![]() ![]() ![]() Reportedly, analysts on Wall Street have slashed their price target on the stock by 13%.īargain seekers are supposed to buy during times of pessimism, so the price target reduction isn’t necessarily a bad thing as the earnings release approaches. Then, buy some more shares afterwards if the stock price declines. Therefore, one strategy could be to accumulate some CODX stock shares prior to the upcoming earnings release. If the stock falls after the release of the earnings data – and if the data isn’t too terrible – then the shares could be an even better bargain than they are now. That’s quite reasonable, and it implies that Co-Diagnostics shares are low-priced in relation to the company’s earnings on a per-share basis. Notably, CODX stock has a trailing 12-month price-to-earnings ratio of 12.52. Since the share price has declined, there may be an opportunity here for bargain hunters. However, possibly because the stock just went up too quickly, the share price declined during the following months.Īs of Mar. Later, in early August, CODX stock powered its way to a 52-week high of $30.99. During that month, Co-Diagnostic shares shot up to nearly $18. There’s a definite possibility that traders will never get to buy the shares below $1 again.ĭue to the onset of the novel coronavirus, the demand for diagnostic testing ramped up in March of last year. Today, it’s amazing to consider that CODX stock ended 2019 at 89 cents. After all, if you believe that the company has a future, then short-term events shouldn’t dissuade you from taking a long-term position. Perhaps more importantly, I’ll contend that the stock is worth owning regardless of how the earnings event turns out. That situation might not last for too much longer, though, if Co-Diagnostics shares catapult higher post-earnings-release. Today, I will make the case that CODX stock is already trading at a very reasonable valuation. There will also be a conference call on that day. Co-Diagnostics plans to release both its fourth-quarter and full-year 2020 financial results on Mar. ![]()
0 Comments
Leave a Reply. |
AuthorWrite something about yourself. No need to be fancy, just an overview. ArchivesCategories |