Last Updated: 14 Nov 2024
Executive Summary
Co-Diagnostics Inc. (CODX) is a molecular diagnostic company that develops, manufactures, and sells reagents used for diagnostic tests. The company has a market capitalization of $35.44 million and its latest stock price is $1.11. Co-Diagnostics has been experiencing revenue growth, but its profitability metrics are negative. The company has a strong balance sheet with a book value of $1.998 per share. The analyst target price for CODX is $1.50, which implies a potential upside of 35.1%.
Company Overview
Co-Diagnostics is headquartered in Salt Lake City, Utah. The company's products are used in a variety of settings, including hospitals, clinics, and laboratories. Co-Diagnostics has a global presence with operations in the United States, Europe, and Asia.
Fundamental Analysis
Co-Diagnostics has been experiencing revenue growth. In the most recent quarter, the company's revenue increased by 0.308% year-over-year. However, the company's profitability metrics are negative. In the most recent quarter, Co-Diagnostics reported a net loss of $3.87 million. The company's gross profit margin is 39.3%, and its operating margin is -15.96%.
Co-Diagnostics has a strong balance sheet. The company has $19.9 million in cash and equivalents and no debt. The company's book value is $1.998 per share.
Technical Analysis
Co-Diagnostics' stock price has been trending down in recent months. The stock is currently trading below its 50-day and 200-day moving averages. The stock's relative strength index (RSI) is 30.6, which indicates that the stock is oversold.
Short Term Outlook
The short-term outlook for Co-Diagnostics is mixed. The company's revenue growth is expected to continue, but its profitability metrics are expected to remain negative. The stock's technical indicators suggest that the stock could continue to trend down in the short term.
Long Term Outlook
The long-term outlook for Co-Diagnostics is positive. The company's products are used in a variety of settings, and the company has a global presence. The company's strong balance sheet provides it with the financial flexibility to invest in new products and markets.
Analyst Recommendations
The analyst target price for CODX is $1.50, which implies a potential upside of 35.1%. One analyst has a hold rating on the stock.
