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

Co-Diagnostics, Inc. (NASDAQ:CODX) saw a significant increase in short interest in the month of August. As of August 31st, there was short interest totalling 326,900 shares, an increase of 8.6% from the August 15th total of 300,900 shares. Based on an average daily trading volume, of 278,500 shares, the short-interest ratio is currently 1.2 days.

Analyst Upgrades and Downgrades

Separately, HC Wainwright lowered their target price on Co-Diagnostics from $2.00 to $1.50 and set a “neutral” rating for the company in a report on Monday, August 12th.

Co-Diagnostics Stock Performance

Co-Diagnostics stock traded up $0.02 during mid-day trading on Wednesday, reaching $1.28. 39,276 shares of the company were exchanged, compared to its average volume of 149,747. The business has a fifty day moving average of $1.29 and a 200 day moving average of $1.23. The firm has a market cap of $40.04 million, a P/E ratio of -0.98 and a beta of -0.86. Co-Diagnostics has a 12-month low of $0.98 and a 12-month high of $2.23.

Co-Diagnostics (NASDAQ:CODX) last issued its quarterly earnings data on Thursday, August 8th. The company reported ($0.25) EPS for the quarter, beating the consensus estimate of ($0.34) by $0.09. Co-Diagnostics had a negative return on equity of 44.69% and a negative net margin of 411.18%. The firm had revenue of $2.66 million during the quarter, compared to analyst estimates of $0.40 million. Sell-side analysts predict that Co-Diagnostics will post -1.23 EPS for the current year.

Institutional Trading of Co-Diagnostics

A hedge fund recently bought a new stake in Co-Diagnostics stock. Koss Olinger Consulting LLC acquired a new stake in shares of Co-Diagnostics, Inc. (NASDAQ:CODX) in the 2nd quarter, according to the company in its most recent filing with the SEC. The institutional investor acquired 58,887 shares of the company’s stock, valued at approximately $74,000. Koss Olinger Consulting LLC owned about 0.19% of Co-Diagnostics at the end of the most recent quarter. Institutional investors and hedge funds own 14.99% of the company’s stock.

About Co-Diagnostics

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.