Co Diagnostics Stock Performance
| CODX Stock | USD 0.94 0.01 1.08% |
The firm owns a Beta (Systematic Risk) of -0.27, which signifies not very significant fluctuations relative to the market. As returns on the market increase, returns on owning Co Diagnostics are expected to decrease at a much lower rate. During the bear market, Co Diagnostics is likely to outperform the market. At this point, Co Diagnostics has a negative expected return of -0.48%. Please make sure to confirm Co Diagnostics' jensen alpha and the relationship between the potential upside and period momentum indicator , to decide if Co Diagnostics performance from the past will be repeated in the future.
Risk-Adjusted Performance
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Over the last 90 days Co Diagnostics has generated negative risk-adjusted returns adding no value to investors with long positions. In spite of uncertain performance in the last few months, the Stock's fundamental indicators remain fairly strong which may send shares a bit higher in December 2024. The current disturbance may also be a sign of long term up-swing for the company investors. ...more
| Begin Period Cash Flow | 23 M |
CODX |
Co Diagnostics Relative Risk vs. Return Landscape
If you would invest 131.00 in Co Diagnostics on August 31, 2024 and sell it today you would lose (37.00) from holding Co Diagnostics or give up 28.24% of portfolio value over 90 days. Co Diagnostics is currently does not generate positive expected returns and assumes 3.0166% risk (volatility on return distribution) over the 90 days horizon. In different words, 26% of stocks are less volatile than CODX, and 99% of all traded equity instruments are projected to make higher returns than the company over the 90 days investment horizon. Expected Return |
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Co Diagnostics Market Risk Analysis
Today, many novice investors tend to focus exclusively on investment returns with little concern for Co Diagnostics' investment risk. Standard deviation is the most common way to measure market volatility of stocks, such as Co Diagnostics, and traders can use it to determine the average amount a Co Diagnostics' price has deviated from the expected return over a period of time. It is calculated by determining the expected price for the established period and then subtracting this figure from each price point. The differences are then squared, summed, and averaged to produce the variance.
Sharpe Ratio = -0.1593
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Estimated Market Risk
| 3.02 actual daily | 26 74% of assets are more volatile |
Expected Return
| -0.48 actual daily | 0 Most of other assets have higher returns |
Risk-Adjusted Return
| -0.16 actual daily | 0 Most of other assets perform better |
Based on monthly moving average Co Diagnostics is not performing at its full potential. However, if added to a well diversified portfolio the total return can be enhanced and market risk can be reduced. You can increase risk-adjusted return of Co Diagnostics by adding Co Diagnostics to a well-diversified portfolio.
Co Diagnostics Fundamentals Growth
CODX Stock prices reflect investors' perceptions of the future prospects and financial health of Co Diagnostics, and Co Diagnostics fundamentals are critical determinants of its market performance. Overall, investors pay close attention to revenue and earnings growth, profit margins, and debt levels. These fundamentals can have a significant impact on CODX Stock performance.
| Return On Equity | -0.51 | ||||
| Return On Asset | -0.28 | ||||
| Operating Margin | (15.96) % | ||||
| Current Valuation | (5.4 M) | ||||
| Shares Outstanding | 31.93 M | ||||
| Price To Earning | 6.78 X | ||||
| Price To Book | 0.47 X | ||||
| Price To Sales | 4.08 X | ||||
| Revenue | 6.81 M | ||||
| EBITDA | (41.48 M) | ||||
| Cash And Equivalents | 86.49 M | ||||
| Cash Per Share | 2.80 X | ||||
| Total Debt | 2.99 M | ||||
| Debt To Equity | 0 % | ||||
| Book Value Per Share | 2.00 X | ||||
| Cash Flow From Operations | (22.08 M) | ||||
| Earnings Per Share | (1.38) X | ||||
| Total Asset | 95.32 M | ||||
| Retained Earnings | 4.6 M | ||||
| Current Asset | 858.78 K | ||||
| Current Liabilities | 2.84 M | ||||
About Co Diagnostics Performance
Evaluating Co Diagnostics' performance through its fundamental ratios, provides valuable insights into its operational efficiency and profitability. For instance, if Co Diagnostics has a high ROA and ROE, it suggests that the company is efficiently using its assets and equity to generate substantial profits, making it an attractive investment. Conversely, if Co Diagnostics has a low ROA and ROE, it may indicate underlying issues in asset and equity management, signaling a need for operational improvements. Please also refer to our technical analysis and fundamental analysis pages.
Co-Diagnostics, Inc., a molecular diagnostics company, develops, manufactures, and sells reagents used for diagnostic tests that function through the detection andor analysis of nucleic acid molecules in the United States and internationally. The company was incorporated in 2013 and is headquartered in Salt Lake City, Utah. Co Diagnostics operates under Medical Devices classification in the United States and is traded on NASDAQ Exchange. It employs 101 people.Things to note about Co Diagnostics performance evaluation
Checking the ongoing alerts about Co Diagnostics for important developments is a great way to find new opportunities for your next move. Stock alerts and notifications screener for Co Diagnostics help investors to be notified of important events, changes in technical or fundamental conditions, and significant headlines that can affect investment decisions.| 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. |
- Analyzing Co Diagnostics' financial statements, including its income statement, balance sheet, and cash flow statement, helps in understanding its overall financial health and growth potential.
- Getting a closer look at valuation ratios like price-to-earnings (P/E) ratio, price-to-sales (P/S) ratio, and price-to-book (P/B) ratio help in understanding whether Co Diagnostics' stock is overvalued or undervalued compared to its peers.
- Examining Co Diagnostics' industry or sector and how it is performing can give you an idea of its growth potential and how it is positioned relative to its competitors.
- Evaluating Co Diagnostics' management team can have a significant impact on its success or failure. Reviewing the track record and experience of Co Diagnostics' management team can help you assess the Company's leadership.
- Pay attention to analyst opinions and ratings of Co Diagnostics' stock. These opinions can provide insight into Co Diagnostics' potential for growth and whether the stock is currently undervalued or overvalued.
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.