Co-Diagnostics (NASDAQ:CODX) announced its earnings results on Wednesday. The company reported $0.26 earnings per share for the quarter, beating the consensus estimate of $0.22 by $0.04, MarketWatch Earnings reports. Co-Diagnostics had a return on equity of 93.48% and a net margin of 53.81%.
Shares of NASDAQ:CODX traded up $1.30 during trading hours on Friday, hitting $8.46. 2,167,664 shares of the company’s stock traded hands, compared to its average volume of 1,363,074. The company’s fifty day simple moving average is $8.91 and its two-hundred day simple moving average is $11.78. The company has a market cap of $242.51 million, a price-to-earnings ratio of 10.44 and a beta of -3.30. Co-Diagnostics has a 52 week low of $7.01 and a 52 week high of $30.99.
A number of equities research analysts recently weighed in on the stock. HC Wainwright cut their price objective on shares of Co-Diagnostics from $30.00 to $16.00 and set a “buy” rating on the stock in a research note on Thursday, April 1st. Maxim Group downgraded shares of Co-Diagnostics from a “buy” rating to a “hold” rating in a research report on Monday, March 29th. Finally, Zacks Investment Research lowered shares of Co-Diagnostics from a “hold” rating to a “sell” rating in a research note on Tuesday, March 30th.
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. It offers polymerase chain reaction (PCR) diagnostic tests for COVID-19, tuberculosis, hepatitis B and C, human papilloma virus, malaria, chikungunya, dengue, and the zika virus; three multiplexed tests to test mosquitos for the identification of diseases carried by the mosquitos; and liquid biopsy test for cancer screening.
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