D. Boral Capital Initiates Coverage on Co-Diagnostics (NASDAQ:CODX)

Equities research analysts at D. Boral Capital started coverage on shares of Co-Diagnostics (NASDAQ:CODX) in a research note issued to investors on Monday,Benzinga reports. The brokerage set a “buy” rating and a $10.00 price target on the stock.

Separately, HC Wainwright cut their price target on Co-Diagnostics from $1.50 to $1.00 and set a “neutral” rating on the stock in a report on Friday, March 28th.

Co-Diagnostics Trading Down 3.5 %

Shares of Co-Diagnostics stock opened at $0.36 on Monday. The stock’s fifty day simple moving average is $0.42 and its 200 day simple moving average is $0.74. The company has a market capitalization of $12.03 million, a PE ratio of -0.26 and a beta of 1.21. Co-Diagnostics has a 12 month low of $0.28 and a 12 month high of $2.23.

Co-Diagnostics (NASDAQ:CODX) last released its quarterly earnings data on Thursday, March 27th. The company reported ($0.36) earnings per share for the quarter, missing the consensus estimate of ($0.34) by ($0.02). Co-Diagnostics had a negative net margin of 563.93% and a negative return on equity of 54.94%. The business had revenue of $0.15 million for the quarter, compared to the consensus estimate of $0.38 million. Analysts predict that Co-Diagnostics will post -1.22 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in the business. Thompson Davis & CO. Inc. lifted 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 buying an additional 15,700 shares in the last quarter. Geode Capital Management LLC increased its position in shares of Co-Diagnostics by 7.5% in the fourth quarter. Geode Capital Management LLC now owns 345,511 shares of the company’s stock valued at $259,000 after acquiring an additional 24,236 shares during the last quarter. Finally, Jane Street Group LLC bought a new stake in Co-Diagnostics during the third quarter worth about $55,000. Institutional investors and hedge funds 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.