Co-Diagnostics Inc (NASDAQ:CODX) price closed lower on Friday, May 16, and dropping -1.70% below its previous close.
A look at the daily price movement shows that the last close reads $0.31. Taking into account the 52-week price action we note that the stock hit a 52-week high of $2.23 and 52-week low of $0.27. The stock subtracted -10.98% on its value in the past month.
Co-Diagnostics Inc, which has a market valuation of $10.11 million, is expected to release its quarterly earnings report in June.
On average, analysts have forecast the company’s revenue for the quarter will hit 300k, with the likely lows of 300k and highs of 300k. The average estimate suggests sales growth for the quarter will likely fall by -88.71% when compared to those recorded in the same quarter in the last financial year. Staying with the analyst view, there is a consensus estimate of 950k for the company’s annual revenue in current year. Per this projection, the revenue is forecast to grow -75.74% below that which the company brought in the current year earning report.
Technical indicators in stocks provide crucial insights into market trends, guiding investors with precise entry and exit points based on price movements for informed decision-making.On the technical perspective front, indicators give CODX a short term outlook of 100% Sell on average. Looking at the stock’s medium term indicators we note that it is averaging as a 100% Sell, while an average of long term indicators are currently assigning the stock as 100% Sell.
The overview shows that CODX’s price is at present -14.38% off the SMA20 and -21.55% from the SMA50. The Relative Strength Index (RSI) metric on the 14-day timeframe is pointing at 35.03, with weekly volatility standing at 31.98%. The indicator jumps to 14.34% when calculated based on the past 30 days. Co-Diagnostics Inc (NASDAQ:CODX)’s beta value is holding at 0.64, while the average true range (ATR) indicator is currently reading 0.06. Considering analysts have assigned the stock a price target range of $6-$6 as the low and high respectively, we find the trailing 12-month average consensus price target to be $6. Based on this estimate, we see that current price is roughly -1900.0% off the estimated low and -1900.0% off the forecast high. Investors will no doubt be excited to see the share price fall to $6, which is the median consensus price, and at that level CODX would be -1900.0% from current price.
An analysis of the Co-Diagnostics Inc (NASDAQ:CODX) stock in terms of its daily trading volume indicates that the 3-month average is 266.71K.
Current records show that the company has 33.57M in outstanding shares. The insiders’ percentage holdings are 7.73% of outstanding shares while the percentage share held by institutions stands at 17.35%. But the -60.00% downside, the stock’s price has registered year-to-date as of last trading, will likely reignite investor interest given the prospect of it rallying even higher.
