Co Diagnostics Fundamentals

CODX
 Stock
  

USD 3.06  0.04  1.29%   

Co-Diagnostics fundamentals help investors to digest information that contributes to Co Diagnostics' financial success or failures. It also enables traders to predict the movement of Co Diagnostics Stock. The fundamental analysis module provides a way to measure Co Diagnostics' intrinsic value by examining its available economic and financial indicators, including the cash flow records, the balance sheet account changes, the income statement patterns, and various microeconomic indicators and financial ratios related to Co Diagnostics stock.
This module does not cover all equities due to inconsistencies in global equity categorizations. Continue to Equity Screeners to view more equity screening tools.
  

Co Diagnostics Cash per Share Analysis

Co Diagnostics' Cash per Share is a ratio of current cash on hands or in the banks of the company to a total number of shares outstanding. It is used to determine a firm's liquidity and is a good indicator of the overall financial health of a company. Value investors often compare this ratio to the current stock quote, and if it exceeds the stock price they would invest in it.
Cash per Share 
 = 
Total Cash 
Average Shares 
More About Cash per Share | All Equity Analysis

Current Co Diagnostics Cash per Share

    
  2.80 X  
Most of Co Diagnostics' fundamental indicators, such as Cash per Share, are part of a valuation analysis module that helps investors searching for stocks that are currently trading at higher or lower prices than their real value. If the real value is higher than the market price, Co-Diagnostics is considered to be undervalued, and we provide a buy recommendation. Otherwise, we render a sell signal.
Companies with high Cash per Share ratio will be considered as an attractive investment by most investors. In most industries if you can single out an equity instrument trading below its cash per share value, you have a bargain and should consider buying it. Finding the stocks traded below their cash value, therefore, can be a good starting point for investors using strategies based on fundamentals.
Compare to competition

In accordance with the recently published financial statements, Co-Diagnostics has a Cash per Share of 2.8 times. This is 35.63% lower than that of the Health Care Equipment & Supplies sector and 7.28% higher than that of the Health Care industry. The cash per share for all United States stocks is 44.11% higher than that of the company.

Co-Diagnostics Fundamental Drivers Relationships

Comparative valuation techniques use various fundamental indicators to help in determining Co Diagnostics's current stock value. Our valuation model uses many indicators to compare Co Diagnostics value to that of its competitors to determine the firm's financial worth. You can analyze the relationship between different fundamental ratios across Co Diagnostics competition to find correlations between indicators driving Co Diagnostics's intrinsic value. More Info.
Co-Diagnostics is rated fifth in shares owned by insiders category among related companies. It is rated below average in target price category among related companies fabricating about  13.41  of Target Price per Shares Owned by Insiders. . Comparative valuation analysis is a catch-all model that can be used if you cannot value Co Diagnostics by discounting back its dividends or cash flows. This model doesn't attempt to find an intrinsic value for Co Diagnostics' Stock . Still, instead, it compares the stock's price multiples to a benchmark or nearest competition to determine if the stock is relatively undervalued or overvalued. The reason why the comparable model can be used in almost all circumstances is due to the vast number of multiples that can be utilized, such as the price-to-earnings (P/E), price-to-book (P/B), price-to-sales (P/S), price-to-cash flow (P/CF), and many others. The P/E ratio is the most commonly used of these ratios because it focuses on the Co Diagnostics' earnings, one of the primary drivers of an investment's value.

Co Diagnostics Profit Margin Peer Comparison

Stock peer comparison is one of the most widely used and accepted methods of equity analyses. It analyses Co Diagnostics' direct or indirect competition against its Profit Margin to detect undervalued stocks with similar characteristics or determine the stocks which would be a good addition to a portfolio. Peer analysis of Co Diagnostics could also be used in its relative valuation, which is a method of valuing Co Diagnostics by comparing valuation metrics of similar companies.
Co Diagnostics is currently under evaluation in profit margin category among related companies.

Co Diagnostics Fundamentals

About Co Diagnostics Fundamental Analysis

The Macroaxis Fundamental Analysis modules help investors analyze Co-Diagnostics's financials across various querterly and yearly statements, indicators and fundamental ratios. We help investors to determine the real value of Co Diagnostics using virtually all public information available. We use both quantitative as well as qualitative analysis to arrive at the intrinsic value of Co-Diagnostics based on its fundamental data. In general, a quantitative approach, as applied to this company, focuses on analyzing financial statements comparatively, whereas a qaualitative method uses data that is important to a company's growth but cannot be measured and presented in a numerical way.
Please read more on our fundamental analysis page.
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. Co Diagnostics operates under Medical Devices classification in the United States and is traded on NASDAQ Exchange. It employs 101 people.

Co Diagnostics Implied Volatility

    
  53.01  
Co Diagnostics' implied volatility exposes the market's sentiment of Co-Diagnostics stock's possible movements over time. However, it does not forecast the overall direction of its price. In a nutshell, if Co Diagnostics' implied volatility is high, the market thinks the stock has potential for high price swings in either direction. On the other hand, the low implied volatility suggests that Co Diagnostics stock will not fluctuate a lot when Co Diagnostics' options are near their expiration.
Some investors attempt to determine whether the market's mood is bullish or bearish by monitoring changes in market sentiment. Unlike more traditional methods such as technical analysis, investor sentiment usually refers to the aggregate attitude towards Co Diagnostics in the overall investment community. So, suppose investors can accurately measure the market's sentiment. In that case, they can use it for their benefit. For example, some tools to gauge market sentiment could be utilized using contrarian indexes, Co Diagnostics' short interest history, or implied volatility extrapolated from Co Diagnostics options trading.

Pair Trading with Co Diagnostics

One of the main advantages of trading using pair correlations is that every trade hedges away some risk. Because there are two separate transactions required, even if Co Diagnostics position performs unexpectedly, the other equity can make up some of the losses. Pair trading also minimizes risk from directional movements in the market. For example, if an entire industry or sector drops because of unexpected headlines, the short position in Co Diagnostics will appreciate offsetting losses from the drop in the long position's value.
The ability to find closely correlated positions to Co Diagnostics could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Co Diagnostics when you sell it. If you don't do this, your portfolio allocation will be skewed against your target asset allocation. So, investors can't just sell and buy back Co Diagnostics - that would be a violation of the tax code under the "wash sale" rule, and this is why you need to find a similar enough asset and use the proceeds from selling Co-Diagnostics to buy it.
The correlation of Co Diagnostics is a statistical measure of how it moves in relation to other equities. This measure is expressed in what is known as the correlation coefficient, which ranges between -1 and +1. A perfect positive correlation (i.e., a correlation coefficient of +1) implies that as Co Diagnostics moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Co-Diagnostics moves in either direction, the perfectly negatively correlated security will move in the opposite direction. If the correlation is 0, the equities are not correlated; they are entirely random. A correlation greater than 0.8 is generally described as strong, whereas a correlation less than 0.5 is generally considered weak.
Correlation analysis and pair trading evaluation for Co Diagnostics can also be used as hedging techniques within a particular sector or industry or even over random equities to generate a better risk-adjusted return on your portfolios.
Pair CorrelationCorrelation Matching
Continue to Co Diagnostics Piotroski F Score and Co Diagnostics Altman Z Score analysis. 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 Portfolio Suggestion module to get suggestions outside of your existing asset allocation including your own model portfolios.

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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 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 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.
Quarterly Earnings Growth YOY
0.31
Market Capitalization
95.8 M
Quarterly Revenue Growth YOY
(0.83) 
Return On Assets
0.0467
Return On Equity
0.13
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.