Co-Diagnostics Inc. (NASDAQ:CODX) shares traded lower over the last trading session, losing -2.73% on 05/19/21. The shares fell to a low of $8.4201 before closing at $8.56. Intraday shares traded counted 0.64 million, which was 41.42% higher than its 30-day average trading volume of 1.10M. CODX’s previous close was $8.80 while the outstanding shares total 28.66M. The firm has a beta of -1.88, a 12-month trailing P/E ratio of 4.89. The stock’s Relative Strength Index (RSI) is 47.97, with weekly volatility at 7.95% and ATR at 0.58. The CODX stock’s 52-week price range has touched low of $7.01 and a $30.99 high.
Investors have identified the Diagnostics & Research company Co-Diagnostics Inc. as an interesting stock but before investments are made there, an in-depth look at its trading activities will have to be conducted. The share is trading with a market value of around $207.67 million, the company now has both obstacles and catalysts that affect them and they came from their mode of operations. With the company affected by events currently, it is a perfect time to analyze the numbers behind the firm in order to come up with a rather realistic picture of what this stock is.
Co-Diagnostics Inc. (CODX) Fundamentals that are to be considered.
When analyzing a stock, the first fundamental thing to take into account is the balance sheet. How healthy the balance sheet of a company is will determine if the company will be able to carry out all its financial and non-financial obligations and also keep the faith of its investors. In terms of their assets, the company currently has 79.14 million total, with 4.31 million as their total liabilities.
CODX were able to record 12.13 million as free cash flow during the 08/19/2021 quarter of the year, this saw their quarterly net cash flow reduce by 14.81 million. In cash movements, the company had a total of 12.27 million as operating cash flow.
Potential earnings growth for Co-Diagnostics Inc. (CODX)
In order to determine the future investment potential for this stock, we will have to analyze key trends that affect it. During the 08/19/2021 quarter of the year, Co-Diagnostics Inc. recorded a total of 20.02 million in revenue. This figure implies that they witnessed a quarterly year/year change in their earnings with 92.26% coming in sequential stages and their sales for the 08/19/2021 quarter reducing by -35.56%.
What matters though is how it ends. When the core data for the company is broken down, then the stock sounds interesting. The company spent 3.27 million trying to sell their products during the last quarter, with the result yielding a gross income of 16.75 million. This allows shareholders to hold on to 28.66M with the recently reported earning now reading 0.28 cents per share. This is a figure that compared to analyst’s prediction for their 08/19/2021 (0.26 cents a share).
Having a look at the company’s valuation, the company is expected to record 0.70 total earnings per share during the next fiscal year. It is very important though to remember that the importance of trend far outweighs that of outlook. This analysis has been great and getting further updates on CODX sounds very interesting.
Is the stock of CODX attractive?
In related news, Chief Executive Officer, Egan Dwight H sold 38,046 shares of the company’s stock in a transaction that recorded on Jan 15. The sale was performed at an average price of 11.00, for a total value of 418,506. As the sale deal closes, the Director, SERBIN RICHARD S now sold 10,000 shares of the company’s stock, valued at 102,900. Also, Director, Durenard Eugene sold 10,500 shares of the company’s stock in a deal that was recorded on Jan 13. The shares were price at an average price of 10.09 per share, with a total market value of 105,945. Following this completion of acquisition, the Director, NELSON JAMES B now holds 12,500 shares of the company’s stock, valued at 126,631. In the last 6 months, insiders have changed their ownership in shares of company stock by 6.36%.