Co-Diagnostics Inc. (CODX) shares are trading at lower $8.24 and the avg recommendation for the stock is Moderate Buy.
To add more color to this target, the company’s high over the last year is $30.99 and the low is $0.85. Over the last 52 weeks, CODX is up 655.96% while the S&P 500 is up 14.94%. The catalyst for this interesting swing was the company’s recent earnings report.
A Notable Earnings Report
In the last quarter, CODX reported a profit of $15.7 million. Co-Diagnostics Inc. also saw revenues increase to $24.04 million. In addition, CODX has free cash flow of -$0.55 million as of 06-2020. The company’s EBITDA came in at $12.36 million which compares well with its peers.
CODX booked profit margins of 31.40%, its Return on Equity (ROE) is 56.20%, and its Return on Assets is 51.40%. All told, it is clear that, CODX needs to be on your watchlist.
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Of course, we must look beyond the financials and question how well those numbers represent the sustainable earnings power of the business. Investors need to know how sustainable this current run. CODX has a short ratio of 1.94 and outstanding shares of 27.58M.
CODX has seen increased volume after this news and investors are putting their support behind the value proposition. Furthermore, 10-day volume stands at 2.41 million and more growth is possible in the weeks ahead. Traders will also note the company’s earnings per share came in at 0.18. Co-Diagnostics Inc. CODX also noted assets of $36.42 million at the end of the last quarter. Investors should also keep an eye on sector updates as CODX has historically followed its peers on positive news.
All told, Co-Diagnostics Inc. CODX has strung together solid data and demonstrated underlying fundamentals. At its current valuation, CODX represents an interesting risk/reward case. Traders should stay tuned to see if this recent report will push the stock to test recent resistance levels.
Co-Diagnostics Inc. CODX is now commanding a market cap of 261.21M and a float of 25.08M. CODX is increasing its credibility in this sector and that could lead to more upside down the line. Sign-up for continuing coverage on shares of CODX stock, as well as other hot stock picks, get our free newsletter today and get our next breakout pick!
Disclosure: we hold no position in CODX, either long or short, and we have not been compensated for this article.