HC Wainwright Has Lowered Expectations for Co-Diagnostics (NASDAQ:CODX) Stock Price

Co-Diagnostics (NASDAQ:CODX) had its price target reduced by HC Wainwright from $1.50 to $1.00 in a research note released on Friday morning,Benzinga reports. HC Wainwright currently has a neutral rating on the stock.

Co-Diagnostics Stock Down 18.3 %

Shares of CODX stock opened at $0.32 on Friday. The business has a fifty day simple moving average of $0.61 and a 200 day simple moving average of $0.89. The company has a market cap of $10.22 million, a P/E ratio of -0.23 and a beta of 1.29. Co-Diagnostics has a twelve month low of $0.28 and a twelve month high of $2.23.

Co-Diagnostics (NASDAQ:CODX) last posted its 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). Co-Diagnostics had a negative return on equity of 54.94% and a negative net margin of 563.93%. The company had revenue of $0.15 million during the quarter, compared to the consensus estimate of $0.38 million. As a group, equities research analysts anticipate that Co-Diagnostics will post -1.22 earnings per share for the current fiscal year.

Institutional Trading of Co-Diagnostics

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Thompson Davis & CO. Inc. grew its position in 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 during the last quarter. Geode Capital Management LLC grew its holdings in shares of Co-Diagnostics by 7.5% during the fourth quarter. Geode Capital Management LLC now owns 345,511 shares of the company’s stock worth $259,000 after purchasing an additional 24,236 shares during the last quarter. Finally, Jane Street Group LLC acquired a new position in shares of Co-Diagnostics in the third quarter valued at approximately $55,000. Institutional investors own 14.99% of the company’s stock.

Co-Diagnostics Company Profile

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.