Co-Diagnostics, Inc. (NASDAQ:CODX) Short Interest Update

Co-Diagnostics, Inc. (NASDAQ:CODX) saw a large drop in short interest in March. As of March 31st, there was short interest totalling 162,600 shares, a drop of 19.7% from the March 15th total of 202,400 shares. Based on an average trading volume of 223,900 shares, the days-to-cover ratio is currently 0.7 days. Approximately 0.5% of the shares of the company are short sold.

Wall Street Analyst Weigh In

Separately, HC Wainwright cut their price target on shares of Co-Diagnostics from $1.50 to $1.00 and set a “neutral” rating on the stock in a report on Friday, March 28th.

Co-Diagnostics Trading Down 0.6 %

Co-Diagnostics stock traded down $0.00 on Tuesday, reaching $0.35. 15,275 shares of the stock were exchanged, compared to its average volume of 189,110. The firm has a fifty day moving average price of $0.46 and a two-hundred day moving average price of $0.78. The stock has a market cap of $11.85 million, a PE ratio of -0.25 and a beta of 1.21. Co-Diagnostics has a twelve month low of $0.28 and a twelve month high of $2.23.

Co-Diagnostics (NASDAQ:CODX) last released its earnings results on Thursday, March 27th. The company reported ($0.36) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.34) by ($0.02). Co-Diagnostics had a negative return on equity of 54.94% and a negative net margin of 563.93%. The firm had revenue of $0.15 million for the quarter, compared to analyst estimates of $0.38 million. Equities analysts anticipate that Co-Diagnostics will post -1.22 EPS for the current fiscal year.

Institutional Trading of Co-Diagnostics

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Thompson Davis & CO. Inc. lifted its holdings in Co-Diagnostics by 37.8% during the 4th quarter. Thompson Davis & CO. Inc. now owns 57,200 shares of the company’s stock valued at $43,000 after purchasing an additional 15,700 shares during the last quarter. Jane Street Group LLC acquired a new stake in Co-Diagnostics during the 3rd quarter valued at $55,000. Finally, Geode Capital Management LLC increased its stake in shares of Co-Diagnostics by 7.5% in the fourth quarter. Geode Capital Management LLC now owns 345,511 shares of the company’s stock valued at $259,000 after buying an additional 24,236 shares in the last quarter. Institutional investors own 14.99% of the company’s stock.

Co-Diagnostics Company Profile

Co-Diagnostics, Inc, a molecular diagnostics company, develops, manufactures, and sells reagents used for diagnostic tests that function through the detection and/or analysis of nucleic acid molecules in the United States and internationally. The company offers Co-Dx PCR platform, a polymerase chain reaction (PCR) testing to patients in point-of-care and at-home setting.