In the last trading session, 1,649,313 shares of the Co-Diagnostics, Inc.(NASDAQ:CODX) were traded, and its beta was -1.75. Most recently the company’s share price was $17.04, and it changed around $1.12 or 0.07% from the last close, which brings the market valuation of the company to $481.71 Million. CODX currently trades at a discount to its 52-week high of $30.99, offering almost -81.87% off that amount. The share price’s 52-week low was $3.16, which indicates that the current value has risen by an impressive 81.46% since then. We note from Co-Diagnostics, Inc.’s average daily trading volume that its 10-day average is 1.38 Million shares, with the 3-month average coming to 1.83 Million.
Co-Diagnostics, Inc. stock received a consensus recommendation rating of Buy, based on a mean score of 2. If we narrow it down even further, the data shows that none out of 2 analysts rate the stock as a Sell; another but none rate it as Overweight. Among the rest, no body recommended CODX as a Hold, whereas 2 deemed it a Buy, and no one rated it as Underweight. Co-Diagnostics, Inc. is expected to report earnings per share of $0.48 for the current quarter.
Co-Diagnostics, Inc. (NASDAQ:CODX): Trading Information
Instantly CODX has showed a green trend with a performance of 7.04% at the end of last trading. The performance over the last five days has remained in the green territory. The rise to weekly highs of $18.45 on Tuesday, Feb 16 increased the stock’s daily price by 7.64%. The company’s shares are currently up 0.83% year-to-date, but still up 0.0519 over the last five days. On the other hand, Co-Diagnostics, Inc. (NASDAQ:CODX) is 0.44% up in the 30-day period. We can see from the shorts that 5.05 Million shares have been sold at a short interest cover period of 2.76 day(s).
The consensus price target as assigned by Wall Street analysts is $31, which translates to bears needing to increase their stock price by 81.92% from its current value. Analyst projections state that CODX is forecast to be at a low of $20 and a high of $43. In order for the stock price to hit the forecast high, the stock would need to surge +152.35% from its current level, while the stock would need to crash 17.37% from its current level to reach the projected low.
Co-Diagnostics, Inc. (CODX) projections and forecasts
Co-Diagnostics, Inc. share prices are performing particularly well compared to other companies within the same industry. As is evident from the statistics, the company’s shares have risen +17.27 percent over the past six months and at a 538.89% annual growth rate that is well above the industry average of 7.5%. Moreover, analysts have decided to roll up on their fiscal year 2021 revenue estimates. The rating firms predict that it will gain +633.3% in revenue this quarter, and will report an increase of 1100% in the next quarter. The year-over-year growth rate is expected to be 33560.5%, up from the previous year.
Consensus estimates provided by 3 financial analysts predict the company will bring in an average of $24.99 Million in revenue for the current quarter. 3 analysts expect Co-Diagnostics, Inc. to make $24.97 Million in revenue for the quarter ending March 01, 2021. The company’s sales for the same quarters a year ago were $109Million and $1.55 Million respectively. Analysts predict that the company’s current quarter sales will jump, forecast at 22826.6%. Forecasts for the next quarter put sales growth at 1512%.
Looking at the company’s year-over-year earnings, the past five years showed a negative earnings growth rate of -22.6%. Co-Diagnostics, Inc. earnings are expected to increase by 26.4% in 2021, but the outlook is negative 0% per year for the next five years.
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Co-Diagnostics, Inc. (NASDAQ:CODX)’s Biggest Investors
Upon looking at major shareholders, it appears that insiders hold 6.52% of Co-Diagnostics, Inc. shares, and 33.01% of them are in the hands of institutional investors. The stock currently has a share float of 35.31%. Co-Diagnostics, Inc. stock is held by 125 institutions, with Blackrock Inc. being the largest institutional investor. By Dec 30, 2020, it held 6.8% of the shares, which is about 1.92 Million shares worth $17.87 Million.
Vanguard Group, Inc. (The), with 5.17% or 1.46 Million shares worth $19.88 Million as of Sep 29, 2020, holds the second largest percentage of outstanding shares.