Co-Diagnostics, Inc. (NASDAQ:CODX) Short Interest Down 43.3% in December

Co-Diagnostics, Inc. (NASDAQ:CODX) saw a significant decline in short interest in the month of December. As of December 15th, there was short interest totaling 646,208 shares, a decline of 43.3% from the November 30th total of 1,138,960 shares. Based on an average daily volume of 1,424,156 shares, the short-interest ratio is presently 0.5 days. Currently, 1.1% of the company’s shares are sold short. Currently, 1.1% of the company’s shares are sold short. Based on an average daily volume of 1,424,156 shares, the short-interest ratio is presently 0.5 days.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on CODX. Weiss Ratings restated a “sell (d-)” rating on shares of Co-Diagnostics in a report on Thursday, October 30th. Maxim Group upgraded Co-Diagnostics to a “hold” rating in a research report on Wednesday, November 26th. D. Boral Capital restated a “buy” rating and issued a $3.00 target price on shares of Co-Diagnostics in a research report on Tuesday, October 28th. Wall Street Zen raised Co-Diagnostics to a “hold” rating in a research note on Saturday, November 1st. Finally, HC Wainwright reissued a “neutral” rating on shares of Co-Diagnostics in a research report on Monday, November 24th. One equities research analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating, two have given a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $1.83.

Co-Diagnostics Price Performance

Shares of NASDAQ CODX traded down $0.01 during mid-day trading on Monday, hitting $0.23. The company had a trading volume of 391,472 shares, compared to its average volume of 7,130,694. The business’s 50-day simple moving average is $0.37 and its 200 day simple moving average is $0.33. The company has a market capitalization of $13.76 million, a PE ratio of -0.23 and a beta of 1.15. Co-Diagnostics has a 1-year low of $0.22 and a 1-year high of $1.55.

Co-Diagnostics (NASDAQ:CODX) last released its earnings results on Thursday, November 13th. The company reported ($0.16) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.19) by $0.03. Co-Diagnostics had a negative net margin of 6,347.34% and a negative return on equity of 70.26%. The firm had revenue of $0.15 million for the quarter, compared to analyst estimates of $0.30 million. On average, analysts expect that Co-Diagnostics will post -1.22 EPS for the current year.

Institutional Trading of Co-Diagnostics

A hedge fund recently raised its stake in Co-Diagnostics stock. Virtu Financial LLC raised its holdings in Co-Diagnostics, Inc. (NASDAQ:CODX) by 393.8% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 126,524 shares of the company’s stock after purchasing an additional 100,901 shares during the quarter. Virtu Financial LLC owned about 0.21% of Co-Diagnostics worth $44,000 as of its most recent filing with the SEC. 14.99% of the stock is owned by institutional investors and hedge funds.

About Co-Diagnostics

Co-Diagnostics, Inc is a molecular diagnostics company headquartered in Salt Lake City, Utah, known for its proprietary CoPrimer™ technology. Founded in 2016, the company focuses on the design, development and distribution of molecular diagnostic test kits for the detection of infectious diseases, genetic mutations and other health-relevant biomarkers. Its core platform leverages patented cooperative primers, which are engineered to enhance specificity, sensitivity and cost-effectiveness compared to conventional PCR-based assays.

Through its in-house manufacturing and global supply chain partnerships, Co-Diagnostics produces a range of real-time polymerase chain reaction (qPCR) kits, reagents and customized assay development services.