Co Diagnostics Stock Today
| CODX Stock | USD 1.14 0.03 2.56% |
Performance0 of 100
| Odds Of DistressLess than 11
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Co Diagnostics is trading at 1.14 as of the 18th of April 2024; that is -2.56 percent down since the beginning of the trading day. The stock's open price was 1.17. Co Diagnostics has less than a 11 % chance of experiencing some financial distress in the next two years of operation, but has generated negative returns over the last 90 days. Equity ratings for Co Diagnostics are calculated daily based on our scoring framework. The performance scores are derived for the period starting the 21st of October 2023 and ending today, the 18th of April 2024. Click here to learn more.
Business Domain Health Care Equipment & Services | IPO Date 12th of July 2017 | Category Healthcare | Classification Health Care |
Co-Diagnostics, Inc., a molecular diagnostics company, develops, manufactures, and sells reagents used for diagnostic tests that function through the detection andor analysis of nucleic acid molecules in the United States and internationally. The company was incorporated in 2013 and is headquartered in Salt Lake City, Utah. The company has 31.26 M outstanding shares of which 496.5 K shares are currently shorted by private and institutional investors with about 8.28 trading days to cover. More on Co Diagnostics
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Follow Valuation Options Odds of Bankruptcy
Financial Report 9th of May 2024
CODX Stock Highlights
Most reasonable investors view market volatility as an opportunity to invest at a favorable price or to sell short against a bearish trend. Co Diagnostics' investment highlights are automatically generated signals that are significant enough to either complement your investing judgment regarding Co Diagnostics or challenge it. These highlights can help you better understand the position you are entering and avoid costly mistakes.
| Chairman | Dwight Egan | |||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Business Concentration | Health Care Equipment & Supplies, Health Care Equipment & Services, Health Care, NASDAQ Composite, NASDAQ Health Care, Health Care, Health Care Equipment & Supplies, Medical Devices, Healthcare (View all Sectors) | |||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Average Analyst Recommendation Analysts covering Co Diagnostics report their recommendations after researching Co Diagnostics' financial statements, talking to executives and customers, or listening in on Co Diagnostics' conference calls. The current trade recommendation is based on an ongoing consensus estimate among financial analysts covering Co Diagnostics. The CODX consensus assessment is calculated by taking the average forecast from all of the analysts covering Co Diagnostics. | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Financial Strength Based on the key indicators related to Co Diagnostics' liquidity, profitability, solvency, and operating efficiency, Co Diagnostics is not in a good financial situation at this time. It has a very high probability of going through financial hardship in May. Financial strength of Co Diagnostics is based on its profitability, leverage, liquidity, source of funds, and operating efficiency.
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Co Diagnostics' financial strength is of vital concern to both outside investors and internal stakeholders. Efficiency and cost control are keys to Co Diagnostics' success, along with its ability to generate sufficient cash flow to pay bills, repay debt, and make a consistent year-to-year profit. | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Financial leverage usually refers to the use of borrowed funds to amplify returns from an investment. In general, analyzing the relationship between debt to total assets helps investors to understand Co Diagnostics' financial leverage. It provides some insight into what part of Co Diagnostics' total assets is financed by creditors.
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Co Diagnostics (CODX) is traded on NASDAQ Exchange in USA. It is located in 2401 South Foothill Drive, Salt Lake City, UT, United States, 84109 and employs 155 people. Co Diagnostics is listed under Health Care Equipment & Supplies category by Fama And French industry classification. The company currently falls under 'Micro-Cap' category with a current market capitalization of 36.26 M. Market capitalization usually refers to the total value of a company's stock within the entire market. To calculate Co Diagnostics's market, we take the total number of its shares issued and multiply it by Co Diagnostics's current market price. To manage market risk and economic uncertainty, many investors today build portfolios that are diversified across equities with different market capitalizations. However, as a general rule, conservative investors tend to hold large-cap stocks, and those looking for more risk prefer small-cap and mid-cap equities. Co Diagnostics conducts business under Health Care Equipment & Supplies sector and is part of Health Care industry. The entity has 31.26 M outstanding shares of which 496.5 K shares are currently shorted by private and institutional investors with about 8.28 trading days to cover.
Co Diagnostics currently holds about 86.49 M in cash with (22.08 M) of positive cash flow from operations. This results in cash-per-share (CPS) ratio of 2.8, which can makes it an attractive takeover target, given it will continue generating positive cash flow.
Check Co Diagnostics Probability Of Bankruptcy
Ownership AllocationCo Diagnostics secures a total of 31.26 Million outstanding shares. Roughly 81.0 % of Co Diagnostics outstanding shares are held by general public with 2.683999999999999 percent owned by insiders and only 15.83 (percent) by institutions. Please note that no matter how many assets the company retains, if the real value of the firm is less than the current market value, you may not be able to make money on it.
Check CODX Ownership Details
CODX Stock Price Odds Analysis
Based on a normal probability distribution, the odds of Co Diagnostics jumping above the current price in 90 days from now is about 73.24%. The Co Diagnostics probability density function shows the probability of Co Diagnostics stock to fall within a particular range of prices over 90 days. Given the investment horizon of 90 days the stock has a beta coefficient of 1.0942 suggesting Co Diagnostics market returns are sensitive to returns on the market. As the market goes up or down, Co Diagnostics is expected to follow. Additionally, co Diagnostics has a negative alpha, implying that the risk taken by holding this instrument is not justified. The company is significantly underperforming the NYSE Composite.
Based on a normal probability distribution, the odds of Co Diagnostics to move above the current price in 90 days from now is about 73.24 (This Co Diagnostics probability density function shows the probability of CODX Stock to fall within a particular range of prices over 90 days) .
CODX Stock Institutional Holders
Institutional Holdings refers to the ownership stake in Co Diagnostics that is held by large financial organizations, pension funds or endowments. Institutions may purchase large blocks of Co Diagnostics' outstanding shares and can exert considerable influence upon its management. Institutional holders may also work to push the share price higher once they own the stock. Extensive social media coverage, TV shows, articles in high-profile magazines, and presentations at investor conferences help move the stock higher, increasing Co Diagnostics' value.| Instituion | Recorded On | Shares | |
| Man Group Plc | 2023-12-31 | 74.1 K | |
| Citadel Advisors Llc | 2023-09-30 | 72.3 K | |
| Koss-olinger Consulting, Llc | 2023-12-31 | 58.7 K | |
| Northern Trust Corp | 2023-12-31 | 55.2 K | |
| Jane Street Group, Llc | 2023-12-31 | 47.4 K | |
| D. E. Shaw & Co Lp | 2023-09-30 | 46.4 K | |
| Uma Financial Services Inc | 2023-12-31 | 31.4 K | |
| Simplex Trading, Llc | 2023-12-31 | 24.6 K | |
| Envestnet Asset Management Inc | 2023-12-31 | 24.2 K | |
| Vanguard Group Inc | 2023-12-31 | 1.8 M | |
| Renaissance Technologies Corp | 2023-12-31 | 617 K |
Co Diagnostics Historical Income Statement
Co Diagnostics Income Statement is one of the three primary financial statements used for reporting CODX's overall financial performance over a current year or for a given accounting period. An Income Statement sometimes referred to as the statement of Co Diagnostics revenue and expense. Co Diagnostics Income Statement primarily focuses on the company's revenues and expenses during a particular period.
At this time, Co Diagnostics' Non Operating Income Net Other is fairly stable compared to the past year. View More FundamentalsCODX Stock Against Markets
Picking the right benchmark for Co Diagnostics stock is fundamental to making educated investment choices. Many naive investors compare their positions with the S&P 500 or with the Nasdaq. But these benchmarks are not all-inclusive and generally should be used only for large-capitalization equities or stock offerings from large companies. When the price of a selected benchmark declines in a down market, there may be an uptick in Co Diagnostics stock price where buyers come in believing the asset is cheap. The opposite is true when the market is bullish; so, accurately picking the benchmark for Co Diagnostics is critical whether you are bullish or bearish towards Co Diagnostics at a given time. Please also check how Co Diagnostics' historical prices are related to one of the top price index indicators.
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Our tools can tell you how much better you can do entering a position in Co Diagnostics without increasing your portfolio risk or giving up the expected return. As an individual investor, you need to find a reliable way to track all your investment portfolios. However, your requirements will often be based on how much of the process you decide to do yourself. In addition to allowing all investors analytical transparency into all their portfolios, our tools can evaluate risk-adjusted returns of your individual positions relative to your overall portfolio.Did you try this?
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Co Diagnostics Corporate Directors
Co Diagnostics corporate directors refer to members of a Co Diagnostics board of directors. The board of directors generally takes responsibility for the Co Diagnostics' affairs and long-term direction of the entity. A corporate director does not make decisions for the corporation on his own. As a member of the board of directors, she or he must function as a part of a group that makes decisions on behalf of the business only by the board of directors' meetings. To pass a resolution, a majority of Co Diagnostics' board members must vote for the resolution. The Co Diagnostics board of directors' duties also include the election, removal, and supervision of officers, including the adoption, amendment, and repeal of bylaws.| Edward Borkowski | Independent Director | Profile | |
| Richard Serbin | Independent Director | Profile | |
| Edward Murphy | Independent Director | Profile | |
| Frank Kiesner | Independent Director | Profile |
How to buy CODX Stock?
Before investing in Co Diagnostics, you must ensure you fully understand your financial goals and how diversified (or not) your overall investments are now. Then, after you clearly understand your investment objectives, consider investing in Co Diagnostics. To buy Co Diagnostics stock, you can follow these steps:- Choose a brokerage firm: You need to select a brokerage firm to buy shares of Co Diagnostics. Some popular options include Charles Schwab, Fidelity, TD Ameritrade, and Robinhood.
- Open an account: Once you have chosen a brokerage firm, you will need to open an account. You will be required to provide personal information, such as your name, address, and Social Security number.
- Fund your account: You will need to deposit funds into your brokerage account to purchase Co Diagnostics stock. You can do this by transferring funds from your bank account or other investment accounts.
- Place your order: Once you have located Co Diagnostics stock in your brokerage account, you can place your order to buy it. You will need to specify the number of shares you want to buy and the price you are willing to pay.
- Monitor your investment: After you have purchased Co Diagnostics stock, you should monitor your investment to track its performance and make informed decisions about buying, selling, or holding the stock
It's important to note that investing in stocks, such as Co Diagnostics, carries risks, and you should carefully consider your investment goals and risk tolerance before making any investment decisions. Also, remember various factors, including economic indicators, change in net worth, political events, company-specific news, and investor sentiment, can influence the stock market. These factors can cause fluctuations in stock prices and lead to market volatility affecting your buy or sell decision. However, volatility can also present opportunities for investors to make gains by buying stocks when prices are low and selling when they are high. It's important for investors to have a long-term perspective and a well-diversified portfolio to manage the impact of stock market volatility on their investments. For more information on how to buy CODX Stock please use our How to Invest in Co Diagnostics guide.
Already Invested in Co Diagnostics?
The danger of trading Co Diagnostics is mainly related to its market volatility and Company specific events. As an investor, you must understand the concept of risk-adjusted return before you start trading. The most common way to measure the risk of Co Diagnostics is by using the Sharpe ratio. The ratio expresses how much excess return you acquire for the extra volatility you endure for holding a more risker asset than Co Diagnostics. The Sharpe ratio is calculated by using standard deviation and excess return to determine reward per unit of risk. To understand how volatile Co Diagnostics is, you must compare it to a benchmark. Traditionally, the risk-free rate of return is the rate of return on the shortest-dated U.S. Treasury, such as a 3-year bond.
When determining whether Co Diagnostics offers a strong return on investment in its stock, a comprehensive analysis is essential. The process typically begins with a thorough review of Co Diagnostics' financial statements, including income statements, balance sheets, and cash flow statements, to assess its financial health. Key financial ratios are used to gauge profitability, efficiency, and growth potential of Co Diagnostics Stock. Outlined below are crucial reports that will aid in making a well-informed decision on Co Diagnostics Stock: Check out Trending Equities to better understand how to build diversified portfolios, which includes a position in Co Diagnostics. Also, note that the market value of any company could be tightly coupled with the direction of predictive economic indicators such as signals in unemployment. For more information on how to buy CODX Stock please use our How to Invest in Co Diagnostics guide.Note that the Co Diagnostics information on this page should be used as a complementary analysis to other Co Diagnostics' statistical models used to find the right mix of equity instruments to add to your existing portfolios or create a brand new portfolio. You can also try the Premium Stories module to follow Macroaxis premium stories from verified contributors across different equity types, categories and coverage scope.
Complementary Tools for CODX Stock analysis
When running Co Diagnostics' price analysis, check to measure Co Diagnostics' market volatility, profitability, liquidity, solvency, efficiency, growth potential, financial leverage, and other vital indicators. We have many different tools that can be utilized to determine how healthy Co Diagnostics is operating at the current time. Most of Co Diagnostics' value examination focuses on studying past and present price action to predict the probability of Co Diagnostics' future price movements. You can analyze the entity against its peers and the financial market as a whole to determine factors that move Co Diagnostics' price. Additionally, you may evaluate how the addition of Co Diagnostics to your portfolios can decrease your overall portfolio volatility.
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Is Co Diagnostics' industry expected to grow? Or is there an opportunity to expand the business' product line in the future? Factors like these will boost the valuation of Co Diagnostics. If investors know CODX will grow in the future, the company's valuation will be higher. The financial industry is built on trying to define current growth potential and future valuation accurately. All the valuation information about Co Diagnostics listed above have to be considered, but the key to understanding future value is determining which factors weigh more heavily than others.
Quarterly Earnings Growth 0.308 | Earnings Share (1.20) | Revenue Per Share 0.232 | Quarterly Revenue Growth 1.537 | Return On Assets (0.24) |
The market value of Co Diagnostics is measured differently than its book value, which is the value of CODX that is recorded on the company's balance sheet. Investors also form their own opinion of Co Diagnostics' value that differs from its market value or its book value, called intrinsic value, which is Co Diagnostics' true underlying value. Investors use various methods to calculate intrinsic value and buy a stock when its market value falls below its intrinsic value. Because Co Diagnostics' market value can be influenced by many factors that don't directly affect Co Diagnostics' underlying business (such as a pandemic or basic market pessimism), market value can vary widely from intrinsic value.
Please note, there is a significant difference between Co Diagnostics' value and its price as these two are different measures arrived at by different means. Investors typically determine if Co Diagnostics is a good investment by looking at such factors as earnings, sales, fundamental and technical indicators, competition as well as analyst projections. However, Co Diagnostics' price is the amount at which it trades on the open market and represents the number that a seller and buyer find agreeable to each party.