CODX stock: buy or sell?

CODX stock price: $7.62 -7.07% At close on March 31st, 2020

Updated on:
March 31st, 2020

3

Co-Diagnostics plunged a scary -7.07% and closed at $7.62. On Wednesday CODX skyrocketed an amazing 8.71%. With Tuesday it's been 3 sliding days in a row, loosing $-1.78 (-19.87%).

Co-Diagnostics, Inc., a molecular diagnostics company, intends to manufacture and sell reagents used for diagnostic tests that function via the detection and\u002For analysis of nucleic acid molecules.

Should I buy CODX stock?

Even if you are a experienced or a novel trader, best trading results come from using an investing strategy that never leaves to random or subjective opinions when is the best moment to buy or sell stocks. Trading strategies are meant for helping you in the decision process of what stocks to choose and when is the best time to buy them. There are thousands of trading strategies for you to choose, but at Stocks2.com we prefer those that are simple but successful.

None of our preferred buy setups matches with Co-Diagnostics stock situation right now, hence this is not a suitable entry point.

Buy setupElegible
New all-time highNo
New 52 week highNo
Price crossing up 200d MANo
100d MA crossing up 200d MANo
This doesn't mean CODX will fall in coming sessions, or it will not rise higher. Simply, it doesn't match our recommended trading systems.

Is Co-Diagnostics stock a buy?

Banks and financial institutions post stock ratings everyday. Unfortunately, we couldn't detect any rating for CODX stock for the last 30 days.

CODX stock analysis

Daily outlook

Shares of Co-Diagnostics closed today at $7.62 and plunged a scary -7.07%.

Co-Diagnostics plunged a scary -7.07% and closed at $7.62. Since price and SMA200d lines crossed up on January, CODX climbed $6.70 (728.26%). Since last November when SMA100d and SMA200d crossed up, CODX price gained $6.71 per share (737.36%). On February 28th, CODX hit a new all time high, pushing higher than on February 27th tops. Check different trading setups that use ATHs as triggers.

CODX stock chart (daily)

Weekly outlook

Co-Diagnostics plummed a chilling -16.72% this week. By mid March CODX rocketed an extraordinary 5.65% in just one week.

Not so far away is the last price record Co-Diagnostics marked late February, but since then it dropped a 64.97%. Co-Diagnostics stock is trading in the range of its last top and last bottom. Loosing would mean breaking the current uptrend. Breakdowns under last bottom are selling point signals for some trading strategies. Since early January when CODX stock price broke up the SMA40w line, it gained $6.71 (737.36%). Since SMA20d and SMA40w crossed up early November, CODX price climbed $6.64 per share (677.55%).

CODX stock chart (weekly)

CODX stock price history

CODX stock went public on July 12th, 2017 with a price of $6.001. Since then, CODX stock surged a 27.00%, with a yearly average of 13.50%. If you had invested $1,000 in CODX stock in 2017, it would worth $270.00 today.

1: Adjusted price after possible price splits or reverse-splits.

CODX stock historical price chart

CODX stock reached all-time highs on February/28 with a price of $21.75.

CODX stock price target

Predicting the price evolution of a stock or any financial instrument in a reliable and repeatable way is probably impossible. However, many stock price predictions are published every day by banks, financial institutions and independent analysts. We do not recommend to follow these stock price predictions without a critical thinking from your side, as their accuracy is usually low. For the last 30 days we have not found any price target for Co-Diagnostics stock by any trusted analyst.

Financials and fundamental analysis

Earnings date and Earnings per Share

CODX earnings date and EPS evolution
QuarterReporting dateEstimated EPSActual EPSSurprise
2017-Q1-n/a-0.07n/a
2017-Q2-n/a-0.09n/a
2017-Q3-n/a-0.15n/a
2017-Q4-n/an/an/a
2018-Q1-n/an/an/a
2018-Q2-n/an/an/a
2018-Q3-n/an/an/a
2018-Q4-n/an/an/a
2019-Q1-n/an/an/a
2019-Q2-n/an/an/a

Co-Diagnostics ownership

When you are planning to buy a stock, it's worth to check its ownership structure.

Co-Diagnostics shares owned by insiders (that is, founders, CEO, CTO, main executives or other management staff) currently counts a 26.17% of all shares.

In case of Co-Diagnostics stock, 9.07% of its shares are held by institutions (mutual funds, pension funds, big banks and other large financial institutions). Bearish positions for CODX stock account 0.00%, no big difference from last month.

For a better context understanding, the next table shows ownership data compared to other related stocks:

CODX
Market cap$189.9 M
Total shares24.9 M
Float shares13.5 M
  - Institutional holdings (%)9.1%
  - Insider holdings (%)26.2%
Shares in short selling0.0%

CODX summary

Tuesday, March 31st, 2020
Open$7.80
Close$7.62
Day range$7.50 - $7.99
Previous close$8.20
Session gain-7.07%
Average true range$2.06
50d mov avg$6.92
100d mov avg$3.95
200d mov avg$2.50
Daily patternlt11a
Weekly pattern lt06a

Co-Diagnostics performance

Performance as an absolute value is never valid if it's not benchmarked against competitors or related stocks in the industry. For Co-Diagnostics, the comparison is made against .
Stock3m6m12m
CODXCo-Diagnostics737.36%580.36%612.15%

Co-Diagnostics competitors

Unfortunately, we could not find any public company that could be defined as Co-Diagnostics competitor. This doesn't mean Co-Diagnostics does not have any competitor in the market, it's just we could not detected it.