Co Diagnostics Stock Beta

CODX Stock

USD 0.48 0 0.33%

Co Diagnostics fundamentals help investors to digest information that contributes to Co Diagnostics' financial success or failures. It also enables traders to predict the movement of CODX Stock. The fundamental analysis module provides a way to measure Co Diagnostics' intrinsic value by examining its available economic and financial indicators, including the cash flow records, the balance sheet account changes, the income statement patterns, and various microeconomic indicators and financial ratios related to Co Diagnostics stock.

Total Current Liabilities Total Assets

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Co Diagnostics Company Beta Analysis

Co Diagnostics' Beta is one of the most important measures of equity market volatility. Beta can be thought of as asset elasticity or sensitivity to market. In other words, it is a number that shows the relationship of an equity instrument to the financial market in which this instrument is traded. For example, if Beta of equity is 2, it is expected to significantly outperform market when the market is going up and significantly underperform when the market is going down. Similarly, Beta of 1 indicates that an asset and market will generate similar returns over time.

Beta

Covariance

Variance

More About Beta | All Equity Analysis

Current Co Diagnostics Beta

1.3

Most of Co Diagnostics' fundamental indicators, such as Beta, are part of a valuation analysis module that helps investors searching for stocks that are currently trading at higher or lower prices than their real value. If the real value is higher than the market price, Co Diagnostics is considered to be undervalued, and we provide a buy recommendation. Otherwise, we render a sell signal.

CODX Beta Driver Correlations

Understanding the fundamental principles of building solid financial models for Co Diagnostics is extremely important. It helps to project a fair market value of CODX Stock properly, considering its historical fundamentals such as Beta. Since Co Diagnostics' main accounts across its financial reports are all linked and dependent on each other, it is essential to analyze all possible correlations between related accounts. However, instead of reviewing all of Co Diagnostics' historical financial statements, investors can examine the correlated drivers to determine its overall health. This can be effectively done using a conventional correlation matrix of Co Diagnostics' interrelated accounts and indicators.

	Total Assets	Total Stockholder Equity	Net Tangible Assets	Retained Earnings	Accounts Payable	Capital Surpluse	Total Liab	Total Current Assets	Common Stock	Property Plant Equipment	Net Debt	Net Receivables	Long Term Debt Total	Short Long Term Debt	Short Term Debt	Current Deferred Revenue	Deferred Long Term Liab	Net Invested Capital	Long Term Investments	Net Working Capital	Capital Stock
Total Assets		1.0	0.97	0.81	0.81	0.94	0.87	0.95	-0.29	0.92	-0.76	0.64	-0.66	0.48	0.35	0.85	0.45	0.98	0.49	0.97	0.94
Total Stockholder Equity	1.0		0.98	0.8	0.83	0.95	0.84	0.95	-0.28	0.93	-0.74	0.62	-0.66	0.47	0.33	0.87	0.44	0.98	0.52	0.97	0.95
Net Tangible Assets	0.97	0.98		0.68	0.92	0.98	0.75	0.9	-0.29	0.97	-0.62	0.49	-0.71	0.49	0.29	0.95	0.41	0.94	0.61	0.92	0.97
Retained Earnings	0.81	0.8	0.68		0.4	0.57	0.8	0.87	0.02	0.57	-0.84	0.82	-0.19	0.15	0.22	0.51	0.22	0.84	0.24	0.88	0.65
Accounts Payable	0.81	0.83	0.92	0.4		0.93	0.52	0.67	-0.25	0.96	-0.29	0.13	-0.69	0.42	0.04	0.96	0.22	0.75	0.55	0.71	0.89
Capital Surpluse	0.94	0.95	0.98	0.57	0.93		0.71	0.84	-0.38	0.99	-0.53	0.38	-0.79	0.56	0.28	0.94	0.44	0.9	0.57	0.87	0.96
Total Liab	0.87	0.84	0.75	0.8	0.52	0.71		0.88	-0.31	0.68	-0.87	0.78	-0.51	0.47	0.46	0.52	0.47	0.88	0.19	0.86	0.75
Total Current Assets	0.95	0.95	0.9	0.87	0.67	0.84	0.88		-0.27	0.81	-0.84	0.76	-0.56	0.46	0.41	0.76	0.49	0.99	0.54	0.99	0.91
Common Stock	-0.29	-0.28	-0.29	0.02	-0.25	-0.38	-0.31	-0.27		-0.31	0.2	-0.16	0.72	-0.78	-0.49	-0.28	-0.48	-0.25	-0.32	-0.25	-0.3
Property Plant Equipment	0.92	0.93	0.97	0.57	0.96	0.99	0.68	0.81	-0.31		-0.45	0.3	-0.73	0.49	0.14	0.95	0.3	0.88	0.51	0.84	0.94
Net Debt	-0.76	-0.74	-0.62	-0.84	-0.29	-0.53	-0.87	-0.84	0.2	-0.45		-0.98	0.34	-0.31	-0.64	-0.38	-0.59	-0.77	-0.33	-0.82	-0.59
Net Receivables	0.64	0.62	0.49	0.82	0.13	0.38	0.78	0.76	-0.16	0.3	-0.98		-0.23	0.25	0.66	0.26	0.58	0.67	0.31	0.74	0.47
Long Term Debt Total	-0.66	-0.66	-0.71	-0.19	-0.69	-0.79	-0.51	-0.56	0.72	-0.73	0.34	-0.23		-0.89	-0.51	-0.7	-0.57	-0.59	-0.54	-0.57	-0.69
Short Long Term Debt	0.48	0.47	0.49	0.15	0.42	0.56	0.47	0.46	-0.78	0.49	-0.31	0.25	-0.89		0.56	0.47	0.5	0.46	0.43	0.44	0.51
Short Term Debt	0.35	0.33	0.29	0.22	0.04	0.28	0.46	0.41	-0.49	0.14	-0.64	0.66	-0.51	0.56		0.14	0.81	0.32	0.45	0.38	0.3
Current Deferred Revenue	0.85	0.87	0.95	0.51	0.96	0.94	0.52	0.76	-0.28	0.95	-0.38	0.26	-0.7	0.47	0.14		0.29	0.82	0.72	0.8	0.92
Deferred Long Term Liab	0.45	0.44	0.41	0.22	0.22	0.44	0.47	0.49	-0.48	0.3	-0.59	0.58	-0.57	0.5	0.81	0.29		0.42	0.55	0.45	0.42
Net Invested Capital	0.98	0.98	0.94	0.84	0.75	0.9	0.88	0.99	-0.25	0.88	-0.77	0.67	-0.59	0.46	0.32	0.82	0.42		0.5	0.99	0.95
Long Term Investments	0.49	0.52	0.61	0.24	0.55	0.57	0.19	0.54	-0.32	0.51	-0.33	0.31	-0.54	0.43	0.45	0.72	0.55	0.5		0.54	0.63
Net Working Capital	0.97	0.97	0.92	0.88	0.71	0.87	0.86	0.99	-0.25	0.84	-0.82	0.74	-0.57	0.44	0.38	0.8	0.45	0.99	0.54		0.92
Capital Stock	0.94	0.95	0.97	0.65	0.89	0.96	0.75	0.91	-0.3	0.94	-0.59	0.47	-0.69	0.51	0.3	0.92	0.42	0.95	0.63	0.92

Click cells to compare fundamentals

In a nutshell, Beta is a measure of individual stock risk relative to the overall volatility of the stock market. and is calculated based on very sound finance theory - Capital Assets Pricing Model (CAPM).However, since Beta is calculated based on historical price movements it may not predict how a firm's stock is going to perform in the future.

Competition

Predict Co Diagnostics

In accordance with the recently published financial statements, Co Diagnostics has a Beta of 1.299. This is 51.05% higher than that of the Health Care Equipment & Supplies sector and 24.9% higher than that of the Health Care industry. The beta for all United States stocks is notably lower than that of the firm.

CODX Beta Peer Comparison

Stock peer comparison is one of the most widely used and accepted methods of equity analyses. It analyses Co Diagnostics' direct or indirect competition against its Beta to detect undervalued stocks with similar characteristics or determine the stocks which would be a good addition to a portfolio. Peer analysis of Co Diagnostics could also be used in its relative valuation, which is a method of valuing Co Diagnostics by comparing valuation metrics of similar companies.

Co Diagnostics is currently under evaluation in beta category among its peers.

Co Diagnostics Current Valuation Drivers

We derive many important indicators used in calculating different scores of Co Diagnostics from analyzing Co Diagnostics' financial statements. These drivers represent accounts that assess Co Diagnostics' ability to generate profits relative to its revenue, operating costs, and shareholders' equity. Below are some of Co Diagnostics' important valuation drivers and their relationship over time.

	2020	2021	2022	2023	2024	2025 (projected)
Market Cap	248.5M	257.8M	79.3M	39.0M	35.1M	68.9M
Enterprise Value	205.5M	169.2M	56.7M	27.1M	24.4M	23.2M

Co Diagnostics Institutional Holders

Institutional Holdings refers to the ownership stake in Co Diagnostics that is held by large financial organizations, pension funds or endowments. Institutions may purchase large blocks of Co Diagnostics' outstanding shares and can exert considerable influence upon its management. Institutional holders may also work to push the share price higher once they own the stock. Extensive social media coverage, TV shows, articles in high-profile magazines, and presentations at investor conferences help move the stock higher, increasing Co Diagnostics' value.

		Shares
Thompson Davis & Co Inc	2024-12-31	57.2 K
Northern Trust Corp	2024-12-31	55 K
Group One Trading, Lp	2024-12-31	40.4 K
Uma Financial Services Inc	2024-12-31	28.4 K
Squarepoint Ops Llc	2024-12-31	28.4 K
Smi Advisory Services Llc	2024-12-31	28 K
Simplex Trading, Llc	2024-12-31	27.5 K
Jane Street Group Llc	2024-12-31	25.9 K
Morgan Stanley - Brokerage Accounts	2024-12-31	21.8 K
Vanguard Group Inc	2024-12-31	1.8 M
Private Asset Group Llc	2024-12-31	1.2 M

As the market goes up, the company is expected to outperform it. However, if the market returns are negative, Co Diagnostics will likely underperform.

CODX Fundamentals

	Return On Equity	-0.51
	Return On Asset	-0.28
	Operating Margin	(15.96) %
	Current Valuation	(19.83 M)
	Shares Outstanding	31.93 M
	Shares Owned By Insiders	6.70 %
	Shares Owned By Institutions	18.02 %
	Number Of Shares Shorted	232.64 K
	Price To Earning	6.78 X
	Price To Book	0.24 X
	Price To Sales	2.11 X
	Revenue	6.81 M
	Gross Profit	3.61 M
	EBITDA	(41.48 M)
	Net Income	(35.33 M)
	Cash And Equivalents	86.49 M
	Cash Per Share	2.80 X
	Total Debt	2.99 M
	Debt To Equity	0 %
	Current Ratio	16.95 X
	Book Value Per Share	2.00 X
	Cash Flow From Operations	(22.08 M)
	Short Ratio	1.10 X
	Earnings Per Share	(1.38) X
	Target Price	1.5
	Number Of Employees	155
	Beta	1.3
	Market Capitalization	15.46 M
	Total Asset	95.32 M
	Retained Earnings	4.6 M
	Working Capital	56.39 M
	Current Asset	858.78 K
	Current Liabilities	2.84 M
	Net Asset	95.32 M

About Co Diagnostics Fundamental Analysis

The Macroaxis Fundamental Analysis modules help investors analyze Co Diagnostics's financials across various querterly and yearly statements, indicators and fundamental ratios. We help investors to determine the real value of Co Diagnostics using virtually all public information available. We use both quantitative as well as qualitative analysis to arrive at the intrinsic value of Co Diagnostics based on its fundamental data. In general, a quantitative approach, as applied to this company, focuses on analyzing financial statements comparatively, whereas a qaualitative method uses data that is important to a company's growth but cannot be measured and presented in a numerical way.

Please read more on our fundamental analysis page.

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Additional Tools for CODX Stock Analysis

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 the 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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