Co-Diagnostics (NASDAQ:CODX) Shares Down 4.5%

Co-Diagnostics, Inc. (NASDAQ:CODX) was down 4.5% during mid-day trading on Monday . The company traded as low as $1.27 and last traded at $1.28. Approximately 126,440 shares traded hands during trading, a decline of 17% from the average daily volume of 151,951 shares. The stock had previously closed at $1.34.

Wall Street Analysts Forecast Growth

Separately, HC Wainwright cut their price target on Co-Diagnostics from $2.00 to $1.50 and set a “neutral” rating on the stock in a research note on Monday, August 12th.

Co-Diagnostics Stock Performance

The company has a market capitalization of $40.04 million, a PE ratio of -0.97 and a beta of -0.86. The company has a 50 day moving average price of $1.29 and a 200 day moving average price of $1.23.

Co-Diagnostics (NASDAQ:CODX) last posted its quarterly earnings results on Thursday, August 8th. The company reported ($0.25) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.34) by $0.09. The firm had revenue of $2.66 million for the quarter, compared to analysts’ expectations of $0.40 million. Co-Diagnostics had a negative net margin of 411.18% and a negative return on equity of 44.69%. On average, equities analysts forecast that Co-Diagnostics, Inc. will post -1.23 earnings per share for the current fiscal year.

Institutional Trading of Co-Diagnostics

A hedge fund recently raised its stake in Co-Diagnostics stock. SMI Advisory Services LLC grew its position in Co-Diagnostics, Inc. (NASDAQ:CODX) by 117.7% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 38,089 shares of the company’s stock after acquiring an additional 20,590 shares during the quarter. SMI Advisory Services LLC owned approximately 0.12% of Co-Diagnostics worth $43,000 as of its most recent filing with the Securities and Exchange Commission. 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.