Co-Diagnostics, Inc. (NASDAQ:CODX) Short Interest Update

Co-Diagnostics, Inc. (NASDAQ:CODX) saw a significant increase in short interest in March. As of March 31st, there was short interest totalling 496,500 shares, an increase of 30.1% from the March 15th total of 381,500 shares. Based on an average daily trading volume, of 66,300 shares, the days-to-cover ratio is presently 7.5 days.

Institutional Investors Weigh In On Co-Diagnostics

Several hedge funds have recently bought and sold shares of CODX. Kestra Advisory Services LLC raised its stake in Co-Diagnostics by 7.8% in the fourth quarter. Kestra Advisory Services LLC now owns 138,607 shares of the company’s stock valued at $184,000 after buying an additional 10,047 shares during the period. SMI Advisory Services LLC bought a new position in shares of Co-Diagnostics in the fourth quarter valued at about $25,000. Envestnet Asset Management Inc. bought a new position in shares of Co-Diagnostics during the third quarter worth approximately $26,000. Koss Olinger Consulting LLC grew its stake in shares of Co-Diagnostics by 71.8% in the third quarter. Koss Olinger Consulting LLC now owns 111,808 shares of the company’s stock valued at $119,000 after acquiring an additional 46,742 shares in the last quarter. Finally, Dimensional Fund Advisors LP increased its holdings in shares of Co-Diagnostics by 301.8% during the first quarter. Dimensional Fund Advisors LP now owns 42,440 shares of the company’s stock worth $63,000 after purchasing an additional 31,878 shares during the period. 14.99% of the stock is currently owned by institutional investors and hedge funds.

Co-Diagnostics Stock Down 3.2 %

Co-Diagnostics stock opened at $1.20 on Monday. The company has a fifty day simple moving average of $1.15 and a 200 day simple moving average of $1.19. Co-Diagnostics has a 1-year low of $0.98 and a 1-year high of $1.89.

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

Analyst Ratings Changes

Separately, HC Wainwright decreased their price objective on shares of Co-Diagnostics from $3.00 to $2.50 and set a “neutral” rating for the company in a report on Friday, March 15th.

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. It offers polymerase chain reaction (PCR) diagnostic tests for COVID-19, influenza, tuberculosis, hepatitis B and C, human papillomavirus, malaria, chikungunya, dengue, and the zika virus; three multiplexed tests to test mosquitos for the identification of diseases carried by the mosquitos; and molecular tools for detection of infectious diseases, liquid biopsy for cancer screening, and agricultural applications.