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

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Co-Diagnostics, Inc. (NASDAQ:CODXGet Rating) was the target of a large growth in short interest in October. As of October 31st, there was short interest totalling 2,350,000 shares, a growth of 15.8% from the October 15th total of 2,030,000 shares. Based on an average daily trading volume, of 430,000 shares, the days-to-cover ratio is presently 5.5 days.

Co-Diagnostics Stock Performance

CODX stock traded up $0.02 during trading on Monday, reaching $3.67. 108,954 shares of the company traded hands, compared to its average volume of 460,578. Co-Diagnostics has a 12 month low of $2.76 and a 12 month high of $10.90. The business has a 50 day simple moving average of $3.26 and a 200 day simple moving average of $4.47. The company has a market capitalization of $123.98 million, a price-to-earnings ratio of 7.79 and a beta of -1.04.

Co-Diagnostics (NASDAQ:CODXGet Rating) last issued its quarterly earnings data on Thursday, August 11th. The company reported ($0.10) earnings per share for the quarter, missing analysts’ consensus estimates of $0.15 by ($0.25). Co-Diagnostics had a net margin of 28.50% and a return on equity of 8.21%. The company had revenue of $5.02 million for the quarter, compared to the consensus estimate of $20.50 million. As a group, research analysts forecast that Co-Diagnostics will post 0.09 EPS for the current year.

Institutional Investors Weigh In On Co-Diagnostics

Institutional investors have recently added to or reduced their stakes in the stock. Qube Research & Technologies Ltd bought a new stake in Co-Diagnostics during the first quarter valued at about $158,000. State of Tennessee Treasury Department boosted its holdings in Co-Diagnostics by 82.6% in the first quarter. State of Tennessee Treasury Department now owns 73,043 shares of the company’s stock worth $451,000 after acquiring an additional 33,043 shares in the last quarter. Kestra Advisory Services LLC acquired a new stake in Co-Diagnostics in the first quarter worth about $62,000. UMA Financial Services Inc. boosted its holdings in Co-Diagnostics by 17.5% in the first quarter. UMA Financial Services Inc. now owns 40,375 shares of the company’s stock worth $188,000 after acquiring an additional 6,000 shares in the last quarter. Finally, Tower Research Capital LLC TRC acquired a new stake in Co-Diagnostics in the third quarter worth about $93,000. Institutional investors own 22.56% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts have recently issued reports on CODX shares. HC Wainwright dropped their price target on Co-Diagnostics from $9.00 to $6.00 and set a “buy” rating on the stock in a research report on Monday. Sidoti downgraded Co-Diagnostics from a “buy” rating to a “neutral” rating and set a $5.00 price target on the stock. in a research report on Friday, August 12th.

Co-Diagnostics Company Profile

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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, tuberculosis, hepatitis B and C, human papilloma virus, 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.

Further Reading

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