Is a Correction Looming Ahead for Co-Diagnostics, Inc. (CODX)

Co-Diagnostics, Inc. (NASDAQ:CODX) went up by 10.97% from its latest closing price compared to the recent 1-year high of $30.99. The company’s stock price has collected 35.62% of gains in the last five trading sessions.

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Is It Worth Investing in Co-Diagnostics, Inc. (NASDAQ :CODX) Right Now?

Co-Diagnostics, Inc. (NASDAQ:CODX) scored a price-to-earnings ratio above its average ratio, recording 76.57 x from its present earnings ratio. Opinions of the stock are interesting as 3 analysts out of 3 who provided ratings for Co-Diagnostics, Inc. declared the stock was a “buy,” while 0 rated the stock as “overweight,” 0 rated it as “hold,” and 0 as “sell.”

The average price from analysts is $35.33, which is -$13.86 below the current price. CODX currently public float of 25.08M and currently shorts hold a 31.28% ratio of that float. Today, the average trading volume of CODX was 4.24M shares.

CODX’s Market Performance

CODX stocks went up by 35.62% for the week, with a monthly drop of -11.86% and a quarterly performance of -16.05%, while its annual performance rate touched 1195.33%. The volatility ratio for the week stands at 16.68% while the volatility levels for the past 30 days are set at 13.89% for Co-Diagnostics, Inc.. The simple moving average for the period of the last 20 days is 14.55% for CODX stocks with a simple moving average of 21.68% for the last 200 days.

Analysts’ Opinion of CODX

H.C. Wainwright, on the other hand, stated in their research note that they expect to see CODX reach a price target of $35, previously predicting the value of $20. The rating they have provided for CODX stocks is “Buy” according to the report published on May 18th, 2020.

H.C. Wainwright gave a rating of “Buy” to CODX, setting the target price at $20 in the report published on March 9th of the current year.

CODX Trading at -21.53% from the 50-Day Moving Average

After a stumble in the market that brought CODX to its low price for the period of the last 52 weeks, the company was unable to rebound, for now settling with -55.28% of loss for the given period.

Volatility was left at 13.89%, however, over the last 30 days, the volatility rate increased by 16.68%, as shares sank -10.15% for the moving average over the last 20 days. Over the last 50 days, in opposition, the stock is trading -22.74% lower at present.

During the last 5 trading sessions, CODX rose by +35.62%, which changed the moving average for the period of 200-days by +1,457.13% in comparison to the 20-day moving average, which settled at $12.02. In addition, Co-Diagnostics, Inc. saw 1448.26% in overturn over a single year, with a tendency to cut further gains.

Insider Trading

Reports are indicating that there were more than several insider trading activities at CODX starting from SERBIN RICHARD S, who sold 25,000 shares at the price of $18.02 back on May 28. After this action, SERBIN RICHARD S now owns 0 shares of Co-Diagnostics, Inc., valued at $450,525 using the latest closing price.

Durenard Eugene, the Director of Co-Diagnostics, Inc., sold 25,000 shares at $18.26 during a trade that took place back on May 26, which means that Durenard Eugene is holding 0 shares at $456,500 based on the most recent closing price.

Stock Fundamentals for CODX

Current profitability levels for the company are sitting at:

  • -2741.61 for the present operating margin
  • +17.04 for the gross margin

The net margin for Co-Diagnostics, Inc. stands at -2882.00. The total capital return value is set at -455.64, while invested capital returns managed to touch -1,826.40. Equity return is now at value 56.20, with 51.40 for asset returns.

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