally, Maxim Group upgraded Co-Diagnostics from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, August 18th. One equities research analyst has rated the stock with a Strong Buy rating, one has given a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $67.50.

Co-Diagnostics Stock Up 2.7%

The firm has a 50-day moving average of $1.61 and a two-hundred day moving average of $2.47. The company has a market capitalization of $7.96 million, a PE ratio of -0.11 and a beta of 2.85.

Co-Diagnostics (NASDAQ:CODX) last released its quarterly earnings results on Thursday, August 13th. The company reported ($1.46) EPS 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 company had revenue of $0.17 million for the quarter, compared to analyst estimates of $0.13 million.

Institutional Investors Weigh In On Co-Diagnostics

An institutional investor recently bought a new stake in Co-Diagnostics stock. Susquehanna International Group LLP bought a new position in shares of Co-Diagnostics, Inc. (NASDAQ:CODX) during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The fund bought 31,239 shares of the company’s stock, valued at approximately $97,000. Susquehanna International Group LLP owned about 0.85% of Co-Diagnostics as of its most recent SEC filing. Institutional investors and hedge funds own 14.99% of the company’s stock.

About Co-Diagnostics

Co-Diagnostics, Inc is a molecular diagnostics company headquartered in Salt Lake City, Utah, known for its proprietary CoPrimer™ technology. Founded in 2016, the company focuses on the design, development and distribution of molecular diagnostic test kits for the detection of infectious diseases, genetic mutations and other health-relevant biomarkers. Its core platform leverages patented cooperative primers, which are engineered to enhance specificity, sensitivity and cost-effectiveness compared to conventional PCR-based assays.

Through its in-house manufacturing and global supply chain partnerships, Co-Diagnostics produces a range of real-time polymerase chain reaction (qPCR) kits, reagents and customized assay development services.