During the last session, Co-Diagnostics, Inc. (NASDAQ:CODX)’s traded shares were 1,233,451, with the beta value of the company hitting -1.93. At the end of the trading day, the stock’s price was $9.25, reflecting an intraday loss of -0.22% or -$0.02. The 52-week high for the CODX share is $30.99, that puts it down -235.03% from that peak though still a striking +15.03% gain since the share price plummeted to a 52-week low of $7.86. The company’s market capitalization is $265.16 Million, and the average intraday trading volume over the past 10 days was 2.08 Million shares, and the average trade volume was 1.63 Million shares over the past three months.
Co-Diagnostics, Inc. (CODX) received a consensus recommendation of Overweight from analysts. That translates to a mean rating of 2.3. CODX has a Sell rating from none of the analyst(s) out of 3 analysts who have looked at this stock. 1 analyst(s) recommend to Hold the stock while none of them suggest Overweight, and 2 recommend a Buy rating for it. None of the analyst(s) has rated the stock Underweight. Company’s earnings per share (EPS) for the current quarter are expected to be $0.22.
Co-Diagnostics, Inc. (NASDAQ:CODX): Trading Information
Co-Diagnostics, Inc. (CODX) registered a -0.22% downside in the last session and has traded in the green over the past 5 sessions. The stock spiked 6.69% in intraday trading to $9.91- this Thursday, Apr 01, hitting a weekly high. The stock’s 5-day price performance is 8.31%, and it has moved by -25.04% in 30 days. Based on these gigs, the overall price performance for the year is -0.54%. The short interest in Co-Diagnostics, Inc. (NASDAQ:CODX) is 4.09 Million shares and it means that shorts have 2.51 day(s) to cover.
The consensus price target of analysts on Wall Street is $22, which implies an increase of 137.84% to the stock’s current value. The extremes of the forecast give a target low and a target high price of $16 and $30 respectively. As a result, CODX is trading at a discount of 224.32% off the target high and 72.97% off the low.
Co-Diagnostics, Inc. (CODX) projections and forecasts
Statistics show that Co-Diagnostics, Inc. has underperformed its competitors in share price, compared to the industry in which it operates. Co-Diagnostics, Inc. (CODX) shares have jump down -37.63% during the last six months, with a year-to-date growth rate less than the industry average at -51.32% against 18.9%. Yet analysts are ramping up their growth forecast for the fiscal year 2021. Revenue is predicted to grow 540% this quarter and then fall -48.8% in the quarter after that. In the rating firms’ projections, revenue will decline -8.3% compared to the previous financial year.
Revenue for the current quarter is expected to be $19.89 Million as predicted by 3 analyst(s). Meanwhile, a consensus of 3 analyst(s) estimates revenue growth to $16.31 Million by the end of June 2021. As per earnings report from last fiscal year’s results, sales for the corresponding quarter totaled $1.55 Million. In this case, analysts expect current quarter sales to grow by 1184.1%.
An analysis of the company’s performance over the past 5 years shows that the company’s earnings grew an estimated 55%. While earnings are projected to return 510.3% in 2021, the next five years will return 0% per annum.
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Co-Diagnostics, Inc. (NASDAQ:CODX)’s Biggest Investors
Co-Diagnostics, Inc. insiders own 6.36% of total outstanding shares while institutional holders control 28.09%, with the float percentage being 29.99%. Blackrock Inc. is the largest shareholder of the company, while 133 institutions own stock in it. As of Dec 30, 2020, the company held over 1.92 Million shares (or 6.7% of all shares), a total value of $17.87 Million in shares.
The next largest institutional holding, with 1.61 Million shares, is of Vanguard Group, Inc. (The)’s that is approximately 5.63% of outstanding shares. At the market price on Dec 30, 2020, these shares were valued at $15.01 Million.
Also, the Mutual Funds coming in first place with the largest holdings of Co-Diagnostics, Inc. (CODX) shares are Vanguard Total Stock Market Index Fund and iShares Russell 2000 ETF. Data provided on Dec 30, 2020 indicates that Vanguard Total Stock Market Index Fund owns about 853,830 shares. This amounts to just over 2.98 percent of the company’s overall shares, with a $7.94 Million market value. The same data shows that the other fund manager holds slightly less at 686.05 Thousand, or about 2.39% of the stock, which is worth about $9.44 Million.