Co-Diagnostics Inc. (NASDAQ:CODX) does about 3.35M shares in volume on a normal day but saw 2672633 shares change hands in Friday trading. The company now has a market cap of 404.04M USD and an enterprise value of about $385.56M. Its current market price is $14.86, marking an increase of 3.27% compared to the previous close of $14.39. The 52 week high reached by this stock is $30.99 whilst the lowest price level in 52 weeks is $0.85. The script in recent trading has seen the stock touch a high of $15.04 and a low of $14.08.
Co-Diagnostics Inc. (CODX) has a 20-day trading average at $21.51 and the current price is -52.05% off the 52-week high compared with 1655.88% distance from its 52-week low. The 50-day simple moving average of the closing price is $19.65 and its 200-day simple moving average is $10.55. If we look at the stock’s price movements over the week, volatility stands at 9.77%, which increases to 10.13% over 1 month. It is also key to look at other market indicators of price movement for the stock, where we see that the relative strength index (RSI) is at 35.14 to suggest the stock is neutral.
3 analysts observing the Co-Diagnostics Inc. (CODX) stock have set the 12-month price targets for the company’s shares at between $30.00 and $43.00. The median price target is 54.97% away from the current levels at $33.00.
FactSet Research has provided data showing that 3 brokerages have issued ratings for the stock. 0 analysts have rated it as a sell, while 0 advise that it is a overweight. 3 analysts have rated it as a buy and 0 have advised that investors hold their positions. The consensus recommendation rating is Buy and Wall Street’s advice is for investors to Moderate Buy the stock.
The company shares received a number of brokerage firm price updates over the past month, with the latest being on May 20, 2020 when Maxim Group upgraded the stock to “Buy” and issued a price target of. H.C. Wainwright reiterated its price target at $4-$20.
The current price level is -32.01%, -24.43%, and 41.79% away from its SMA20, SMA50, and SMA200 respectively, with the CODX price moving above the 50-day SMA on August 21. Co-Diagnostics Inc. (CODX) stock is down -8.78% over the week and -33.33% over the past month. Its price is 1559.96% year-to-date and 1215.04% over the past year.
The stock last released its quarterly earnings report for quarter ended 6/29/2020, with the company’s earnings per share (EPS) of $0.43 below consensus estimates by -$0.16. The company’s next earnings report is expected on 11/11/2020, with forecasts estimating quarterly EPS at $0.63 and $1.83 for whole year. CODX’s earnings per share are forecast to grow by 608.30% this year and 42.60% over next year. Expected sales for next quarter are $35.48 million, which analysts say will come at $93.86 million for the current fiscal year and next year at $145.54 million. In addition, estimates put the company’s current quarterly revenue at an average of $32.79 million.
Its 12-month price target is $33.00. Of course, the average price target is just what the average analysts believe a stock will be worth in the next 52 weeks, and is only one metric. There are analysts with lower targets than the average, including one bearish Wall Street research firm advocating investors to wait for the price to pull back to $30.00, given the recent momentum. And then, on the bullish side of things, one analyst is expecting the stock to peak at $43.00.
Outstanding shares total 27.58M with insiders holding 24.21% of the shares and institutional holders owning 9.17% of the company’s common stock. The company has a return on investment of -346.70% and return on equity of 56.20%. The price to earnings ratio (P/E ratio) amounts to 82.10 while the forward price to earnings ratio is 5.70. Price to book ratio is 12.28 and price to sales ratio is 15.72.
According to a U.S. Securities and Exchange Commission filing, Vanguard Total Stock Market Index has reduced its position in Co-Diagnostics Inc. (CODX) to 748,843 shares, mirroring a recent drop by 0.00%. Vanguard Total Stock Market Index dumped 0.0 shares of Co-Diagnostics Inc. common stock bringing its total worth to about $17.97 million at the end of recent close, SEC documents show. Vanguard Total Stock Market Index isn’t the only investment manager who changed stakes and is followed by iShares Russell 2000 ETF, which sold off 24990.0 shares to end up with 532,296 shares worth $12.78 million. Vanguard Extended Market Index Fu raise their holdings by 3.59% in the company over the course of the most recent quarter. It now holds a 1.07% position in Co-Diagnostics Inc. thanks to 0.29 million shares amounting to $7.03 million.