Co-Diagnostics, Inc. (NASDAQ:CODX) Sees Significant Decline in Short Interest

Co-Diagnostics, Inc. (NASDAQ:CODX) was the target of a large decline in short interest in January. As of January 15th, there was short interest totalling 260,800 shares, a decline of 19.4% from the December 31st total of 323,500 shares. Based on an average daily trading volume, of 182,600 shares, the days-to-cover ratio is currently 1.4 days.

Wall Street Analysts Forecast Growth

Separately, HC Wainwright reaffirmed a “neutral” rating and issued a $1.50 target price on shares of Co-Diagnostics in a research note on Monday, November 11th.

Co-Diagnostics Price Performance

Shares of CODX stock opened at $0.75 on Friday. The firm has a fifty day moving average of $0.81 and a 200-day moving average of $1.10. Co-Diagnostics has a 12-month low of $0.67 and a 12-month high of $2.23.

Co-Diagnostics (NASDAQ:CODX) last posted its quarterly earnings data on Thursday, November 7th. The company reported ($0.32) EPS for the quarter, beating the consensus estimate of ($0.33) by $0.01. The business had revenue of $0.64 million for the quarter, compared to analysts’ expectations of $0.40 million. Co-Diagnostics had a negative net margin of 563.93% and a negative return on equity of 54.94%. During the same period in the previous year, the firm posted ($0.20) EPS. Equities analysts predict that Co-Diagnostics will post -1.22 EPS for the current fiscal year.

Institutional Trading of Co-Diagnostics

An institutional investor recently bought a new position in Co-Diagnostics stock. Jane Street Group LLC bought a new stake in Co-Diagnostics, Inc. (NASDAQ:CODX) during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 44,124 shares of the company’s stock, valued at approximately $55,000. Jane Street Group LLC owned about 0.14% 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.