Co-Diagnostics, Inc. (NASDAQ:CODX) Short Interest Down 8.8% in April

Co-Diagnostics, Inc. (NASDAQ:CODX) saw a significant decrease in short interest during the month of April. As of April 15th, there was short interest totalling 453,000 shares, a decrease of 8.8% from the March 31st total of 496,500 shares. Based on an average trading volume of 56,600 shares, the days-to-cover ratio is presently 8.0 days.

Co-Diagnostics Price Performance

Shares of CODX stock traded up $0.06 on Monday, hitting $1.17. 113,500 shares of the stock traded hands, compared to its average volume of 64,389. The firm has a market cap of $36.57 million, a price-to-earnings ratio of -0.97 and a beta of -0.68. The firm has a 50 day simple moving average of $1.15 and a two-hundred day simple moving average of $1.20. Co-Diagnostics has a 52 week low of $0.98 and a 52 week high of $1.89.

Co-Diagnostics (NASDAQ:CODX) last released its quarterly earnings data on Thursday, March 14th. The company reported ($0.50) earnings per share (EPS) for the quarter. Co-Diagnostics had a negative net margin of 518.69% and a negative return on equity of 35.37%. The company had revenue of $3.56 million for the quarter, compared to the consensus estimate of $3.63 million. Sell-side analysts forecast that Co-Diagnostics will post -0.99 EPS for the current year.

Analyst Ratings Changes

Separately, HC Wainwright cut their target price on shares of Co-Diagnostics from $3.00 to $2.50 and set a “neutral” rating for the company in a research report on Friday, March 15th.

Hedge Funds Weigh In On Co-Diagnostics

An institutional investor recently bought a new position in Co-Diagnostics stock. SMI Advisory Services LLC purchased a new position in Co-Diagnostics, Inc. (NASDAQ:CODX) in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm purchased 17,499 shares of the company’s stock, valued at approximately $25,000. SMI Advisory Services LLC owned approximately 0.06% of Co-Diagnostics at the end of the most recent quarter. 14.99% of the stock is owned by institutional investors.

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.