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

Co-Diagnostics, Inc. (NASDAQ:CODX) saw a large decrease in short interest in 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 daily volume of 56,600 shares, the short-interest ratio is presently 8.0 days.

Institutional Inflows and Outflows

A hedge fund recently raised its stake in Co-Diagnostics stock. Kestra Advisory Services LLC increased its stake in Co-Diagnostics, Inc. (NASDAQ:CODX) by 108.8% during the third quarter, according to its most recent filing with the SEC. The fund owned 128,560 shares of the company’s stock after buying an additional 66,989 shares during the quarter. Kestra Advisory Services LLC owned 0.42% of Co-Diagnostics worth $136,000 at the end of the most recent quarter. 14.99% of the stock is currently owned by hedge funds and other institutional investors.

Co-Diagnostics Stock Up 5.4 %

CODX traded up $0.06 during trading on Monday, hitting $1.17. 113,500 shares of the company’s stock were exchanged, compared to its average volume of 64,389. Co-Diagnostics has a fifty-two week low of $0.98 and a fifty-two week high of $1.89. The stock has a market cap of $36.57 million, a P/E ratio of -0.97 and a beta of -0.68. The business’s 50 day moving average is $1.15 and its two-hundred day moving average is $1.20.

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

Wall Street Analysts Forecast Growth

Separately, HC Wainwright reduced their price objective 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.

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.