HC Wainwright Lowers Co-Diagnostics (NASDAQ:CODX) Price Target to $1.00

Co-Diagnostics (NASDAQ:CODX) had its price target reduced by stock analysts at HC Wainwright from $1.50 to $1.00 in a report released on Friday,Benzinga reports. The firm currently has a “neutral” rating on the stock. HC Wainwright’s price target indicates a potential upside of 212.50% from the company’s current price.

Co-Diagnostics Stock Performance

NASDAQ:CODX opened at $0.32 on Friday. The company has a market cap of $10.22 million, a price-to-earnings ratio of -0.23 and a beta of 1.29. Co-Diagnostics has a fifty-two week low of $0.28 and a fifty-two week high of $2.23. The stock has a fifty day moving average price of $0.61 and a 200-day moving average price of $0.89.

Co-Diagnostics (NASDAQ:CODX) last posted its quarterly 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 net margin of 563.93% and a negative return on equity of 54.94%. The company had revenue of $0.15 million during the quarter, compared to analyst estimates of $0.38 million. Research analysts predict that Co-Diagnostics will post -1.22 EPS for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the company. Geode Capital Management LLC boosted its holdings in shares of Co-Diagnostics by 7.5% in the 4th quarter. Geode Capital Management LLC now owns 345,511 shares of the company’s stock valued at $259,000 after purchasing an additional 24,236 shares in the last quarter. Thompson Davis & CO. Inc. boosted its stake in Co-Diagnostics by 37.8% in the fourth quarter. Thompson Davis & CO. Inc. now owns 57,200 shares of the company’s stock valued at $43,000 after buying an additional 15,700 shares in the last quarter. Finally, Jane Street Group LLC bought a new position in Co-Diagnostics in the third quarter valued at about $55,000. 14.99% of the stock is currently owned by institutional investors and hedge funds.

About Co-Diagnostics

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.