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

Co-Diagnostics, Inc. (NASDAQ:CODXGet Free Report) was the recipient of a large growth in short interest in May. As of May 31st, there was short interest totalling 362,600 shares, a growth of 14.9% from the May 15th total of 315,500 shares. Based on an average trading volume of 94,100 shares, the short-interest ratio is presently 3.9 days.

Co-Diagnostics Stock Down 8.8 %

NASDAQ:CODX opened at $1.45 on Tuesday. The firm’s 50-day moving average price is $1.19 and its 200-day moving average price is $1.20. Co-Diagnostics has a 1-year low of $0.98 and a 1-year high of $1.89.

Co-Diagnostics (NASDAQ:CODXGet Free Report) last released its earnings results on Thursday, May 9th. The company reported ($0.31) EPS for the quarter, missing the consensus estimate of ($0.21) by ($0.10). The company had revenue of $0.47 million during the quarter, compared to the consensus estimate of $3.10 million. Co-Diagnostics had a negative return on equity of 42.35% and a negative net margin of 582.36%. During the same period last year, the firm posted ($0.20) earnings per share. As a group, sell-side analysts predict that Co-Diagnostics will post -1.33 EPS for the current fiscal year.

Analyst Ratings Changes

Separately, HC Wainwright restated a “neutral” rating and set a $2.00 price target on shares of Co-Diagnostics in a research report on Monday.

Read Our Latest Research Report on CODX

Institutional Inflows and Outflows

An institutional investor recently raised its position in Co-Diagnostics stock. Kestra Advisory Services LLC grew its holdings in Co-Diagnostics, Inc. (NASDAQ:CODXFree Report) by 108.8% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 128,560 shares of the company’s stock after purchasing an additional 66,989 shares during the period. Kestra Advisory Services LLC owned about 0.42% of Co-Diagnostics worth $136,000 as of its most recent SEC filing. Institutional investors own 14.99% of the company’s stock.

About Co-Diagnostics

(Get Free Report)

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.

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