While Co-Diagnostics Inc has underperformed by -2.11%, investors are advised to look at stock chart patterns for technical insight. Within its last year performance, CODX rose by 3.73%, with highs and lows ranging from $2.23 to $0.98, whereas the simple moving average jumped by 12.88% in the last 200 days.
On August 12, 2022, Sidoti Downgraded Co-Diagnostics Inc (NASDAQ: CODX) to Neutral. A report published by Sidoti on December 29, 2021, Initiated its previous ‘Buy’ rating for CODX. H.C. Wainwright resumed its ‘Buy’ rating for CODX, as published in its report on May 18, 2020. H.C. Wainwright’s report from March 09, 2020 suggests a price prediction of $20 for CODX shares, giving the stock a ‘Buy’ rating. Maxim Group also rated the stock as ‘Hold’.
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Analysis of Co-Diagnostics Inc (CODX)
Further, the quarter-over-quarter decrease in sales is -18.56%, showing a negative trend in the upcoming months.
There are several well-rounded types of analysis and research techniques that can be used to gain a clear view of Co-Diagnostics Inc’s future performance, with equity being one of the most critical indicators. The goal here is to ensure that your current return on equity of -42.73% is sufficient for you to turn a profit off your investment. Taking into account the quick ratio of the company, currently set at 8.81, you can see that the company can cover any debts it may have, which can easily be seen in the annual report of the company.
As an indicator of volatility for any stock, average volume can also be very valuable, and CODX is recording an average volume of 283.46K. On a monthly basis, the volatility of the stock is set at 15.68%, whereas on a weekly basis, it is put at 17.15%, with a loss of -20.57% over the past seven days. Furthermore, long-term investors anticipate a median target price of $2.00, showing growth from the present price of $1.39, which can serve as yet another indication of whether CODX is worth investing in or should be passed over.
How Do You Analyze Co-Diagnostics Inc Shares?
Apart from looking at the fundamentals, you should also pay attention to the number of company employees who own shares. This is because the values should be in line with investors’ expectations. As such, the current holdings of company stock inside the company are set at 5.40%. This can enable you to see the extent to which executives own the company’s stock. As opposed to executive stock, institutional ownership accounts for 15.28% of the company’s shares, contributing to an indication of company value, since large shareholders may signify strength within the organization.
CODX shares are owned by institutional investors to the tune of 15.28% at present.
