Co-Diagnostics Inc. (CODX) shares are trading at higher $14.31 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 1155.26% while the S&P 500 is up 11.54%. 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 1.83 and outstanding shares of 27.58M.
CODX has seen increased volume after this news and investors are putting their support behind the value proposition. Traders will also note the company’s earnings per share came in at 0.18. 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 340.58M 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.