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Is Co Diagnostics outlook positive for April 2022?

March 24, 2022  By Vlad Skutelnik
Macroaxis Story
As many millenniums are trying to avoid healthcare space, it makes sense to break down Co-Diagnostics a little further and try to understand its current market patterns. We will analyze why Co Diagnostics investors may still consider a stake in the business. What is Co Diagnostics valuation so far in 2022? We are going to cover the firm perspective on valuation to give investors a better transparency on taking a position in it.
Published over a year ago
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Reviewed by Rifka Kats

Debt to Equity Ratio is likely to rise to 0.08 in 2022. Average Equity is likely to rise to about 54.1 M in 2022
The firm owns a Beta (Systematic Risk) of 2.3766, which signifies a somewhat significant risk relative to the market. Let's try to break down what Co Diagnostics's beta means in this case. As the market goes up, the company is expected to outperform it. However, if the market returns are negative, Co Diagnostics will likely underperform. Even though it is essential to pay attention to Co-Diagnostics existing price patterns, it is always good to be careful when utilizing equity price patterns. Our approach into foreseeing any stock's future performance is to check both, its past performance charts as well as the business as a whole, including all available technical indicators. Co Diagnostics exposes twenty-eight different technical indicators, which can help you to evaluate its performance. Co-Diagnostics has an expected return of -0.67%. Please be advised to confirm Co-Diagnostics maximum drawdown, and the relationship between the information ratio and expected short fall to decide if Co-Diagnostics performance from the past will be repeated in the future.
We determine the current worth of Co Diagnostics using both absolute as well as relative valuation methodologies to arrive at its intrinsic value. In general, an absolute valuation paradigm, as applied to this company, attempts to find the value of Co Diagnostics based exclusively on its fundamental and basic technical indicators. By analyzing Co Diagnostics's financials, quarterly and monthly indicators, and related drivers such as dividends, operating cash flow, and various types of growth rates, we attempt to find the most accurate representation of Co Diagnostics's intrinsic value. In some cases, mostly for established, large-cap companies, we also incorporate more traditional valuation methods such as dividend discount, discounted cash flow, or asset-based models. As compared to an absolute model, our relative valuation model uses a comparative analysis of Co Diagnostics. We calculate exposure to Co Diagnostics's market risk, different technical and fundamental indicators, relevant financial multiples and ratios, and then comparing them to Co Diagnostics's related companies.

Watch out for price decline

Please consider monitoring Co Diagnostics on a daily basis if you are holding a position in it. Co Diagnostics is trading at a penny-stock level, and the possibility of delisting is much higher compared to other stocks. However, just because the stock is trading under one dollar, does not mean it will be marked for deletion. Most exchanges require public instruments, such as Co Diagnostics stock to be traded above the $1 level to remain listed. If Co Diagnostics stock price falls below $1 for 30 consecutive trading days, the exchange can delist it. Once the company reaches this point, they will be sent an initial price violation notice directly from an exchange.

Co Diagnostics Investment Alerts

CODX investment alerts and warnings help investors to get more proficient at understanding not only critical technical and fundamental signals but also the significant portfolio-centered indicators. These indicators include beta, alpha, and other risk-related measures that will help you in monitoring Co Diagnostics performance across your portfolios.Please check all investment alerts for CODX

Co Diagnostics Valuation Ratios as Compared to Competition

Our valuation model uses many indicators to compare CODX value to that of its competitors to determine the firm's financial worth. You can analyze the relationship between different fundamental ratios across Co Diagnostics competition to find correlations between indicators driving the intrinsic value of CODX.

Co Diagnostics Gross Profit

Co Diagnostics Gross Profit growth is one of the most critical measures in evaluating the company. The Gross Profit growth rate is calculated simply by comparing Co Diagnostics previous period's values with its current period's values. Each time period you're measuring should be of equal lengths the increase or decrease, in a company's Gross Profit between two periods. Here we show Co Diagnostics Gross Profit growth over the last 10 years. Please check Co Diagnostics' gross profit and other fundamental indicators for more details.

Is Co Diagnostics valued reasonably by the market?

The big decline in price over the last few months for Co-Diagnostics could raise concerns from investors as the firm is trading at a share price of 6.51 on 476,409 in volume. The company directors and management failed to add value to investors and position the firm supply of money to exploit market volatility in February. However, diversifying your holdings with Co Diagnostics or similar stocks can still protect your portfolios during high-volatility market scenarios. The stock standard deviation of daily returns for 90 days investing horizon is currently 3.96. The above-average risk is mostly attributed to market volatility and speculations regarding some of the upcoming earning calls from Co-Diagnostics partners.

Margins Breakdown

Co Diagnostics profit margins show the degree to which it makes money. Margin indicators are used not only by investors but also by creditors or Co Diagnostics itself as indicators of financial health and management effectiveness. Please look more closely at the different varieties of Co Diagnostics profit margins.
EBITDA Margin0.71
Gross Margin0.71
Profit Margin0.71
Co Diagnostics Earnings Before Interest Taxes and Depreciation Amortization USD is fairly stable at the moment. Further, Co Diagnostics Earnings before Tax is fairly stable at the moment. Co Diagnostics Earnings Before Interest Taxes and Depreciation Amortization USD is fairly stable at the moment. Further, Co Diagnostics Earnings before Tax is fairly stable at the moment.

Can Co Diagnostics build up on the current rise?

Kurtosis is down to 1.38. It may suggest a possible volatility slide. Co-Diagnostics exhibits very low volatility with skewness of 0.63 and kurtosis of 1.38. However, we advise investors to further study Co-Diagnostics technical indicators to make sure all market info is available and is reliable. Understanding different market volatility trends often help investors to time the market. Properly using volatility indicators enable traders to measure Co Diagnostics' stock risk against market volatility during both bullying and bearish trends. The higher level of volatility that comes with bear markets can directly impact Co Diagnostics' stock price while adding stress to investors as they watch their shares' value plummet. This usually forces investors to rebalance their portfolios by buying different stocks as prices fall.

Co Diagnostics Implied Volatility

Co Diagnostics' implied volatility exposes the market's sentiment of Co-Diagnostics stock's possible movements over time. However, it does not forecast the overall direction of its price. In a nutshell, if Co Diagnostics' implied volatility is high, the market thinks the stock has potential for high price swings in either direction. On the other hand, the low implied volatility suggests that Co Diagnostics stock will not fluctuate a lot when Co Diagnostics' options are near their expiration.

The Bottom Line

While other entities in the diagnostics & research industry are either recovering or due for a correction, Co Diagnostics may not be as strong as the others in terms of longer-term growth potentials. With an impartial outlook on the current market volatility, it may be better to hold off any inventment activity and neither purchase nor trade any shares of Co Diagnostics at this time. The Co-Diagnostics risk-reward trade off is not appealing enough to do any trading. Please use our equity advice module to run different scenarios to ensure your current risk level and investment horizon are fully reflective of your current investing preferences in regards to Co Diagnostics.

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Editorial Staff

Vlad Skutelnik is a Macroaxis Contributor. Vlad covers stocks, funds, cryptocurrencies, and ETFs that are traded in North America, focusing primarily on fundamentals, valuation and market volatility. He has many years of experience in fintech, predictive investment analytics, and risk management. View Profile
This story should be regarded as informational only and should not be considered a solicitation to sell or buy any financial products. Macroaxis does not express any opinion as to the present or future value of any investments referred to in this post. This post may not be reproduced without the consent of Macroaxis LLC. Macroaxis LLC and Vlad Skutelnik do not own shares of Co Diagnostics. Please refer to our Terms of Use for any information regarding our disclosure principles.

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