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

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

Analysts Set New Price Targets

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

Co-Diagnostics Stock Performance

CODX traded down $0.01 during trading on Friday, hitting $0.24. The stock had a trading volume of 1,243,101 shares, compared to its average volume of 1,496,194. The firm has a market capitalization of $14.31 million, a P/E ratio of -0.24 and a beta of 1.15. The company’s 50-day moving average price is $0.37 and its 200 day moving average price is $0.33. Co-Diagnostics has a twelve month low of $0.22 and a twelve month high of $1.55.

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

Institutional Inflows and Outflows

A hedge fund recently raised its stake in Co-Diagnostics stock. Virtu Financial LLC grew its holdings in shares of Co-Diagnostics, Inc. (NASDAQ:CODX) by 393.8% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 126,524 shares of the company’s stock after buying an additional 100,901 shares during the quarter. Virtu Financial LLC owned 0.21% of Co-Diagnostics worth $44,000 as of its most recent SEC filing. 14.99% of the stock is currently owned by institutional investors.

Co-Diagnostics Company Profile

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.