Co-Diagnostics, Inc. (NASDAQ:CODX) Short Interest Down 9.1% in September

Co-Diagnostics, Inc. (NASDAQ:CODX) was the target of a significant decline in short interest in September. As of September 30th, there was short interest totalling 205,300 shares, a decline of 9.1% from the September 15th total of 225,800 shares. Based on an average daily volume of 249,700 shares, the short-interest ratio is presently 0.8 days.

Institutional Trading of Co-Diagnostics

An institutional investor recently raised its position in Co-Diagnostics stock. SMI Advisory Services LLC raised its stake in Co-Diagnostics, Inc. (NASDAQ:CODX) by 117.7% in the 1st quarter, according to its most recent filing with the SEC. The fund owned 38,089 shares of the company’s stock after purchasing an additional 20,590 shares during the period. SMI Advisory Services LLC owned 0.12% of Co-Diagnostics worth $43,000 as of its most recent SEC filing. Institutional investors and hedge funds own 14.99% of the company’s stock.

Co-Diagnostics Stock Up 2.5 %

Shares of Co-Diagnostics stock traded up $0.03 during trading hours on Thursday, hitting $1.25. 168,508 shares of the company’s stock traded hands, compared to its average volume of 144,005. Co-Diagnostics has a twelve month low of $1.00 and a twelve month high of $2.23. The stock has a 50 day simple moving average of $1.32 and a 200-day simple moving average of $1.25. The company has a market cap of $39.10 million, a PE ratio of -0.95 and a beta of -0.87.

Co-Diagnostics (NASDAQ:CODX) last issued its quarterly earnings data 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 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. As a group, equities research analysts predict that Co-Diagnostics will post -1.23 EPS for the current year.

Analysts Set New Price Targets

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

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.