CODX has 36-month beta value of -0.88. Analysts have mixed views on the stock, with 0 analysts rating it as a “buy,” 0 as “overweight,” 0 as “hold,” and 0 as “sell.”
The public float for CODX is 30.19M, and currently, short sellers hold a 1.03% ratio of that float. The average trading volume of CODX on August 19, 2024 was 144.03K shares.
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CODX) stock’s latest price update
The stock of Co-Diagnostics Inc (NASDAQ: CODX) has increased by 26.74 when compared to last closing price of 1.37. Despite this, the company has experienced a 50.43% gain in its stock price over the last five trading sessions. prnewswire.com reported 2024-08-15 that SALT LAKE CITY, Aug. 15, 2024 /PRNewswire/ — Co-Diagnostics, Inc. (Nasdaq-CM: CODX) (the “Company”), a molecular diagnostics company with a unique, patented platform for the development of molecular diagnostic tests, announced today that it will be sponsoring, presenting and hosting a booth at the 16th Annual Next Generation Dx Summit, held virtually and in-person in Washington, D.C. on August 19-21, 2024.
CODX’s Market Performance
Co-Diagnostics Inc (CODX) has seen a 50.43% rise in stock performance for the week, with a 36.22% gain in the past month and a 58.72% surge in the past quarter. The volatility ratio for the week is 10.89%, and the volatility levels for the past 30 days are at 8.15% for CODX. The simple moving average for the past 20 days is 49.40% for CODX’s stock, with a 42.49% simple moving average for the past 200 days.
Analysts’ Opinion of CODX
Many brokerage firms have already submitted their reports for CODX stocks, with Sidoti repeating the rating for CODX by listing it as a “Neutral.” The predicted price for CODX in the upcoming period, according to Sidoti is $5 based on the research report published on August 12, 2022 of the previous year 2022.
Sidoti, on the other hand, stated in their research note that they expect to see CODX reach a price target of $14. The rating they have provided for CODX stocks is “Buy” according to the report published on December 29th, 2021.
CODX Trading at 35.38% 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 able to rebound, for now settling with 0.16% of gains for the given period.
Volatility was left at 8.15%, however, over the last 30 days, the volatility rate increased by 10.89%, as shares surge +28.35% for the moving average over the last 20 days. Over the last 50 days, in opposition, the stock is trading +13.99% upper at present.
During the last 5 trading sessions, CODX rose by +41.74%, which changed the moving average for the period of 200-days by +52.34% in comparison to the 20-day moving average, which settled at $1.1760. In addition, Co-Diagnostics Inc saw 30.08% in overturn over a single year, with a tendency to cut further gains.
Stock Fundamentals for CODX
Current profitability levels for the company are sitting at:
- -6.44 for the present operating margin
- 0.28 for the gross margin
The net margin for Co-Diagnostics Inc stands at -5.85. The total capital return value is set at -0.55. Equity return is now at value -42.73, with -38.83 for asset returns.
Based on Co-Diagnostics Inc (CODX), the company’s capital structure generated 0.03 points at debt to capital in total, while cash flow to debt ratio is standing at -9.71. The debt to equity ratio resting at 0.04. The interest coverage ratio of the stock is -12.21.
Currently, EBITDA for the company is -47.3 million with net debt to EBITDA at 0.28. When we switch over and look at the enterprise to sales, we see a ratio of 7.08. The receivables turnover for the company is 11.65for trailing twelve months and the total asset turnover is 0.08. The liquidity ratio also appears to be rather interesting for investors as it stands at 9.09.
Conclusion
To put it simply, Co-Diagnostics Inc (CODX) has had a better performance in recent times. Analysts have a mixed opinion on the stock, with some rating it as a “buy” and others as a “hold”. It is worth mentioning that the stock is currently trading in close proximity to its 50-day moving average and its 52-week high.
