Co-Diagnostics (NASDAQ:CODX) Releases Earnings Results, Misses Expectations By $0.02 EPS

Co-Diagnostics (NASDAQ:CODX) posted its earnings results on Thursday. The company reported ($0.36) EPS for the quarter, missing the consensus estimate of ($0.34) by ($0.02), Zacks reports. Co-Diagnostics had a negative return on equity of 54.94% and a negative net margin of 563.93%. The company had revenue of $0.15 million for the quarter, compared to analyst estimates of $0.38 million.

Co-Diagnostics Stock Performance

Shares of Co-Diagnostics stock opened at $0.32 on Friday. The firm has a 50-day simple moving average of $0.61 and a two-hundred day simple moving average of $0.89. Co-Diagnostics has a fifty-two week low of $0.28 and a fifty-two week high of $2.23. The company has a market cap of $10.22 million, a P/E ratio of -0.23 and a beta of 1.29.

Analyst Upgrades and Downgrades

Separately, HC Wainwright dropped their price objective on shares of Co-Diagnostics from $1.50 to $1.00 and set a “neutral” rating on the stock in a research note on Friday.

Co-Diagnostics Company Profile

Co-Diagnostics, Inc, a molecular diagnostics company, develops, manufactures, and sells reagents used for diagnostic tests that function through the detection and/or analysis of nucleic acid molecules in the United States and internationally. The company offers Co-Dx PCR platform, a polymerase chain reaction (PCR) testing to patients in point-of-care and at-home setting.