During the last session, Co-Diagnostics Inc. (NASDAQ:CODX)’s traded shares were 0.41 million, with the beta value of the company hitting -1.14. At the end of the trading day, the stock’s price was $4.55, reflecting an intraday gain of 14.90% or $0.59. The 52-week high for the CODX share is $11.82, that puts it down -159.78 from that peak though still a striking 19.56% gain since the share price plummeted to a 52-week low of $3.66. The company’s market capitalization is $161.43M, and the average trade volume was 365.89K shares over the past three months.
Co-Diagnostics Inc. (CODX) received a consensus recommendation of a Buy from analysts. That translates to a mean rating of 2.30. CODX has a Sell rating from 0 analyst(s) out of 3 analysts who have looked at this stock. 0 analyst(s) recommend to Hold the stock while 0 suggest Overweight, and 3 recommend a Buy rating for it. 0 analyst(s) has rated the stock Underweight. Company’s earnings per share (EPS) for the current quarter are expected to be $0.12.
Co-Diagnostics Inc. (NASDAQ:CODX) trade information
Co-Diagnostics Inc. (CODX) registered a 14.90% upside in the last session and has traded in the green over the past 5 sessions. The stock spiked 14.90% in intraday trading to $4.55 this Friday, 05/13/22, hitting a weekly high. The stock’s 5-day price performance is 6.56%, and it has moved by -19.89% in 30 days. Based on these gigs, the overall price performance for the year is -46.22%.
The consensus price target of analysts on Wall Street is $19.33, which implies an increase of 76.46% to the stock’s current value. The extremes of the forecast give a target low and a target high price of $14.00 and $29.00 respectively. As a result, CODX is trading at a discount of -537.36% off the target high and -207.69% off the low.
Co-Diagnostics Inc. (CODX) estimates 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 gone down -47.40% during the last six months, with a year-to-date growth rate less than the industry average at -37.40% against 7.10. Yet analysts are ramping up their growth forecast for the fiscal year 2022. Revenue is predicted to shrink -63.60% this quarter and then drop -63.20% in the quarter after that. In the rating firms’ projections, revenue will decrease -13.30% compared to the previous financial year.
Revenue for the current quarter is expected to be $20.67 million as predicted by 3 analyst(s). Meanwhile, a consensus of 3 analyst(s) estimates revenue growth to $22 million by the end of Sep 2022. As per earnings report from last fiscal year’s results, sales for the corresponding quarters totaled $20.77 million and $30.1 million respectively. In this case, analysts expect current quarter sales to shrink by -0.50% and then drop by -26.90% in the coming quarter.
An analysis of the company’s performance over the past 5 years shows that the company’s earnings grew an estimated 52.60%. While earnings are projected to return -19.20% in 2022.
Co-Diagnostics Inc. is due to release its next quarterly earnings between August 10 and August 15. However, it is important to remember that the dividend yield ratio is merely an indicator meant to only serve as guidance.
Co-Diagnostics Inc. (NASDAQ:CODX)’s Major holders
Co-Diagnostics Inc. insiders own 0.33% of total outstanding shares while institutional holders control 20.95%, with the float percentage being 21.02%. Vanguard Group, Inc. (The) is the largest shareholder of the company, while 103 institutions own stock in it. As of Dec 30, 2021, the company held over 1.8 million shares (or 5.28% of all shares), a total value of $16.03 million in shares.
The next largest institutional holding, with 0.77 million shares, is of Susquehanna International Group, LLP’s that is approximately 2.26% of outstanding shares. At the market price on Dec 30, 2021, these shares were valued at $6.85 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 Vanguard Extended Market Index Fund. Data provided on Dec 30, 2021 indicates that Vanguard Total Stock Market Index Fund owns about 0.8 million shares. This amounts to just over 2.35 percent of the company’s overall shares, with a $7.14 million market value. The same data shows that the other fund manager holds slightly less at 0.38 million, or about 1.11% of the stock, which is worth about $3.37 million.