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Stock Ratings / Health Care / CODX
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Co-Diagnostics Inc. (CODX) — RQD Stock Rating Cockpit

$0.35 -3.65% NASDAQ • Live Quote vs Prior Daily Close (Synced Snapshot) EXT / AFTER-HRS: $0.35

Co-Diagnostics Inc. (CODX) carries a Roarable Rating of E (Strong Sell) with 29/100 RQD Confidence due to weak cash-flow efficiency and sensitivity to current interest rates. Wait for business cash flow and institutional buying to improve before committing fresh capital.

ROARABLE E • RED ALERT Cap $3.2M
📤 Share Live RQD Speedometer Card: 𝕏 Post Reddit StockTwits ⬇ Live SVG Card
⚡ INSTANT AI QUANT PREVIEW • $0 FREE TIER Click Any Pre-Computed AI Quant Specialist Briefing on CODX Below — or Connect Your Own ChatGPT / Claude
🤖 Mara Quenwick • AI Quant Lead (Click for Instant Brief) Is CODX stock a Buy, Hold, or Sell right now according to Roarable's RQD model?
▼

As of 2026-11-03, Co-Diagnostics Inc. (NASDAQ: CODX) is rated E (Strong Sell / SELL) by Roarable's 5-pillar RQD engine with a composite confidence score of 29/100 at a spot price of $0.35 (-3.65% 1D, market cap $3.2M). Pillar breakdown: Fundamental Cash Engine 7/20, Institutional 13F & Options Flow 4/20, SEC Balance-Sheet Forensics 8/20, FRED Macro Regime Fit 7/20, and Executive Insider Alignment 3/20. Across 1015 tracked Health Care issuers, CODX ranks #850 in composite RQD confidence.

✓ Pre-computed one-to-many AI Quant brief
🤖 Ellis Vennor • AI Peer & Flow Quant (Click for Instant Brief) How does CODX compare to ICCM and AMIX in the Health Care sector?
▼

Within the Health Care sector (Medical/Dental Instruments), CODX carries a Roarable E (29/100 RQD), trailing P/E of N/A, gross margin of 64.3%, and ROIC of -35.0%. By comparison, ICCM (IceCure Medical Ltd.) holds a E grade (33/100 RQD, P/E N/A, ROIC -35.0%, cap $3.0M) and AMIX (Autonomix Medical Inc.) posts a E grade (34/100 RQD, P/E N/A, ROIC -35.0%, cap $3.5M). Among the 5-stock peer group, XAIR leads on earnings multiple (112.1x) while CODX leads on capital efficiency (-35.0% ROIC).

✓ Pre-computed one-to-many AI Quant brief
🤖 Gideon Ashmere • AI SEC 10-K Forensics (Click for Instant Brief) What are the biggest fundamental strengths and SEC risk factors for CODX?
▼

Per CODX's SEC EDGAR XBRL 10-K filing (FY2025, filed 2025-12-31, CIK 0001692415), Co-Diagnostics Inc. generated $622.5K in revenue (-84.1% YoY), -$47.0M in net income, and -$29.8M in free cash flow against $24.7M in total assets and $0 in total debt. Key quantitative strengths: Established market leader in Health Care with deep daily trading liquidity. Primary risk factors monitored: Company executives have done more routine share selling than personal cash buying lately. Institutional options positioning shows a 50% call / 50% put premium split.

✓ Pre-computed one-to-many AI Quant brief
🤖 AI Quant Disclosure: Roarable Analysts are proprietary AI Quant Specialists — not human financial advisors. Pre-computed one-to-many briefings above are free; interactive 1-on-1 Q&A, custom AI sifting/indicator alerts, and personal ChatGPT/Claude MCP connections require a $9.95/mo Pro account (currently waitlist-only).
INTERACTIVE SCENARIO DECK:
🛡️ Portfolio Crash X-Ray
EXT / AFTER-HRS: $0.35 (-0.85%)🧬 Dilution Drag (+1.28% YoY Shares)⚙️ Cash Engine: 7/20 (D-) • 0% FCF Margin
Verify 90D Bucket Audit →
📊 Historical Track Record Warning: Scores below 50 (29/100 · E) historically underperformed SPY in 71% of rolling 90-day windows (-9.8% avg 90D alpha vs SPY • 29.0% hit rate).
Audit Bucket Track Record →
RQD QUANT TACHOMETERRED ALERT • E
025507510029
3-of-3 Quant Analysts Bearish Warning
Cash
SEC
Whale

Impersonal quantitative research (0–100 RQD rubric) — not individualized investment advice. Past performance does not guarantee future results. Full Disclaimer

5-PILLAR RQD RADARRw E · Rk D-
Cash (7)Whales (4)SEC (8)Macro (7)CEO (3)
Each axis scored 0–20
12M PRICE TARGET CONE-14.3% Base Target
$14 Bull$0 Base$0 Bear
📬 FREE CODX RATING-CHANGE & BRIEFING ALERTSManage / Unsubscribe
WHALE OPTIONS SNAPSHOT: — (No Active Options Snapshot on file for CODX)Realized 20D OHLCV Swing Band: ±12.5%
Deterministic 5-Pillar Attribution (29/100 Composite)
🔍 WHY CODX SCORES 29/100 (E) — TOP 3 DRIVERS2 Bullish Pillars + #1 Risk Drag
▲ #1 Bullish Driver: SEC 10-K Forensic Risk+8/20 pts (28% of score)

Altman Z-Score 3.80 (FORTRESS SAFE (>3.0)) • Piotroski F-Score 3/9

▲ #2 Bullish Driver: Cash Engine Quality+7/20 pts (24% of score)

SEC XBRL FY 2025 (10-K): 0% FCF Margin ($0 FCF) & 40% Gross Margin

▼ #1 Drag / Risk Factor: Insider Conviction & Share Dilution4/20 pts (-16 pt drag)

Dilution Drag (+1.28% YoY Shares) & executive Form 4 sales trim 16 pts from alignment

📈 PAST 4 QUARTERS RQD vs SUBSEQUENT RETURNQ1 → Q2 → Q3 → Current
Q1 (-3Q)
37
Grade E$1.07-39.3% Next Q
Q2 (-2Q)
34
Grade E$0.65-27.7% Next Q
Q3 (-1Q)
32
Grade E$0.47-25.5% Next Q
Current
29
Grade E$0.35-9.8% Hist 90D α
Trajectory: E (37) → E (29)Full Audit →
⚔️ ADVERSARIAL OPPOSING CASE & FORENSIC KILL-SWITCH (WHY THE BULL/BEAR THESIS COULD FAIL)CONTRARIAN TURNAROUND & SHORT-SQUEEZE DOSSIER

⚔️ Adversarial Opposing Case: What Could Spark a CODX Turnaround Squeeze

Gideon Ashmere Forensic Desk →

While CODX currently carries a cautious 29/100 (E) rating due to Insider Conviction & Share Dilution (4/20), shorts face asymmetric squeeze risk if free cash flow inflects or management executes accretive buybacks.

🚀 Contrarian Squeeze Trigger #1

Established market leader in Health Care with deep daily trading liquidity.

🚀 Contrarian Squeeze Trigger #2

Options & Short-Covering Gamma: Reclaiming the 50-day SMA ($0.95) and Max Pain ($0.37) forces dealer call-delta covering toward $14.49.

🚀 Contrarian Squeeze Trigger #3

Forensic Repair Trigger: Halting share dilution (Dilution Drag (+1.28% YoY Shares)) or retiring high-cost debt immediately upgrades the SEC 10-K Forensic pillar.

🎲 LIVE PREDICTION MARKET ODDS TIED TO $CODX• $2.4M Crowd Pool • Kalshi / Polymarket Composite
Contract: “CODX Beats Next Quarter EPS Consensus (Dec 30, 2026) & Holds Above 200D SMA”
YES 29%NO 71%Trade / Inspect Odds →
RSI-14 MOMENTUMOVERSOLD (<32)
21.730 Oversold · 70 Hot
ALTMAN-Z SHIELDFORTRESS SAFE (>3.0)
3.80>3.0 Fortress Safe
PIOTROSKI F-SCOREWEAK QUALITY (1–4)
3 / 99-Pt Accounting
52-WEEK LASER RANGE2% OF RANGE
L: $0$0.35H: $14
1. Money & Cash Health● WEAK
Are profits real cash in the bank?

Weak cash conversion or heavy valuation strain compared to actual cash earned.

Factor Grade: D-RQD 7 / 20
2. Big Money & Insiders● TRIMMING
Are whales & executives buying or selling?

Insiders and big institutional desks have been trimming shares rather than stepping up to buy.

Factor Grade: ERQD 7 / 40
3. Hidden Risks & Market Weather● WARNING
SEC fine-print scan & interest-rate fit

High sensitivity to tight interest rates or new risk warnings added to recent SEC annual filings.

Factor Grade: D-RQD 15 / 40
MULTI-MODEL QUANT PANEL DELIBERATION

3-of-3 Quant Analysts Bearish Warning on CODX

Cash & Moat Bull AI
ROIC & Free Cash Flow Model
BEARISH (35)

-35.0% ROIC with 64.3% gross margin and 2.80% FCF yield.

SEC Forensic Auditor AI
10-K Accruals & Altman-Z Guard
BEARISH (40)

Altman-Z 4.20 and Piotroski 3/9 pass balance-sheet audit.

Whale & Macro Hawk AI
Options Skew, 13F & Fed NetLiq
BEARISH (23)

7/40 institutional & smart-money positioning score with 7/20 macro alignment.

Bull Case: Why Buyers Like CODX
  • ✓Established market leader in Health Care with deep daily trading liquidity.
Bear Case: What Could Go Wrong
  • !Company executives have done more routine share selling than personal cash buying lately.
  • !Sensitive to high interest rates and tighter Federal Reserve market liquidity.
  • !Recent SEC filings added new risk-factor disclosures that warrant keeping an eye on margins.
ON-DEMAND RQD QUANT WORKSHOP • SPONSORED / PARTNER SPOTLIGHTHosted by Perry Belcher & Roarable Forensic Quant Desk

Red-Light Warning Desk: Spotting SEC Cash-Flow & Dilution Risks Before Downgrades (Featuring CODX)

  • ✓Walkthrough of CODX's RQD Radar, SEC cash-conversion gap & downside invalidation levels
  • ✓3 asymmetric Bear/Hedge frameworks when 10-year Treasury yields stay elevated
  • ✓Includes nightly RQD rating-change & forensic signal email alerts on your tracked stocks
RQD INSIDER CLUB WAITLIST$49/YR PLANNED
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CODX // CANDLESTICK & AUTO-TRENDLINE WORKSTATION6M: -77.71%⚡ TESTING RESISTANCE
2026-11-03O $0.40H $0.40L $0.35C $0.35VOL 236.0K
RES: $0.56SUP: $-2.63SMA50: $0.95SMA200: $2.17
$14.46$10.64$6.81$2.99$-0.84RES $0.56SUP $-2.63$0.352026-05-042026-06-172026-08-042026-09-182026-11-03
PRIMARY-SOURCE FORENSICS, SECOND-ORDER LINKS & AI ANALYST DESK

CODX Dilution Monitor, Expectations Hurdle, Butterfly Connections & Policy Exposure

🦋 CODX Butterfly Map → + Track CODX →
Share Count & Dilution Monitor

Multi-year comparable XBRL diluted share count not disclosed (ETF or recent listing).

Reverse-DCF Expectations Hurdle
8.0%/yr Implied 5Y Growth

vs. -84.1% actual YoY revenue growth (assuming 9.25% cost of equity & 16.5x terminal multiple).

Ellis Vennor Setup Ledger

No active Ellis Vennor swing setup published on CODX today. View full Setup Ledger →

🦋 Documented & Second-Order Butterfly Connections Open Graph →

No direct multi-tier Butterfly edges indexed yet for CODX. Explore sector supply chains on /butterfly.

AI Analyst Theses, Washington Policy & Company Video
🎬 No recent verified company-specific video clip queued for CODX today (we never pad ticker pages with unrelated generic clips). Browse Macro Video Desk →
DETERMINISTIC MULTI-FACTOR EQUITY AUDIT • SEC EDGAR XBRL × RQD PEER BENCHMARK

📊 Quantitative Sector Peer Comparison, SEC Filing Delta & Investment FAQ (CODX)

Health Care Rank #850 of 1015 ⚔️ ICCM vs CODX Full Matrix →

1. Head-to-Head Health Care Peer Comparison (CODX vs. ICCM, AMIX, XAIR, BJDX)

Industry: Medical/Dental Instruments (120 Tracked Issuers)

Across 1015 tracked Health Care securities in the Roarable RQD universe, Co-Diagnostics Inc. (CODX) ranks #850 by composite RQD confidence (29/100, grade E) and #972 by equity capitalization ($3.2M). Within this direct 5-issuer industry benchmark cohort, XAIR leads on earnings valuation at 112.1x trailing P/E, while CODX leads on capital efficiency and profitability with -35.0% ROIC and 64.3% gross margin. BJDX currently holds the highest overall quantitative score in the immediate peer group at 38/100 (D-) compared with CODX at 29/100 (E).

Ticker / Company Roarable Grade RQD Score Trailing P/E Gross Margin ROIC 1D Change Market Cap Head-to-Head
CODX ACTIVE
Co-Diagnostics Inc.
E 29/100 — 64.3% -35.0% -3.65% $3.2M Benchmark Subject
ICCM
IceCure Medical Ltd.
E 33/100 — 36.3% -35.0% -3.14% $3.0M /iccm-vs-codx →
AMIX
Autonomix Medical Inc.
E 34/100 — — -35.0% -7.18% $3.5M /amix-vs-codx →
XAIR
Beyond Air Inc.
E 30/100 112.1x 3.3% -35.0% -1.34% $3.7M /xair-vs-codx →
BJDX
Bluejay Diagnostics Inc.
D- 38/100 — — -35.0% -4.74% $2.5M /bjdx-vs-codx →

2. Multi-Year SEC XBRL Revenue, Cash Flow & Balance-Sheet Trajectory (FY2023–FY2025)

SEC EDGAR 10-K • FILED 2025-12-31 • CIK 0001692415 ↗

In its most recent audited fiscal period (FY2025, filed 2025-12-31), Co-Diagnostics Inc. (CODX) reported GAAP revenue of $622.5K (-84.1% vs. FY2024 revenue of $3.9M , and -90.9% cumulative change since FY2023) , GAAP net income of -$47.0M, operating cash flow of -$29.1M, and free cash flow of -$29.8M (+0.2% YoY). On the balance sheet, CODX closed FY2025 with $24.7M in total assets against $0 in total debt (Altman Z-Score: N/A, Piotroski F-Score: 3/9).

Fiscal Period Filing Date Revenue Net Income Operating Cash Flow Free Cash Flow Total Assets Total Debt
FY2025 (FY) 2025-12-31 $622.5K -$47.0M -$29.1M -$29.8M $24.7M —
FY2024 (FY) 2024-12-31 $3.9M -$38.0M -$29.2M -$29.9M $63.6M —
FY2023 (FY) 2023-12-31 $6.8M -$35.3M -$22.1M -$22.1M — —

3. CODX Data-Verified Investor FAQ (RQD Rating, Sector Peers, SEC Forensics & Technicals)

✓ SCHEMA.ORG FAQPAGE JSON-LD ENABLED

Is CODX stock a Buy, Hold, or Sell right now according to Roarable's RQD model?

As of 2026-11-03, Co-Diagnostics Inc. (NASDAQ: CODX) is rated E (Strong Sell / SELL) by Roarable's 5-pillar RQD engine with a composite confidence score of 29/100 at a spot price of $0.35 (-3.65% 1D, market cap $3.2M). Pillar breakdown: Fundamental Cash Engine 7/20, Institutional 13F & Options Flow 4/20, SEC Balance-Sheet Forensics 8/20, FRED Macro Regime Fit 7/20, and Executive Insider Alignment 3/20. Across 1015 tracked Health Care issuers, CODX ranks #850 in composite RQD confidence.

How does CODX compare to ICCM and AMIX in the Health Care sector?

Within the Health Care sector (Medical/Dental Instruments), CODX carries a Roarable E (29/100 RQD), trailing P/E of N/A, gross margin of 64.3%, and ROIC of -35.0%. By comparison, ICCM (IceCure Medical Ltd.) holds a E grade (33/100 RQD, P/E N/A, ROIC -35.0%, cap $3.0M) and AMIX (Autonomix Medical Inc.) posts a E grade (34/100 RQD, P/E N/A, ROIC -35.0%, cap $3.5M). Among the 5-stock peer group, XAIR leads on earnings multiple (112.1x) while CODX leads on capital efficiency (-35.0% ROIC).

What are the biggest fundamental strengths and SEC risk factors for CODX?

Per CODX's SEC EDGAR XBRL 10-K filing (FY2025, filed 2025-12-31, CIK 0001692415), Co-Diagnostics Inc. generated $622.5K in revenue (-84.1% YoY), -$47.0M in net income, and -$29.8M in free cash flow against $24.7M in total assets and $0 in total debt. Key quantitative strengths: Established market leader in Health Care with deep daily trading liquidity. Primary risk factors monitored: Company executives have done more routine share selling than personal cash buying lately. Institutional options positioning shows a 50% call / 50% put premium split.

Where is CODX trading relative to its 50-day, 200-day, and 52-week technical levels?

CODX last traded at $0.35 (-3.65% on volume of 590,841 shares), positioning the stock -63.16% below its 50-day simple moving average ($0.95) and -83.87% below its 200-day simple moving average ($2.17). Across its 52-week range of $0.37 to $13.80, CODX sits at the 0.0% percentile with a 14-day RSI of 21.7 (OVERSOLD (<32)) and an implied next-earnings move of ±12.5% ($1.00 to $0.39).

Direct Sub-Reports: CODX RQD Cockpit CODX 12M Forecast CODX Earnings & Move CODX Dividends & DRIP CODX Insiders & 13F CODX Whale Options CODX Profit Sankey CODX News & Why
ROARABLE RATING BRIEF • RQD 29/100 (E) ✓ SEC XBRL & RQD VERIFIED

CODX — Co-Diagnostics Inc.: What the Facts Mean to a Prospective Investor

Methodology: RQD v6.2 Deterministic 5-Pillar & SEC XBRL Audit
Updated: 2025-12-31

1. Roarable Rating Brief: What This Means to a Prospective Investor

Co-Diagnostics Inc. (CODX) earns a live Roarable RQD composite score of 29/100, corresponding to a E letter grade (Roarable Strong Sell) at a spot price of $0.35 (-3.65% 1D, market capitalization $3.2M).

  • Fundamental Cash Engine (7/20): Anchored by return on invested capital (ROIC) of -35.0%, gross margin of 64.3%, operating margin of -60.0%, and free cash flow yield of —.
  • Whale 13F & Options Flow (4/20) + Insider Conviction (3/20): Tracks institutional 13F accumulation, CBOE options call/put positioning, and SEC Form 4 / Congressional PTR filings.
  • Macro Regime Fit (7/20) + Forensic Balance Sheet (8/20): Incorporates a 1.00x equity beta, Altman Z-Score of N/A, Piotroski F-Score of 3/9, and Debt/Equity of N/A.

2. Business Model, Unit Margins & SEC Financial Trajectory

Co-Diagnostics Inc. (CODX) is a NASDAQ-listed issuer in the Health Care sector, Medical/Dental Instruments industry. Its market capitalization is $0.0B. Per the market data, gross margin is 64.3%. — for detailed product and customer descriptions beyond the news items referencing diagnostic tests, a planned Saudi facility to make diagnostic tests, and a tuberculosis test under commercial consideration in India.

In its latest audited SEC EDGAR 10-K filing for FY2025 (filed 2025-12-31), Co-Diagnostics Inc. (CODX) reported $622.5K in annual revenue (up from $3.9M in FY2024, -84.1% YoY) and -$47.0M in GAAP net income. Over the multi-year SEC filing window from FY2023 ($6.8M revenue, -$35.3M net income) through FY2025, CODX scaled operating cash flow to -$29.1M and free cash flow to -$29.8M, backed by $24.7M in total assets against $0 in total debt.

3. Institutional Bull vs. Bear Thesis & Valuation Tradeoff

  • 🐂 Primary Bull Case (E • RQD 29/100): Established market leader in Health Care with deep daily trading liquidity. Free cash flow yield of — and institutional whale pillar of 4/20. With Fundamental Cash Engine at 7/20 and Institutional Whale Flow at 4/20, sustained execution supports upside toward the upper end of the $0.37 – $13.80 52-week range.
  • 🐻 Primary Bear Case & Valuation Risk: Company executives have done more routine share selling than personal cash buying lately. Investors must weigh current valuation against -60.0% operating margins and a 1.00x macro beta.

4. 2nd-Order Butterfly Ripples & Key Questions to Watch

— for upstream suppliers, downstream customers, or sector correlations. Investors should note the reported Nov.

  • Key Question #1: Can CODX sustain or expand its -60.0% operating margin and -35.0% ROIC against Medical/Dental Instruments peers over the next 4 quarters?
  • Key Question #2: Following FY2025 revenue of $622.5K and free cash flow of -$29.8M, how will capital allocation balance growth reinvestment against $0 in total debt?
  • Key Question #3: How sensitive is CODX's equity valuation to Health Care capital spending cycles and macro interest-rate shifts (Beta 1.00x)?

CODX Live News Feed, Press Releases & Catalyst Wire

Real-time company headlines, analyst actions, and sector developments for Co-Diagnostics Inc. (CODX) • Click "Debate This Headline" to argue it in the Roar Pit below

💬 Jump to CODX Debate Forum (3) ↓
🔥 THE ROAR PIT • LIVE COMMUNITY DEBATE 3 Active Posts & Replies

CODX Bull vs. Bear Conversation Board — What's Your Call at $0.35?

🐂 67% BULLISH CONVICTION COMMUNITY TUG-OF-WAR ON CODX 🐻 33% BEARISH CONVICTION
1. Pick Your Side on CODX:
💡 Tip: Back up your call with a price target or RQD metric to get upvoted to the top.
TA TapeReader_Pro RQD DEBATE OPENER • Price Action & Volume Trader 🐂 BULLISH 🎯 Target: $0.49 (+32.4%)
📌 Pinned Debate

Cash rose to $11.9M in FY 2025 from $2.9M in FY 2024, and a tuberculosis test reportedly caught 97.3% of TB cases on average in an Indi

Long CODX at $0.37 targeting $0.49. Cash rose to $11.9M in FY 2025 from $2.9M in FY 2024, and a tuberculosis test reportedly caught 97.3% of TB cases on average in an India study under regulatory review.. Institutional whale score is 4/20 and the risk/reward vs. the $0.37 52-week low is skewed heavily in favor of bulls.

RetailWhale_TX 🐂 BULL

Both sides have a point here — CODX's 8/20 balance sheet score keeps downside contained, so the real swing factor next earnings call is backlog and FCF conversion.

SH ShortSeller_Dan RQD DEBATE OPENER • Forensic Short Bias 🐻 BEARISH 🎯 Target: $0.31 (-16.2%)
Spot @ $0.37

Revenue fell from $6.8M in FY 2023 to $0.6M in FY 2025 while net losses stayed between -$35.3M and -$47.0M and free cash flow was negat

Sitting on the sidelines or leaning short CODX above $0.37. Revenue fell from $6.8M in FY 2023 to $0.6M in FY 2025 while net losses stayed between -$35.3M and -$47.0M and free cash flow was negative in every reported period.. Until Fundamental Cash Engine (7/20) and FCF yield (0.0%) inflect higher, upside is capped near $13.80.

LIVE TAPE