Short Interest in Co-Diagnostics, Inc. (NASDAQ:CODX) Increases By 10.3%

Co-Diagnostics, Inc. (NASDAQ:CODX) saw a large increase in short interest in the month of October. As of October 15th, there was short interest totalling 226,400 shares, an increase of 10.3% from the September 30th total of 205,300 shares. Based on an average daily volume of 247,800 shares, the short-interest ratio is presently 0.9 days.

Institutional Inflows and Outflows

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

Analyst Upgrades and Downgrades

Separately, HC Wainwright dropped their price objective 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 Price Performance

NASDAQ:CODX traded up $0.01 during trading hours on Wednesday, hitting $1.22. The company had a trading volume of 88,417 shares, compared to its average volume of 140,281. The stock has a 50-day moving average price of $1.30 and a 200 day moving average price of $1.25. The company has a market capitalization of $38.93 million, a PE ratio of -0.92 and a beta of -0.87. Co-Diagnostics has a 52 week low of $1.00 and a 52 week high of $2.23.

Co-Diagnostics (NASDAQ:CODX) last announced its earnings results on Thursday, August 8th. The company reported ($0.25) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.34) by $0.09. Co-Diagnostics had a negative net margin of 411.18% and a negative return on equity of 44.69%. The firm had revenue of $2.66 million for the quarter, compared to analyst estimates of $0.40 million. Analysts anticipate that Co-Diagnostics will post -1.23 EPS for the current fiscal year.

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.