Co Diagnostics Stock Buy Hold or Sell Recommendation

CODX
 Stock
  

USD 2.78  0.11  3.81%   

Given the investment horizon of 90 days and your above-average risk tolerance, our recommendation regarding Co-Diagnostics is 'Hold'. Macroaxis provides Co Diagnostics buy-hold-or-sell recommendation only in the context of selected investment horizon and investor attitude towards risk assumed by holding CODX positions. The advice algorithm takes into account all of Co Diagnostics' available fundamental, technical, and predictive indicators you will find on this site.
  
The advice is provided from Co Diagnostics' buy-and-hold perspective. Continue to Co Diagnostics Analyst Recommendation to compare Macroaxis Buy or Sell Recommendation with the current analyst consensus. To check ratings for multiple equity instruments, please use the Instant Ratings tool. We conduct extensive research on individual companies such as Co Diagnostics and provide practical buy, sell, or hold advice based on selected investing horizon and risk tolerance towards Co-Diagnostics.

Execute Co Diagnostics Buy or Sell Advice

The Co Diagnostics recommendation should be used to complement the buy-or-sell advice compiled from the current analysts' consensus on Co-Diagnostics. Macroaxis does not own or have any residual interests in Co-Diagnostics or other equities on which the buy-or-sell advice is provided. Please provide your input below to execute Co Diagnostics' advice using the current market data and latest reported fundamentals.

Time Horizon

Risk Tolerance

Execute Advice
Sell Co DiagnosticsBuy Co Diagnostics
Hold

Volatility

Details

Hype Condition

Details

Current Valuation

Details

Odds of Distress

Details

Economic Sensitivity

Details

Analyst Consensus

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Reporting Quality (M-Score)

Details
For the selected time horizon Co-Diagnostics has a Risk Adjusted Performance of (0.013941), Jensen Alpha of (0.13), Total Risk Alpha of (0.21) and Treynor Ratio of (0.045236)
We provide trade recommendation to complement the latest expert consensus on Co-Diagnostics. Our dynamic recommendation engine uses a multidimensional algorithm to analyze the company's potential to grow using all technical and fundamental data available today. To make sure Co-Diagnostics is not overpriced, please confirm all Co-Diagnostics fundamentals, including its cash and equivalents, number of employees, and the relationship between the price to sales and book value per share . Please also double-check Co Diagnostics number of shares shorted to validate your buy or sell decision is consistent with all fundamental data available and that the company can sustain itself for few more years.

Co Diagnostics Trading Alerts and Improvement Suggestions

Co-Diagnostics generated a negative expected return over the last 90 days
Co-Diagnostics has high historical volatility and very poor performance
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Co Diagnostics Returns Distribution Density

The distribution of Co Diagnostics' historical returns is an attempt to chart the uncertainty of Co Diagnostics' future price movements. The chart of the probability distribution of Co Diagnostics stock daily returns describes the distribution of returns around its average expected value. We use Co-Diagnostics price's Value At Risk and its Upside Potential as a relative measure of the distribution. The graph of the distribution of Co Diagnostics returns is essential to provide solid investment advice for Co Diagnostics.
Mean Return-0.04Value At Risk-5.35
Potential Upside5.23Standard Deviation3.29
   Return Density   
       Distribution  
Investment risk management requires an estimate of the probability of extreme price changes. Therefore, the correct representation of the distribution of Co Diagnostics historical returns presented in an easy-to-digest graphical form helps investors and money managers understand the risk-reward trade-off of different investement strategies.

Co Diagnostics Greeks

Most traded equities are subject to two types of risk - systematic (i.e., market) and unsystematic (i.e., nonmarket or company-specific) risk. Unsystematic risk is the risk that events specific to Co Diagnostics or Health Care Equipment & Supplies sector will adversely affect the stock's price. This type of risk can be diversified away by owning several different stocks in different industries whose stock prices have shown a small correlation to each other. On the other hand, systematic risk is the risk that Co Diagnostics' price will be affected by overall stock market movements and cannot be diversified away. So, no matter how many positions you have, you cannot eliminate market risk. However, you can measure a Co Diagnostics stock's historical response to market movements and buy it if you are comfortable with its volatility direction. Beta and standard deviation are two commonly used measures to help you make the right decision.
α
Alpha over NYSE Composite
-0.13
β
Beta against NYSE Composite1.16
σ
Overall volatility
3.32
Ir
Information ratio -0.04

Co Diagnostics Volatility Alert

Co-Diagnostics exhibits very low volatility with skewness of -0.3 and kurtosis of -0.04. However, we advise investors to further study Co-Diagnostics technical indicators to ensure that all market info is available and is reliable. Understanding different market volatility trends often help investors to time the market. Properly using volatility indicators enable traders to measure Co Diagnostics' stock risk against market volatility during both bullish and bearish trends. The higher level of volatility that comes with bear markets can directly impact Co Diagnostics' stock price while adding stress to investors as they watch their shares' value plummet. This usually forces investors to rebalance their portfolios by buying different stocks as prices fall.

Co Diagnostics Fundamentals Vs Peers

Comparing Co Diagnostics' fundamentals to the average values of its peers is one of the most widely used and accepted methods of equity analyses. It helps to analyze Co Diagnostics' direct or indirect competition across all of the common fundamentals between Co Diagnostics and the related equities. This way, we can detect undervalued stocks with similar characteristics as Co Diagnostics or determine the stocks which would be an excellent addition to an existing portfolio. Peer analysis of Co Diagnostics' fundamental indicators could also be used in its relative valuation, which is a method of valuing Co Diagnostics by comparing valuation metrics with those of similar companies.
    
 Better Than Average     
    
 Worse Than Average Compare Co Diagnostics to competition
FundamentalsCo DiagnosticsPeer Average
Return On Equity0.13 %(0.31) %
Return On Asset0.0467 %(0.14) %
Profit Margin0.28 %(1.27) %
Operating Margin0.18 %(5.51) %
Current Valuation9.77 M16.62 B
Shares Outstanding30.92 M571.82 M
Shares Owned by Insiders0.87 %10.09 %
Shares Owned by Institutions21.02 %39.21 %
Number of Shares Shorted2.43 M4.71 M
Price to Earning6.78 X28.72 X
Price to Book0.71 X9.51 X
Price to Sales1.68 X11.42 X
Revenue97.89 M9.43 B
Gross Profit86.31 M27.38 B
EBITDA46.02 M3.9 B
Net Income36.66 M570.98 M
Cash and Equivalents86.49 M2.7 B
Cash per Share2.80 X5.01 X
Total Debt418.82 K5.32 B
Debt to Equity0.003 %48.70 %
Current Ratio16.95 X2.16 X
Book Value Per Share4.37 X1.93 K
Cash Flow from Operations41.08 M971.22 M
Short Ratio15.80 X4.00 X
Earnings Per Share0.48 X3.12 X
Target Price11.67
Number of Employees10118.84 K
Beta-0.64-0.15
Market Capitalization89.35 M19.03 B
Total Asset160.03 M29.47 B
Retained Earnings(25.62 M)9.33 B
Working Capital(1.98 M)1.48 B
Current Asset858.78 K9.34 B
   Acquisition by Eugene Durenard of 11667 shares of Co Diagnostics subject to Rule 16b-3 [view details]

Co Diagnostics Market Momentum

Traders often use several daily momentume indicators to supplement a more traditional technical analysis when analyzing securities such as Co Diagnostics . With many different options, investors must choose the best indicators for them and familiarize themselves with how they work. We suggest combining traditional momentum indicators with more near-term forms of technical analysis such as Accumulation Distribution or Daily Balance Of Power. With their quantitative nature, daily value technical indicators can also be incorporated into your automated trading systems.

About Co Diagnostics Buy or Sell Advice

When is the right time to buy or sell Co-Diagnostics? Buying financial instruments such as Co Diagnostics Stock isn't very hard. However, what challenging for most investors is doing it at the right time to beat the market. Proper market timing is something most people cannot do without sophisticated tools, which help to isolate the right opportunities. Macroaxis provides hands-on modules to deliver winning trades and diversify your portfolios on a daily basis. Most of our advising modules are very easy to use and apply.
Please read more on our stock advisor page.

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In addition to having Co Diagnostics in your portfolios, you can quickly add positions using our predefined set of ideas and optimize them against your very unique investing style. A single investing idea is a collection of funds, stocks, ETFs, or cryptocurrencies that are programmatically selected from a pull of investment themes. After you determine your investment opportunity, you can then find an optimal portfolio that will maximize potential returns on the chosen idea or minimize its exposure to market volatility.

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Silver
Silver Theme
Companies involved in mining, production, and distribution of silver and silver goods. The Silver theme has 40 constituents at this time.
You can either use a buy-and-hold strategy to lock in the entire theme or actively trade it to take advantage of the short-term price volatility of individual constituents. Macroaxis can help you discover thousands of investment opportunities in different asset classes. In addition, you can partner with us for reliable portfolio optimization as you plan to utilize Silver Theme or any other thematic opportunities.
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Continue to Co Diagnostics Analyst Recommendation to compare Macroaxis Buy or Sell Recommendation with the current analyst consensus. To check ratings for multiple equity instruments, please use the Instant Ratings tool. 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 Volatility Analysis module to get historical volatility and risk analysis based on latest market data.

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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 Co Diagnostics 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.
The market value of Co-Diagnostics is measured differently than its book value, which is the value of Co Diagnostics 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 Co Diagnostics value 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.