Is Co Diagnostics Stock a Good Investment?
Co Diagnostics Investment Advice | CODX |
- Examine Co Diagnostics' financial health by looking at its balance sheet, income statement, and cash flow statement. Analyze key financial ratios, such as Price-to-Earnings (P/E), Price-to-Sales (P/S), and Price-to-Book (P/B), to determine whether the stock is fairly valued or over/undervalued.
- Research Co Diagnostics' leadership team and their track record. Good management can help Co Diagnostics navigate difficult times and make strategic decisions that benefit shareholders and increases its net worth.
- Consider the overall health of the Health Care Equipment & Supplies space and any emerging trends that could impact Co Diagnostics' business and its evolving consumer preferences.
- Compare Co Diagnostics' performance and market position to its competitors. Analyze how Co Diagnostics is positioned in terms of product offerings, innovation, and market share.
- Check if Co Diagnostics pays a dividend and its dividend yield and payout ratio.
- Review what financial analysts are saying about Co Diagnostics' stock and their price targets. However, remember that analysts' opinions can vary, and their predictions may not always be accurate.
It's important to note that investing in Co Diagnostics stock, carries risks, and you should carefully consider your investment goals and risk tolerance before making any investment decisions. Also, remember that it's important for investors to have a long-term perspective and a well-diversified portfolio to manage the impact of stock market volatility on their investments. Below is a detailed guide on how to decide if Co Diagnostics is a good investment.
Sell | Buy |
Strong Sell
Market Performance | Very Weak | Details | |
Volatility | Dangerous | Details | |
Hype Condition | Over hyped | Details | |
Current Valuation | Undervalued | Details | |
Odds Of Distress | Low | Details | |
Economic Sensitivity | Almost neglects market trends | Details | |
Investor Sentiment | Alarmed | Details | |
Analyst Consensus | Hold | Details | |
Financial Strenth (F Score) | Poor | Details | |
Financial Leverage | Not Rated | Details | |
Reporting Quality (M-Score) | Unlikely Manipulator | Details |
Examine Co Diagnostics Stock
Researching Co Diagnostics' stock involves analyzing various aspects of the company and its industry to make an informed investment decision. The key areas to focus on are fundamentals, business model and competitive advantage. It is also important to analyze trends in revenue, net income, and cash flow, as well as key financial ratios, such as price-to-earnings (P/E), price-to-sales (P/S), and debt-to-equity (D/E). About 14.0% of the company shares are held by institutions such as insurance companies. The company has price-to-book (P/B) ratio of 0.37. Some equities with similar Price to Book (P/B) outperform the market in the long run. Co Diagnostics recorded a loss per share of 1.38. The entity had not issued any dividends in recent years.
To determine if Co Diagnostics is a good investment, evaluating the company's potential for future growth is also very important. This may include expanding into new markets, launching new products or services, or improving operational efficiency. Companies with strong growth prospects can be more attractive investments. This aspect of the research should be conducted in the context of the overall market and industry in which the company operates and should include an analysis of growth potential, competitive landscape, and any regulatory or economic factors that could impact the business. Some of the essential points regarding Co Diagnostics' research are outlined below:
| Co Diagnostics generated a negative expected return over the last 90 days | |
| Co Diagnostics has some characteristics of a very speculative penny stock | |
| Co Diagnostics has high historical volatility and very poor performance | |
| The company reported the previous year's revenue of 6.81 M. Net Loss for the year was (35.33 M) with profit before overhead, payroll, taxes, and interest of 28.74 M. | |
| Co Diagnostics currently holds about 86.49 M in cash with (22.08 M) of positive cash flow from operations. This results in cash-per-share (CPS) ratio of 2.8, which can makes it an attractive takeover target, given it will continue generating positive cash flow. | |
| Co Diagnostics has a poor financial position based on the latest SEC disclosures | |
| Latest headline from finance.yahoo.com: Co-Diagnostics, Inc. and CoSara Diagnostics to Inaugurate New Oligo Facility |
Co Diagnostics Quarterly Liabilities And Stockholders Equity |
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Co Diagnostics uses earnings reports to provide investors with an update of all three financial statements, including the income statement, the balance sheet, and the cash flow statement. Therefore, it is also crucial when considering investing in Co Diagnostics. Every quarterly earnings report provides investors with an overview of sales, expenses, and net income for the most recent period. It also may provide a comparison to Co Diagnostics' previous reporting period. The quarterly earnings reports are usually disseminated to the public via Form 10-Q, which is a legal document filed with the Securities and Exchange Commission every quarter.
| 21st of March 2024 Upcoming Quarterly Report | View | |
| 9th of May 2024 Next Financial Report | View | |
| 31st of December 2023 Next Fiscal Quarter End | View | |
| 21st of March 2024 Next Fiscal Year End | View | |
| 30th of September 2023 Last Quarter Report | View | |
| 31st of December 2022 Last Financial Announcement | View |
Earnings surprises can significantly impact Co Diagnostics' stock price both in the short term and over time. Negative earnings surprises usually result in a price decline. However, it has been seen that positive earnings surprises lead to an immediate rise in a stock's price and a gradual increase over time. This is why we often hear news about some companies beating earning projections. Financial analysts spend a large amount of time predicting earnings per share (EPS) along with other important future indicators. Many analysts use forecasting models, management guidance, and additional fundamental information to derive an EPS estimate. Below are the table of largest EPS Surprises Co Diagnostics' investors have experienced.
| Reported | Fiscal Date | Estimated EPS | Reported EPS | Surprise | |||
|---|---|---|---|---|---|---|---|
2019-05-14 | 2019-03-31 | -0.08 | -0.09 | -0.01 | 12 | ||
2018-12-31 | 2018-12-31 | -0.13 | -0.15 | -0.02 | 15 | ||
2019-11-12 | 2019-09-30 | -0.07 | -0.1 | -0.03 | 42 | ||
2019-08-14 | 2019-06-30 | -0.05 | -0.08 | -0.03 | 60 | ||
2021-05-13 | 2021-03-31 | 0.22 | 0.26 | 0.04 | 18 | ||
2023-08-10 | 2023-06-30 | -0.24 | -0.31 | -0.07 | 29 | ||
2023-11-09 | 2023-09-30 | -0.29 | -0.2 | 0.09 | 31 | ||
2024-05-09 | 2024-03-31 | -0.21 | -0.31 | -0.1 | 47 |
Know Co Diagnostics' Top Institutional Investors
Have you ever been surprised when a price of an equity instrument such as Co Diagnostics is soaring high without any particular reason? This is usually happening because many institutional investors are aggressively trading Co Diagnostics backward and forwards among themselves. Co Diagnostics' institutional investor refers to the entity that pools money to purchase Co Diagnostics' securities or originate loans. Institutional investors include commercial and private banks, credit unions, insurance companies, pension funds, hedge funds, endowments, and mutual funds. Operating companies that invest excess capital in these types of assets may also be included in the term and may influence corporate governance by exercising voting rights in their investments.
| Shares | Thompson Davis & Co Inc | 2024-09-30 | 41.5 K | Group One Trading, Lp | 2024-09-30 | 40.1 K | Uma Financial Services Inc | 2024-09-30 | 28.4 K | Smi Advisory Services Llc | 2024-09-30 | 28 K | Virtu Financial Llc | 2024-06-30 | 27.9 K | Citadel Advisors Llc | 2024-09-30 | 25.4 K | Morgan Stanley - Brokerage Accounts | 2024-09-30 | 14.5 K | Ubs Group Ag | 2024-09-30 | 12.8 K | Advisor Group Holdings, Inc. | 2024-09-30 | 12.4 K | Vanguard Group Inc | 2024-09-30 | 1.8 M | Renaissance Technologies Corp | 2024-09-30 | 567.7 K |
Co Diagnostics' market capitalization trends
The company currently falls under 'Micro-Cap' category with a current market capitalization of 23.17 M.Market Cap |
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Co Diagnostics' profitablity analysis
| Last Reported | Projected for Next Year | ||
| Return On Tangible Assets | (0.51) | (0.54) | |
| Return On Capital Employed | (0.48) | (0.45) | |
| Return On Assets | (0.37) | (0.39) | |
| Return On Equity | (0.41) | (0.43) |
Determining Co Diagnostics' profitability involves analyzing its financial statements and using various financial metrics to determine if Co Diagnostics is a good buy. For example, gross profit margin measures Co Diagnostics' profitability after accounting for the cost of goods sold, while net profit margin measures profitability after accounting for all expenses. Other important metrics include return on assets, return on equity, and free cash flow. By reviewing multiple sources and metrics, you can gain a complete picture of Co Diagnostics' profitability and make more informed investment decisions.
Please note, the imprecision that can be found in Co Diagnostics' accounting process means that the reasonable investor should take a skeptical approach toward the financial statement analysis of Co Diagnostics. Check Co Diagnostics' Beneish M Score to see the likelihood of Co Diagnostics' management manipulating its earnings.
Evaluate Co Diagnostics' management efficiency
Co Diagnostics has return on total asset (ROA) of (0.2761) % which means that it has lost $0.2761 on every $100 spent on assets. This is way below average. Similarly, it shows a return on stockholder's equity (ROE) of (0.5057) %, meaning that it created substantial loss on money invested by shareholders. Co Diagnostics' management efficiency ratios could be used to measure how well Co Diagnostics manages its routine affairs as well as how well it operates its assets and liabilities. Return On Tangible Assets is likely to drop to -0.54 in 2024. Return On Capital Employed is likely to rise to -0.45 in 2024. At this time, Co Diagnostics' Net Tangible Assets are fairly stable compared to the past year. Non Current Assets Total is likely to rise to about 34.8 M in 2024, whereas Total Assets are likely to drop slightly above 50.6 M in 2024.| Last Reported | Projected for Next Year | ||
| Book Value Per Share | 2.93 | 3.08 | |
| Tangible Book Value Per Share | 2.03 | 2.13 | |
| Enterprise Value Over EBITDA | (0.65) | (0.69) | |
| Price Book Value Ratio | 0.45 | 0.43 | |
| Enterprise Value Multiple | (0.65) | (0.69) | |
| Price Fair Value | 0.45 | 0.43 | |
| Enterprise Value | 27.1 M | 25.7 M |
Management at Co Diagnostics focuses on leveraging technology and optimizing operations. We evaluate the impact of these focuses on the company's financial health and stock performance.
Beta (0.85) |
Basic technical analysis of CODX Stock
As of the 20th of December, Co Diagnostics owns the Variance of 10.34, market risk adjusted performance of 1.71, and Information Ratio of (0.25). Co Diagnostics technical analysis gives you the methodology to make use of past data patterns to determine a pattern that approximates the direction of the firm's future prices.Co Diagnostics' insider trading activities
Some recent studies suggest that insider trading raises the cost of capital for securities issuers and decreases overall economic growth. Trading by specific Co Diagnostics insiders, such as employees or executives, is commonly permitted as long as it does not rely on Co Diagnostics' material information that is not in the public domain. Local jurisdictions usually require such trading to be reported in order to monitor insider transactions. In many U.S. states, trading conducted by corporate officers, key employees, directors, or significant shareholders must be reported to the regulator or publicly disclosed, usually within a few business days of the trade. In these cases Co Diagnostics insiders are required to file a Form 4 with the U.S. Securities and Exchange Commission (SEC) when buying or selling shares of their own companies.
Co Diagnostics' Outstanding Corporate Bonds
Co Diagnostics issues bonds to finance its operations. Corporate bonds make up one of the largest components of the U.S. bond market, which is considered the world's largest securities market. Co Diagnostics uses the proceeds from bond sales for a wide variety of purposes, including financing ongoing mergers and acquisitions, buying new equipment, investing in research and development, buying back their own stock, paying dividends to shareholders, and even refinancing existing debt. Most CODX bonds can be classified according to their maturity, which is the date when Co Diagnostics has to pay back the principal to investors. Maturities can be short-term, medium-term, or long-term (more than ten years). Longer-term bonds usually offer higher interest rates but may entail additional risks.
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Understand Co Diagnostics' technical and predictive indicators
Using predictive indicators to make investment decisions involves analyzing Co Diagnostics' various financial and market-based factors to help forecast future trends and identify investment opportunities. Select the indicators that are most relevant to your investment strategy. Each indicator has its own strengths and weaknesses, so it's essential to combine multiple indicators to get a more comprehensive view of the market and reduce the risk of making poor decisions based on limited data.
| Risk Adjusted Performance | (0.18) | |||
| Market Risk Adjusted Performance | 1.71 | |||
| Mean Deviation | 2.55 | |||
| Coefficient Of Variation | (416.45) | |||
| Standard Deviation | 3.22 | |||
| Variance | 10.34 | |||
| Information Ratio | (0.25) | |||
| Jensen Alpha | (0.77) | |||
| Total Risk Alpha | (0.88) | |||
| Treynor Ratio | 1.7 | |||
| Maximum Drawdown | 13.48 | |||
| Value At Risk | (6.20) | |||
| Potential Upside | 5.13 | |||
| Skewness | 0.1143 | |||
| Kurtosis | (0.47) |
| Risk Adjusted Performance | (0.18) | |||
| Market Risk Adjusted Performance | 1.71 | |||
| Mean Deviation | 2.55 | |||
| Coefficient Of Variation | (416.45) | |||
| Standard Deviation | 3.22 | |||
| Variance | 10.34 | |||
| Information Ratio | (0.25) | |||
| Jensen Alpha | (0.77) | |||
| Total Risk Alpha | (0.88) | |||
| Treynor Ratio | 1.7 | |||
| Maximum Drawdown | 13.48 | |||
| Value At Risk | (6.20) | |||
| Potential Upside | 5.13 | |||
| Skewness | 0.1143 | |||
| Kurtosis | (0.47) |
Consider Co Diagnostics' intraday indicators
Co Diagnostics intraday indicators are useful technical analysis tools used by many experienced traders. Just like the conventional technical analysis, daily indicators help intraday investors to analyze the price movement with the timing of Co Diagnostics stock daily movement. By combining multiple daily indicators into a single trading strategy, you can limit your risk while still earning strong returns on your managed positions.
| Accumulation Distribution | 32786.36 | |||
| Rate Of Daily Change | 1.0 | |||
| Day Median Price | 0.74 | |||
| Day Typical Price | 0.74 | |||
| Price Action Indicator | (0.01) | |||
| Relative Strength Index | 31.71 |
CODX Stock media impact
Far too much social signal, news, headlines, and media speculation about Co Diagnostics that are available to investors today. That information is available publicly through CODX media outlets and privately through word of mouth or via CODX internal channels. However, regardless of the origin, that massive amount of CODX data is challenging to quantify into actionable patterns, especially for investors that are not very sophisticated with ever-evolving tools and techniques used in the investment management field.
A primary focus of Co Diagnostics news analysis is to determine if its current price reflects all relevant headlines and social signals impacting the current market conditions. A news analyst typically looks at the history of Co Diagnostics relative headlines and hype rather than examining external drivers such as technical or fundamental data. It is believed that price action tends to repeat itself due to investors' collective, patterned thinking related to Co Diagnostics' headlines and news coverage data. This data is often completely overlooked or insufficiently analyzed for actionable insights to drive Co Diagnostics alpha.
Co Diagnostics Sentiment by Major News Outlets
Investor sentiment, mood or attitude towards Co Diagnostics can have a significant impact on its stock price or the market as a whole. This sentiment can be positive or negative, and various factors, such as economic indicators, news events, or market trends, can influence it. When investor sentiment is positive, investors are more likely to buy stocks, increasing demand and increasing the stock price. Positive investor sentiment can be driven by good news about the company or the broader market, such as solid earnings reports or positive economic data.
Note that negative investor sentiment can cause investors to sell stocks, leading to a decrease in demand and a drop in the stock price. Negative sentiment can be driven by factors such as poor earnings reports, negative news about the company or industry, or broader economic concerns. It's important to note that investor sentiment is just one of many factors that can affect stock prices. Other factors, such as company performance, industry trends, and global economic conditions, can also play a significant role in determining the value of a stock.
Co Diagnostics Corporate Management
| Christopher Thurston | Chief Officer | Profile | |
| Andrew Benson | Head Relations | Profile | |
| Mayuranki Almaula | Senior Alliances | Profile | |
| Dan CPA | Vice Accounting | Profile | |
| Ivory Chang | Chief Officer | Profile |
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.