Co Diagnostics Stock Today

CODX
 Stock
  

USD 6.52  0.49  6.99%   

Market Performance
19 of 100
Odds Of Distress
Less than 34
Co Diagnostics is trading at 6.52 as of the 9th of August 2022; that is -6.99 percent decrease since the beginning of the trading day. The stock's open price was 7.01. Co Diagnostics has about a 34 percent probability of financial distress in the next few years of operation but had a somewhat solid performance during 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 10th of July 2022 and ending today, the 9th of August 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
ISIN
US1897631057
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 29.16 M outstanding shares of which 1.72 M shares are currently shorted by private and institutional investors with about 4.05 trading days to cover. More on Co-Diagnostics

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Follow Valuation Options Odds of Bankruptcy
Check how we calculate scores

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. If you consider yourself one of those investors, make sure you clearly understand your entering position. 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 appears to be risky and price may revert if volatility continues
Co-Diagnostics has a poor financial position based on the latest SEC disclosures
Latest headline from www.fool.com: Should You Really Care About This Companys Short-Term Success - The Motley Fool
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.
Piotroski F Score
Piotroski F-Score is a popular financial indicator that puts together nine criteria to evaluate the financial strength of Co-Diagnostics based on its profitability, leverage, liquidity, source of funds, and operating efficiency. It is an academic score (developed by Joseph Piotroski in 2002) to determine the current strength of Co-Diagnostics financial position. Scores of 8 and 9 are usually classified as strong value stocks, whereas scores of 2 or below are considered weak value stocks.
Current ValueLast YearChange From Last Year 10 Year Trend
Weighted Average Shares24.7 M28.9 M
Fairly Down
Increasing
Slightly volatile
Weighted Average Shares Diluted25.4 M29.9 M
Fairly Down
Increasing
Slightly volatile
Net Cash Flow from Operations44.3 M41.1 M
Significantly Up
Increasing
Slightly volatile
Total Assets172.7 M160 M
Significantly Up
Increasing
Slightly volatile
Total Liabilities27.6 M25.6 M
Significantly Up
Increasing
Slightly volatile
Current Assets124.2 M115.1 M
Significantly Up
Increasing
Slightly volatile
Current Liabilities13.6 M12.6 M
Significantly Up
Increasing
Slightly volatile
Total Debt2.4 M2.2 M
Significantly Up
Increasing
Slightly volatile
Return on Average Assets0.360.334
Significantly Up
Increasing
Slightly volatile
Gross Margin0.810.882
Significantly Down
Decreasing
Slightly volatile
Asset Turnover0.760.891
Fairly Down
Increasing
Slightly volatile
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 BuyUndervalued
Financial Strength
Co Diagnostics' financial strength is of vital concern to both outside investors and internal stakeholders. Efficiency and cost control are keys to Co Diagnostics' success, along with its ability to generate sufficient cash flow to pay bills, repay debt, and make a consistent year-to-year profit.
Financial leverage usually refers to the use of borrowed funds to amplify returns from an investment. In general, analyzing the relationship between debt to total assets helps investors to understand Co Diagnostics' financial leverage. It provides some insight into what part of Co Diagnostics' total assets is financed by creditors.
Share Download
Share Download
By using current balance sheet information, investors can analyze the liability, assets, and equity on Co Diagnostics' books and decide whether to invest or hold. Statistics such as return on equity (ROE), debt to equity (D/E) help investors determine how Co Diagnostics deploys its capital and how much of that capital is borrowed.
Liquidity
Co Diagnostics cash flow analysis is essential to understand how it generates and spends money over a specific period. It can also help you figure out where your money is going and how much cash you have available at a given moment. The company currently holds 558.97 K in liabilities with Debt to Equity (D/E) ratio of 0.0, which may suggest the company is not taking enough advantage from borrowing. Co-Diagnostics has a current ratio of 9.44, suggesting that it is liquid enough and is able to pay its financial obligations when due. Debt can assist Co Diagnostics until it has trouble settling it off, either with new capital or with free cash flow. So, Co Diagnostics' shareholders could walk away with nothing if the company can't fulfill its legal obligations to repay debt. However, a more frequent occurrence is when companies like Co-Diagnostics sell additional shares at bargain prices, diluting existing shareholders. Debt, in this case, can be an excellent and much better tool for Co Diagnostics to invest in growth at high rates of return. When we think about Co Diagnostics' use of debt, we should always consider it together with cash and equity.

Operating Cash Flow

44.32 Million
Co-Diagnostics (CODX) is traded on NASDAQ Exchange in USA. It is located in 2401 South Foothill Drive and employs 101 people. Co Diagnostics is listed under Medical Equipment category by Fama And French industry classification. The company currently falls under 'Small-Cap' category with current market capitalization of 198.29 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 these looking for more risk prefer small-cap and mid-cap equities. Co-Diagnostics conducts business under Healthcare sector and is part of Medical Devices industry. The entity has 29.16 M outstanding shares of which 1.72 M shares are currently shorted by private and institutional investors with about 4.05 trading days to cover. Co-Diagnostics currently holds about 97.42 M in cash with 36.62 M of positive cash flow from operations. This results in cash-per-share (CPS) ratio of 2.87.
Check Co Diagnostics Probability Of Bankruptcy
Ownership
Co-Diagnostics secures a total of twenty-nine million one hundred sixty thousand outstanding shares. Roughly 79.0 % of Co Diagnostics outstanding shares are held by regular investors with 0.43 percent owned by insiders and only 20.86 (percent) by institutions. Please note that no matter how much assets the company retains, if the real value of the firm is less than the current market value, you may not be able to make money on it.

Ownership Allocation (%)

Check Co Diagnostics Ownership Details

Co Diagnostics Stock Price Odds Analysis

What are Co Diagnostics' target price odds to finish over the current price? Based on a normal probability distribution, the odds of Co Diagnostics jumping above the current price in 90 days from now is about 7.22%. 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 1.679 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 an alpha of 0.8051, implying that it can generate a 0.81 percent excess return over DOW after adjusting for the inherited market risk (beta).
  Odds Below 6.52HorizonTargetOdds Above 6.52
92.73%90 days
 6.52 
7.22%
Based on a normal probability distribution, the odds of Co Diagnostics to move above the current price in 90 days from now is about 7.22 (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 Historical Income Statement

Co-Diagnostics Income Statement is one of the three primary financial statements used for reporting Co Diagnostics's overall financial performance over a current year or for a given accounting period. An Income Statement sometimes referred to as the statement of Co-Diagnostics revenue and expense. Co Diagnostics Income Statement primarily focuses on the company's revenues and expenses during a particular period.
Co Diagnostics Selling General and Administrative Expense is fairly stable at the moment as compared to the past year. Co Diagnostics reported Selling General and Administrative Expense of 24.95 Million in 2021 View More Fundamentals

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 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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Piotroski F Score

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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
Brent Satterfield - Chief Science Officer, DirectorProfile

Invested in Co-Diagnostics?

You need to understand the risk of investing before taking a position 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 Shere Portfolio module to track or share privately all of your investments from the convenience of any device.

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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
229.7 M
Quarterly Revenue Growth YOY
0.13
Return On Assets
0.23
Return On Equity
0.36
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.