How to buy Co-Diagnostics shares

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Co-Diagnostics, Inc is a diagnostics & research business with stocks listed in the US. Co-Diagnostics shares (CODX) are listed on the NASDAQ and all prices are listed in US Dollars. Its last market close was US$12.12 – a decrease of 13.43% over the previous week. Here's how to invest if you're based in Australia.

How to buy shares in Co-Diagnostics

  1. Compare share trading platforms. To buy shares in a US company from Australia you'll need to find a trading platform that offers access to US stock markets. If you're just starting out, look for a platform with low brokerage and foreign exchange fees.
  2. Open and fund your brokerage account. Complete an application with your personal and financial details, like your ID and tax file number. Fund your account with a bank transfer, credit card or debit card.
  3. Search for Co-Diagnostics. Find the share by name or ticker symbol: CODX. Research its history to confirm it's a solid investment against your financial goals.
  4. Purchase now or later. Buy today with a market order or use a limit order to delay your purchase until Co-Diagnostics reaches your desired price. To spread out your risk, look into dollar-cost averaging, which smooths out buying at consistent intervals and amounts.
  5. Decide on how many to buy. At last close price of US$12.12, weigh your budget against a diversified portfolio that can minimise risk through the market's ups and downs. You may be able to buy a fractional share of Co-Diagnostics, depending on your broker.
  6. Check in on your investment. Congratulations, you own a part of Co-Diagnostics. Optimise your portfolio by tracking how your stock — and even the business — performs with an eye on the long term. You may be eligible for dividends and shareholder voting rights on directors and management that can affect your stock.

How has coronavirus impacted Co-Diagnostics's share price?

Since the stock market crash in March caused by coronavirus, Co-Diagnostics's share price has had significant positive movement.

Its last market close was US$12.12, which is 74.83% up on its pre-crash value of US$3.05 and 396.72% up on the lowest point reached during the March crash when the shares fell as low as US$2.44.

If you had bought US$1,000 worth of Co-Diagnostics shares at the start of February 2020, those shares would have been worth US$3,153.30 at the bottom of the March crash, and if you held on to them, then as of the last market close they'd be worth US$4,039.96.

Co-Diagnostics share price

Use our graph to track the performance of CODX stocks over time.

Co-Diagnostics shares at a glance

Information last updated 2021-01-14.
52-week rangeUS$1.07 - US$29.99
50-day moving average US$10.6867
200-day moving average US$14.5409
Target priceUS$31
PE ratio 9.082
Dividend yield N/A (0%)
Earnings per share (TTM) US$1.122

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Is it a good time to buy Co-Diagnostics stock?

The technical analysis gauge below displays real-time ratings for the timeframes you select. This is not a recommendation, however. It represents a technical analysis based on the most popular technical indicators: Moving Averages, Oscillators and Pivots. Finder might not concur and takes no responsibility.

Co-Diagnostics price performance over time

Historical closes compared with the close of $12.12 on 2020-10-22

1 week (2021-01-07) 12.43%
1 month (2020-12-17) 11.60%
3 months (2020-10-16) -13.43%
6 months (2020-07-17) -34.31%
1 year (2020-01-16) 1,043.40%
2 years (2019-01-16) 1,012.03%
3 years (2018-01-16) 305.35%
5 years (2016-01-13) N/A

Is Co-Diagnostics under- or over-valued?

Valuing Co-Diagnostics stock is incredibly difficult, and any metric has to be viewed as part of a bigger picture of Co-Diagnostics's overall performance. However, analysts commonly use some key metrics to help gauge the value of a stock.

Co-Diagnostics's P/E ratio

Co-Diagnostics's current share price divided by its per-share earnings (EPS) over a 12-month period gives a "trailing price/earnings ratio" of roughly 9x. In other words, Co-Diagnostics shares trade at around 9x recent earnings.

That's relatively low compared to, say, the trailing 12-month P/E ratio for the NASDAQ 100 at the end of 2019 (27.29). The low P/E ratio could mean that investors are pessimistic about the outlook for the shares or simply that they're under-valued.

Co-Diagnostics's EBITDA

Co-Diagnostics's EBITDA (earnings before interest, taxes, depreciation and amortisation) is US$24.1 million (£0.0 million).

The EBITDA is a measure of a Co-Diagnostics's overall financial performance and is widely used to measure a its profitability.

Co-Diagnostics financials

Revenue TTM US$47.5 million
Operating margin TTM 50.6%
Gross profit TTM US$102,543
Return on assets TTM 51.4%
Return on equity TTM 99.58%
Profit margin 58.79%
Book value 1.874
Market capitalisation US$288.1 million

TTM: trailing 12 months

Shorting Co-Diagnostics shares

There are currently 6.8 million Co-Diagnostics shares held short by investors – that's known as Co-Diagnostics's "short interest". This figure is 6.5% down from 7.3 million last month.

There are a few different ways that this level of interest in shorting Co-Diagnostics shares can be evaluated.

Co-Diagnostics's "short interest ratio" (SIR)

Co-Diagnostics's "short interest ratio" (SIR) is the quantity of Co-Diagnostics shares currently shorted divided by the average quantity of Co-Diagnostics shares traded daily (recently around 1.4 million). Co-Diagnostics's SIR currently stands at 4.82. In other words for every 100,000 Co-Diagnostics shares traded daily on the market, roughly 4820 shares are currently held short.

However Co-Diagnostics's short interest can also be evaluated against the total number of Co-Diagnostics shares, or, against the total number of tradable Co-Diagnostics shares (the shares that aren't held by "insiders" or major long-term shareholders – also known as the "float"). In this case Co-Diagnostics's short interest could be expressed as 0.23% of the outstanding shares (for every 100,000 Co-Diagnostics shares in existence, roughly 230 shares are currently held short) or 0.231% of the tradable shares (for every 100,000 tradable Co-Diagnostics shares, roughly 231 shares are currently held short).

Such a low SIR usually points to an optimistic outlook for the share price, with fewer people currently willing to bet against Co-Diagnostics.

Find out more about how you can short Co-Diagnostics stock.

Co-Diagnostics share dividends

We're not expecting Co-Diagnostics to pay a dividend over the next 12 months.

Co-Diagnostics share price volatility

Over the last 12 months, Co-Diagnostics's shares have ranged in value from as little as US$1.07 up to US$29.99. A popular way to gauge a stock's volatility is its "beta".

Beta is a measure of a share's volatility in relation to the market. The market (NASDAQ average) beta is 1, while Co-Diagnostics's is -1.7732. This would suggest that Co-Diagnostics's shares have been inversely-correlated to the average (for this exchange) – so when the broader market trended up or down, Co-Diagnostics has bucked the trend.

Co-Diagnostics overview

Co-Diagnostics, Inc., a molecular diagnostics company, intends to manufacture and sell reagents used for diagnostic tests that function via the detection and/or analysis of nucleic acid molecules. It also intends to sell diagnostic equipment from other manufacturers as self-contained lab systems. The company was founded in 2013 and is headquartered in Salt Lake City, Utah.

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