Co Diagnostics Stock Today

CODX
 Stock
  

USD 2.89  0.01  0.34%   

Market Performance
0 of 100
Odds Of Distress
Less than 25
Co Diagnostics is trading at 2.89 as of the 8th of December 2022; that is -0.34% down since the beginning of the trading day. The stock's open price was 2.9. Co Diagnostics has about a 25 % chance of experiencing some form of financial distress in the next two years of operation but has generated negative returns over the last 90 days. Equity ratings for Co-Diagnostics are calculated daily based on our scoring framework. The performance scores are derived for the period starting the 18th of December 2020 and ending today, the 8th of December 2022. Click here to learn more.
CUSIP
189763105
Fiscal Year End
December
Business Domain
Health Care Equipment & Services
IPO Date
12th of July 2017
Category
Healthcare
Classification
Health Care
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. The company has 30.92 M outstanding shares of which 2.43 M shares are currently shorted by private and institutional investors with about 15.8 trading days to cover. More on Co-Diagnostics
Follow Valuation Odds of Bankruptcy
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Co Diagnostics Stock Highlights

Most reasonable investors view market volatility as an opportunity to invest at a favorable price or to sell short against a bearish trend. Co Diagnostics' investment highlights are automatically generated signals that are significant enough to either complement your investing judgment regarding Co Diagnostics or challenge it. These highlights can help you better understand the position you are entering and avoid costly mistakes.
Co-Diagnostics generated a negative expected return over the last 90 days
Co-Diagnostics has high historical volatility and very poor performance
Latest headline from news.google.com: AXIM Biotechnologies Commercial Partner Versa Ophthalmics Highlights Benefits of AXIMs Eye Diagnostic Solutions - Marketscreener.com
ChairmanDwight Egan
Fama & French Classification
Average Analyst Recommendation
Analysts covering Co Diagnostics report their recommendations after researching Co Diagnostics' financial statements, talking to executives and customers, or listening in on Co Diagnostics' conference calls. The current trade recommendation is based on an ongoing consensus estimate among financial analysts covering Co-Diagnostics. The Co Diagnostics consensus assessment is calculated by taking the average forecast from all of the analysts covering Co Diagnostics.
Macroaxis Advice
Unlike general analyst consensus, Macroaxis buy hold or sell recommendation is provided in the context of your current investment horizon and risk tolerance. The advice algorithm takes into account all of Co Diagnostics' available fundamental, technical, and predictive indicators. Your current horizon is 90 days - details
Strong HoldUndervalued
Co-Diagnostics (CODX) is traded on NASDAQ Exchange in USA and employs 101 people. Co Diagnostics is listed under Health Care Equipment & Supplies category by Fama And French industry classification. The company currently falls under 'Micro-Cap' category with a current market capitalization of 89.35 M. Market capitalization usually refers to the total value of a company's stock within the entire market. To calculate Co Diagnostics's market, we take the total number of its shares issued and multiply it by Co Diagnostics's current market price. To manage market risk and economic uncertainty, many investors today build portfolios that are diversified across equities with different market capitalizations. However, as a general rule, conservative investors tend to hold large-cap stocks, and those looking for more risk prefer small-cap and mid-cap equities. Co-Diagnostics conducts business under Health Care Equipment & Supplies sector and is part of Health Care industry. The entity has 30.92 M outstanding shares of which 2.43 M shares are currently shorted by private and institutional investors with about 15.8 trading days to cover. Co-Diagnostics currently holds about 86.49 M in cash with 41.08 M of positive cash flow from operations. This results in cash-per-share (CPS) ratio of 2.8.
Check Co Diagnostics Probability Of Bankruptcy
Ownership
Co-Diagnostics shows a total of 30.92 Million outstanding shares. Roughly 78.0 % of Co Diagnostics outstanding shares are held by regular investors with 0.87 percent owned by insiders and only 21.02 (percent) by institutions. Note that regardless of who owns the company, if the true value of the entity is less than the market is willing to pay for it, you may not be able to generate positive returns over time.

Ownership Allocation (%)

Check Co Diagnostics Ownership Details

Co Diagnostics Stock Price Odds Analysis

Based on a normal probability distribution, the odds of Co Diagnostics jumping above the current price in 90 days from now is roughly 96.0%. The Co-Diagnostics probability density function shows the probability of Co Diagnostics stock to fall within a particular range of prices over 90 days. Given the investment horizon of 90 days the stock has a beta coefficient of 1.1639 suggesting as the benchmark fluctuates upward, the company is expected to outperform it on average. However, if the benchmark returns are projected to be negative, Co Diagnostics will likely underperform. Additionally, the company has a negative alpha, implying that the risk taken by holding this instrument is not justified. Co-Diagnostics is significantly underperforming NYSE Composite.
  Odds Below 2.89HorizonTargetOdds Above 2.89
3.86%90 days
 2.89 
96.10%
Based on a normal probability distribution, the odds of Co Diagnostics to move above the current price in 90 days from now is roughly 96.0 (This Co-Diagnostics probability density function shows the probability of Co Diagnostics Stock to fall within a particular range of prices over 90 days) .

Co-Diagnostics Risk Profiles

Investors will always prefer to have the highest possible return on investment while minimizing volatility. Co Diagnostics market risk premium is the additional return an investor will receive from holding Co Diagnostics long position in a well-diversified portfolio. The market premium is part of the Capital Asset Pricing Model (CAPM), which most analysts and investors use to calculate the acceptable rate of return on investment in Co Diagnostics. At the center of the CAPM is the concept of risk and reward, which is usually communicated by investors using alpha and beta measures. Although Co Diagnostics' alpha and beta are two of the key measurements used to evaluate Co Diagnostics' performance over the market, the standard measures of volatility play an important role as well.

Co Diagnostics Stock Against Markets

Picking the right benchmark for Co Diagnostics stock is fundamental to making educated investment choices. Many naive investors compare their positions with the S&P 500 or with the Nasdaq. But these benchmarks are not all-inclusive and generally should be used only for large-capitalization equities or stock offerings from large companies. When the price of a selected benchmark declines in a down market, there may be an uptick in Co Diagnostics stock price where buyers come in believing the asset is cheap. The opposite is true when the market is bullish; so, accurately picking the benchmark for Co Diagnostics is critical whether you are bullish or bearish towards Co-Diagnostics at a given time.

Be your own money manager

Our tools can tell you how much better you can do entering a position in Co Diagnostics without increasing your portfolio risk or giving up the expected return. As an individual investor, you need to find a reliable way to track all your investment portfolios. However, your requirements will often be based on how much of the process you decide to do yourself. In addition to allowing all investors analytical transparency into all their portfolios, our tools can evaluate risk-adjusted returns of your individual positions relative to your overall portfolio.

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Co Diagnostics Corporate Directors

Co Diagnostics corporate directors refer to members of a Co Diagnostics board of directors. The board of directors generally takes responsibility for the Co Diagnostics' affairs and long-term direction of the entity. A corporate director does not make decisions for the corporation on his own. As a member of the board of directors, she or he must function as a part of a group that makes decisions on behalf of the business only by the board of directors' meetings. To pass a resolution, a majority of Co Diagnostics' board members must vote for the resolution. The Co Diagnostics board of directors' duties also include the election, removal, and supervision of officers, including the adoption, amendment, and repeal of bylaws.
Edward Borkowski - Independent DirectorProfile
Richard Serbin - Independent DirectorProfile
Edward Murphy - Independent DirectorProfile
Frank Kiesner - Independent DirectorProfile

Invested in Co-Diagnostics?

The danger of trading Co-Diagnostics is mainly related to its market volatility and company specific events. As an investor, you must understand the concept of risk-adjusted return before you start trading. The most common way to measure the risk of Co Diagnostics is by using the Sharpe ratio. The ratio expresses how much excess return you acquire for the extra volatility you endure for holding a more risker asset than Co Diagnostics. The Shape ratio is calculated by using standard deviation and excess return to determine reward per unit of risk. To understand how volatile Co-Diagnostics is, you must compare it to a benchmark. Traditionally, the risk-free rate of return is the rate of return on the shortest-dated U.S. Treasury, such as a 3-year bond.
Continue to Trending Equities. 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 Headlines Timeline module to stay connected to all market stories and filter out noise. Drill down to analyze hype elasticity.

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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
0.308
Market Capitalization
89.4 M
Quarterly Revenue Growth YOY
(0.83) 
Return On Assets
0.0467
Return On Equity
0.129
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.