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

Co-Diagnostics, Inc. (NASDAQ:CODX) was the recipient of a significant decrease in short interest in September. As of September 15th, there was short interest totaling 795,100 shares, a decrease of 41.5% from the August 31st total of 1,360,000 shares. Based on an average trading volume of 6,430,000 shares, the short-interest ratio is currently 0.1 days. Based on an average trading volume of 6,430,000 shares, the short-interest ratio is currently 0.1 days.

Co-Diagnostics Trading Up 8.1%

NASDAQ:CODX opened at $0.38 on Monday. Co-Diagnostics has a 12 month low of $0.23 and a 12 month high of $1.40. The company has a market cap of $14.79 million, a PE ratio of -0.33 and a beta of 0.93. The company has a 50 day simple moving average of $0.33 and a two-hundred day simple moving average of $0.32.

Co-Diagnostics (NASDAQ:CODX) last posted its earnings results on Thursday, August 14th. The company reported ($0.23) EPS for the quarter, topping analysts’ consensus estimates of ($0.25) by $0.02. Co-Diagnostics had a negative net margin of 3,588.33% and a negative return on equity of 69.49%. The business had revenue of $0.16 million during the quarter, compared to the consensus estimate of $0.30 million. Research analysts forecast that Co-Diagnostics will post -1.22 earnings per share for the current year.

Analyst Ratings Changes

Several research firms have issued reports on CODX. D. Boral Capital restated a “buy” rating and set a $10.00 target price on shares of Co-Diagnostics in a research report on Wednesday, September 17th. Weiss Ratings reiterated a “sell (e+)” rating on shares of Co-Diagnostics in a research report on Saturday, September 27th. One investment analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $5.50.

Institutional Investors Weigh In On Co-Diagnostics

An institutional investor recently raised its position in Co-Diagnostics stock. Jane Street Group LLC boosted its stake in Co-Diagnostics, Inc. (NASDAQ:CODX) by 314.1% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 166,254 shares of the company’s stock after purchasing an additional 126,105 shares during the period. Jane Street Group LLC owned approximately 0.50% of Co-Diagnostics worth $47,000 at the end of the most recent quarter. 14.99% of the stock is owned by hedge funds and other institutional investors.

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.