Co-Diagnostics Stock (NASDAQ:CODX), Trade Ideas

Co-Diagnostics

Co-Diagnostics Inc is a molecular diagnostics company. It develops, licenses, and commercializes molecular technologies such as lab systems (MDx device) and manufacture and sell reagents used for tests that are designed using the detection and/or analysis of nucleic acid molecules (DNA or RNA). CDI's low-cost system uses its tests to diagnose tuberculosis, Zika, hepatitis B and C, Malaria, dengue and HIV.The Company's technologies are utilized for tests that are designed using the detection and/or analysis of nucleic acid molecules (DNA or RNA). The Company also uses its proprietary technology to design specific tests for its Co-Dx PCR platform and to locate genetic markers for use in applications other than infectious diseases.

Government

News

Health Care

General

BRKR

TSX:CEMI

CODX

EXAS

TSX:FLDM

HOLX

Laboratory Corporation Of America Holdings

LMDX

OSUR

QDEL

QGEN

RHHBF

RHHBY

RHHVF

TWST

In response to the escalating spread of the virus nationwide, the Biden administration declared that it would recommence offering free at-home COVID tests to American households starting next Monday.

Biden Administration Restarts Distribution Of Free At Home COVID-19 Tests, After Suspending For Year

Earnings

Penny Stocks

Small Cap

Pre-Market Outlook

Markets

Trading Ideas

BLBD

SANM

With US stock futures trading higher this morning on Friday, some of the stocks that may grab investor focus today are as follows:


Spectrum Brands, Sanmina And 3 Stocks To Watch Heading Into Friday

CEMI

LHDX

FDA To Review Smaller Number Of Emergency Use Requests For COVID-19 Tests

Co-Diagnostics Inc

Eaton Vance Massachusetts Municipal Income Trust

MultiMetaVerse Holdings Receives Nasdaq Notification Regarding Minimum Bid Price And Minimum Market Value Of Listed Securities

WIIM

AGBA

AGBA Group shares are trading higher on continued upward momentum after the company on Friday announced it entered into a definitive merger agreement with Triller.

TLSA

Tiziana Life Sciences shares are trading higher after the company announced FDA allowance for additoinal patients to be enrolled in an intranasal foralumab multiple sclerosis expanded access program.

Benchmark analyst Cody Acree initiates coverage on Qualcomm (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/QCOM#NASDAQ">QCOM</a>) with a Buy rating and announces Price Target of $200.

Price Target

Initiation

Analyst Ratings

QCOM

Benchmark Initiates Coverage On Qualcomm with Buy Rating, Announces Price Target of $200

HNRA

HNR Acquisition Corp Announces Notice Of Failure To Satisfy Continued Listing Rule Or Standard

JP Morgan analyst Tyler Langton downgrades MP Materials (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MP#NYSE">MP</a>) from Overweight to Neutral and announces $16 price target.

Downgrades

JP Morgan Downgrades MP Materials to Neutral, Announces $16 Price Target

BRAND REACHES 1 MILLION ACRES COMMITMENT TO INFLUENCE&nbsp; THE REGENERATIVE AGRICULTURE MOVEMENT

DECK

Deckers Brands Division, Ugg, Achieves Regenerative Agriculture Milestone

Plug Power, Inc.(NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PLUG#NASDAQ">PLUG</a>) shares are&nbsp;<a target="_blank" href="https://www.benzinga.com/premarket" rel="noreferrer noopener">trading higher in the premarket session on Tuesday.</a>
In a press release, the company said&nbsp;it&nbsp;reached nameplate capacity at its&nbsp;<a target="_blank" href="https://www.benzinga.com/pressreleases/24/04/g38374996/plug-continues-to-make-substantial-advancement-in-hydrogen-generation-buildout" rel="noreferrer noopener">hydrogen plants in Georgia and Tennessee</a>.&nbsp;
With this increased supply from the hydrogen production network, Plug Power will benefit from a lower cost of hydrogen to achieve profitable growth.
Louisiana is on track to achieve mechanical completion by&nbsp;end&nbsp;of the third quarter of 2024, Plug Power said. The company&#8217;s Louisiana plant (Joint venture with&nbsp;Olin Corporation&nbsp;(NYSE: <a class="ticker" href="https://www.benzinga.com/stock/oln#NYSE">OLN</a>))&nbsp;is projected&nbsp;to add 15 TPD of liquid green hydrogen to Plug Power&#8217;s North American network by the end of&nbsp;the third quarter.
With the addition of the Louisiana plant, Plug Power will have 40 TPD of internal production capacity, meeting&nbsp;the majority&nbsp;of its customer&#8217;s demand.
Under the latest development, the company&#8217;s first green hydrogen plant in Georgia is already reaching a nameplate capacity of 15 tons per day (TPD) of liquid hydrogen production, marking a significant milestone for Plug Power&#8217;s hydrogen network and the hydrogen economy in the U.S.
As a part of the company&#8217;s efforts to restructure the business model, Plug Power implemented price increases across all its offerings, including equipment, service, and fuel.&nbsp;
Price Action: PLUG shares are trading higher by 4.38% to $2.599 premarket at the last check Tuesday. 
Photo via Shutterstock

Equities

Movers

PLUG

What's Going On With Plug Power Shares Tuesday?

Piper Sandler analyst Andrew Liesch maintains Equity Bancshares (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/EQBK#NYSE">EQBK</a>) with a Overweight and raises the price target from $37 to $38.

EQBK

Piper Sandler Maintains Overweight on Equity Bancshares, Raises Price Target to $38

Collaboration with leading telemedicine provider to offer marketing and distribution of STENDRA for Lemonaid Health's ED patients

Biotech

PTPI

Petros Pharmaceuticals Expands Online Distribution For Prescription STENDRA Through New Agreement With Lemonaid Health

DASH

DoorDash Announced Service With Wakefern Food And Its Customers Can Now Order Groceries And Daily Essentials On DoorDash From Several Retail Locations

Heartland Express (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/HTLD#NASDAQ">HTLD</a>) reported quarterly losses of $(0.19) per share which missed the analyst consensus estimate of $(0.09) by 111.11 percent. The company reported quarterly sales of $270.320 million which beat the analyst consensus estimate of $265.000 million by 2.01 percent. This is a 18.31 percent decrease over sales of $330.916 million the same period last year.

Earnings Beats

Earnings Misses

HTLD

Heartland Express Q1 2024 GAAP EPS $(0.19) Misses $(0.09) Estimate, Sales $270.320M Beat $265.000M Estimate

<ul>
<li>More than 18 contractual actions resulting in approximately $22.7 million in contract value
<ul>
<li>Approximately $1.0 million in commercial contracts</li>
<li>Approximately $21.7 million in government contracts</li>
</ul>
</li>
<li>Numerous federal contracts including: the U.S. Department of Homeland Security, U.S. Customs and Border Protection, the National Science Foundation and the Transportation Security Administration</li>
<li>Renewals and new orders for WidePoint's IAM offerings including university, aerospace and defense organizations</li>
<li>Multi-year Managed Services contracts with leading financial and bottling enterprises</li>
</ul>

Contracts

WidePoint Awarded $22.7M In Tech And Cyber Security Services Contracts During Q1 2024

<a href="https://www.sec.gov/ix?doc=/Archives/edgar/data/867773/000086777324000047/spwr-20240417.htm" title="https://www.sec.gov/ix?doc=/Archives/edgar/data/867773/000086777324000047/spwr-20240417.htm">https://www.sec.gov/ix?doc=/Archives/edgar/data/867773/000086777324000047/spwr-20240417.htm</a>

SPWR

SunPower's Audit Committee Concluded That Audited And Unaudited Financial Statements From 2022 And Q1-Q3 2023, Reported To SEC On December 18, 2023, In Various Forms, Are Unreliable And Will Be Restated; Not Fully Completed Its Review, And Expected Financial Impact Of Errors Prelim. And Subject To Change; Cannot Provide Assurance That Other Errors Will Not Be Identified

Post-spin-off&nbsp;GE Aerospace&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GE#NYSE">GE</a>)&nbsp;<a target="_blank" href="https://www.geaerospace.com/investor-relations?_gl=1&#x2A;5tipyc&#x2A;_ga&#x2A;MTE0MzE2MjM0NC4xNzEzODc0NDIy&#x2A;_ga_M2Q4NS0CLZ&#x2A;MTcxMzg3NDQyMi4xLjEuMTcxMzg3NDQzNy40NS4wLjA.&amp;_ga=2.110884301.939570466.1713874422-1143162344.1713874422" rel="noreferrer noopener">reported&nbsp;</a>first-quarter 2024 adjusted revenue growth&nbsp;of 15% year-over-year to $8.1 billion, with orders up 34% YoY to $11 billion.
The company reported increased orders in Commercial Engines &amp; Services and Defense &amp; Propulsion Technologies, with revenue growth driven by pricing, spare parts volume, and higher deliveries in widebody and defense sectors.
Consolidated revenue (including GE Aerospace and&nbsp;GE Vernova Inc.&nbsp;(NYSE: <a class="ticker" href="https://www.benzinga.com/stock/gev#NYSE">GEV</a>)) grew 11% YoY to $16.1 billion and&nbsp;on&nbsp;an adjusted basis, +10% YoY to $15.2 billion. Total orders increased 14% to $20.1 billion.
Adjusted EPS for the consolidated company was $0.82, up from $0.27 a year ago.
GE completed the <a href="https://www.benzinga.com/markets/equities/24/04/38047348/whats-going-on-with-ge-aerospace-ge-vernova-stock-today">separation of GE Vernova</a> on April 2 and received proceeds of $2.6 billion from the monetization of a portion of its shares in GE HealthCare Technologies Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GEHC#NASDAQ">GEHC</a>).
GE Aerospace&#8217;s profit margin expanded 140 bps to 19.1%, and the consolidated adjusted profit margin stood at 10.2%, up 380 bps.
GE repurchased ~1.1 million shares for $0.1 billion in the quarter under a previously authorized $3 billion&nbsp;share&nbsp;repurchase program.
&#8220;Given our solid start to the year and outlook for the remainder of 2024, we are raising our full-year profit and free cash flow guidance. Moving forward as a focused global aerospace leader, we will continue to prioritize safety, quality, delivery, and cost — always in that order —while also investing in our future and driving long term profitable growth,&#8221; commented GE Aerospace Chairman and CEO H. Lawrence Culp.
Consolidated cash from operating activities was $1 billion for the quarter versus $0.2 billion a year ago. Free cash flow stood at $0.9 billion, up from the prior $0.1 billion a year ago.
GE Aerospace&#8217;s free cash flow for the quarter was $1.7 billion versus $0.8 billion in last year&#8217;s&nbsp;same&nbsp;quarter.
GE Aerospace 2024 Guidance:&nbsp;GE continues to expect adjusted revenue growth in low double digits; now sees&nbsp;operating&nbsp;profit of $6.2 billion-$6.6 billion (prior $6.0 billion-$6.5 billion).
The company expects adjusted EPS of $3.80-$4.05 (consensus $3.94) and <a href="https://www.benzinga.com/calendars/guidance">Free Cash Flow to be >$5B, >100% conversion.</a>
Price Action:&nbsp;GE shares are trading higher by 4.4% at $156.80 premarket at&nbsp;the last check Tuesday.

Guidance

GEHC

Why Is GE Aerospace Stock Trading Higher Today?

Shares of steelmakers Cleveland-Cliffs Inc (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CLF#NYSE">CLF</a>) and Nucor Corp (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/NUE#NYSE">NUE</a>) are moving lower Tuesday on the heels of the companies&#8217; first-quarter financial results. Here&#8217;s what <a href="https://www.benzinga.com/news/earnings/24/04/38365860/nucor-shares-fall-after-worse-than-expected-q1-results">you need to know</a>.
What Happened With CLF: After the market close on Monday, Cleveland-Cliffs reported first-quarter revenue of $5.2 billion, which missed the <a href="https://www.benzinga.com/calendars/earnings" target="_blank" rel="noreferrer noopener">consensus estimate</a> of $5.346 billion, according to <a href="https://benzinga.grsm.io/gxjhpowx7zks" target="_blank" rel="noreferrer noopener">Benzinga Pro</a>. The company reported adjusted earnings of 18 cents per share, which missed analyst estimates of 22 cents per share. Steel shipments came in at 3.9 million net tons in the first quarter.
Cleveland-Cliffs noted it repurchased 30.4 million shares in the first quarter. The company's board also authorized a new share repurchase program of up to $1.5 billion.
Cleveland-Cliffs maintained all of its previous guidance for full-year 2024. The company still expects full-year steel shipments of 16.5 million net tons and year-over-year steel unit cost reductions of approximately $30 per net ton.
What Happened With NUE: Nucor also reported <a href="https://www.benzinga.com/news/earnings/24/04/38365860/nucor-shares-fall-after-worse-than-expected-q1-results">first-quarter financial results</a> after the market close on Monday. The company reported revenue of $8.14 billion, which missed estimates of $8.26 billion, according to <a href="http://pro.benzinga.com">Benzinga Pro</a>. Nucor reported quarterly earnings of $3.46 per share, which missed estimates of $3.65 per share. Steel shipments totaled 6.22 million net tons in the fourth quarter. 
Nucor said it repurchased approximately 5.5 million shares of its common stock in the first quarter. The company&#8217;s board also declared a cash dividend of 54 cents per share, payable on May 10 to shareholders of record as of March 28. 
Nucor expects earnings in the second quarter to decrease compared to the first quarter. The largest driver for the expected decrease in earnings is the decreased earnings of the steel mills segment, primarily due to lower average selling prices partially offset by modestly increased volumes. 
Cleveland-Cliffs will hold a conference call at 8:30 a.m. and Nucor is scheduled to hold its call at 10:00 a.m. Et.
See Also: <a href="https://www.benzinga.com/general/biotech/24/04/38377536/novartis-stock-gains-on-european-drugmakers-q1-earnings-surprise-lifts-annual-outlook">Novartis Stock Gains On European Drugmaker&#8217;s Q1 Earnings Surprise, Lifts Annual Outlook</a>
CLF, NUE Price Action: At publication time, Cleveland-Cliffs shares were down 2.4% at $20.35, while Nucor shares were down 6.75% at $178.70, per <a href="http://pro.benzinga.com">Benzinga Pro</a>. 
Photo: BildWerk on Shutterstock

Cleveland-Cliffs, Nucor Shares Are Sliding Tuesday: What's Going On?

Affirm Holdings Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AFRM#NASDAQ">AFRM</a>) shares are trading lower Tuesday following a report indicating Walmart Inc&#8217;s (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/WMT#NYSE">WMT</a>) majority-owned startup One has started offering <a href="https://www.benzinga.com/topic/buy-now-pay-later">buy now, pay later services</a>.
What To Know: According to a CNBC <a href="https://www.cnbc.com/2024/04/23/walmart-backed-fintech-one-introduces-buy-now-pay-later.html">report</a>, Walmart-backed fintech startup One has begun offering buy now, pay later options for big-ticket items in some of its U.S. stores. 
One is a direct competitor of buy now, pay later market leader Affirm, which has been the exclusive provider of installment loan services for Walmart customers since 2019. Late last year, Walmart even expanded its agreement with Affirm to add new payment options at self-checkout kiosks at more than 4,500 U.S. stores. 
CNBC visited a Walmart location in New Jersey and found that both One and Affirm were available payment options at checkout. Loans from either provider were available for purchases above about $100 in electronics, jewelry, power tools, automotive accessories and more. Groceries, alcohol and weapons purchases were not eligible for loans from either company. 
The report indicates that buy now, pay later drove approximately $19.2 billion in online spending in the first quarter of 2024, up 12% on a year-over-year basis. 
Affirm is due to report quarterly earnings on May 8. The company is expected to report a loss of 69 cents per share and revenue of $549.416 billion, per estimates from <a href="http://pro.benzinga.com">Benzinga Pro</a>. 
Check This Out: <a href="https://www.benzinga.com/news/earnings/24/04/38377741/music-giant-spotifys-q1-surprise-investors-cheer-premium-subscriber-growth-and-profit-bump">Music Giant Spotify&#8217;s Q1 Surprise: Investors Cheer Premium Subscriber Growth And Profit Bump</a>
AFRM Price Action: Affirm shares were down 7.93% at $29.34 at the time of publication, according to <a href="http://pro.benzinga.com">Benzinga Pro</a>.
Photo: courtesy of Walmart.

AFRM

Affirm Stock Drops As Walmart Rolls Out New Payment Options: The Details

AVAV

AV Unveils New AI Capability And Autonomy Kit For Unmanned Systems

Keefe, Bruyette &amp; Woods analyst Timothy Switzer reiterates Northwest Bancshares (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NWBI#NASDAQ">NWBI</a>) with a Market Perform and lowers the price target from $13 to $12.

Reiteration

NWBI

Keefe, Bruyette & Woods Reiterates Market Perform on Northwest Bancshares, Lowers Price Target to $12

BETR

Better Home & Finance Announces The Launch Of Better Home Equity Loan To Homeowners Interested In Accessing Home Equity As Cash

Co-Diagnostics, Inc. (CODX) Q4 2023 Earnings Call Transcript

Yi Chen, an analyst from H.C. Wainwright, reiterated the Hold rating on Co-Diagnostics (CODX – Research Report). The associated price target is $2....

Maintaining Hold on Co-Diagnostics Amid Revenue Decline and Potential EUA Boost

<a href="https://investorplace.com">InvestorPlace - Stock Market News, Stock Advice &amp; Trading Tips</a>
Co-Diagnostics (NASDAQ:<a href="https://investorplace.com/stock-quotes/codx-stock-quote/">CODX</a>) just reported results for the fourth quarter of 2023.<ul><li>Co-Diagnostics reported earnings per share of -50 cents. This was below the analyst estimate for EPS of -20 cents.</li><li>The company reported revenue of $3.56 million.</li><li>This was 1.80% worse than the analyst estimate for revenue of $3.62 million.</li></ul><div>InvestorPlace Earnings is a project that leverages data from <a href="https://www.tradesmith.com">TradeSmith</a> to automate coverage of quarterly earnings reports. InvestorPlace Earnings distills key takeaways including earnings per share and revenue, as well as how a company stacks up to analyst estimates. These articles are published without human intervention, allowing us to inform our readers of the latest figures as quickly as possible. To report any concerns or inaccuracies, please contact us at <a href="mailto:editor@investorplace.com">editor@investorplace.com</a>.</div><h3>More From InvestorPlace</h3>
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	The post <a href="https://investorplace.com/earning-results/2024/03/codx-stock-earnings-co-diagnostics-for-q4-of-2023/">CODX Stock Earnings: Co-Diagnostics Misses EPS, Misses Revenue for Q4 2023</a> appeared first on <a href="https://investorplace.com">InvestorPlace</a>.

CODX Stock Earnings: Co-Diagnostics Misses EPS, Misses Revenue for Q4 2023

Friday, March 15, 2024 - Co-Diagnostics Inc (CODX) reported downside earnings and revenues today.The consensus among analysts for Co-Diagnostics Inc was for an earnings per share (EPS) loss of $0.20 per share. The firm failed to meet those projections, reporting an EPS loss of $0.50 per share, a negative surprise of $0.3 (

Co-Diagnostics Inc Down 9.24% To $1.08 After Earnings Miss

An update from Co-Diagnostics Inc (CODX) is now available. Co-Diagnostics, Inc. has appointed Richard Abbott, a seasoned executive with a strong ba...

Co-Diagnostics Inc Welcomes Richard Abbott as New President

Co-Diagnostics Inc (CODX) has fallen Monday morning, with the stock falling -6.78% in pre-market trading to 1.1. CODX's short-term technical score of 14 indicates that the stock has traded less bullishly over the last month than 86% of stocks on the market. In the Medical Devices industry, which ranks 119 out of 146 indust

Co-Diagnostics Inc (CODX) Down 6.78% in Premarket Trading

Opinion

Press Releases

Thinking about buying stock in ATIF Holdings, SoundHound AI, Halliburton, Moderna, or Co-Diagnostics?

Co-Diagnostics, Inc. Shares List of Upcoming Industry Conferences and Events for February 2024

Co-Diagnostics, Inc. Announces Fourth Quarter and Full Year 2023 Earnings Release Date and Webcast

Co-Diagnostics, Inc. JV CoSara Receives Clearance from Indian Regulators for Influenza Multiplex PCR Test

Co-Diagnostics, Inc. Reports Full Year 2023 Financial Results

Co-Diagnostics, Inc. CEO to Deliver Keynote Address at MarketsandMarkets 2024 in London, England

Co-Diagnostics, Inc. CEO Delivers Manufacturing and Commercialization Update in Conference Keynote Address

Co-Diagnostics, Inc. Appoints New President and Other C-Level Positions

Co-Diagnostics, Inc. Inaugurates New Manufacturing Facility in Utah with Ribbon Cutting Event