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

Co-Diagnostics, Inc. (NASDAQ:CODX) saw a large growth in short interest in December. As of December 31st, there was short interest totaling 2,252,057 shares, a growth of 248.5% from the December 15th total of 646,208 shares. Approximately 117.4% of the company’s shares are short sold. Based on an average trading volume of 2,320,782 shares, the days-to-cover ratio is presently 1.0 days. Based on an average trading volume of 2,320,782 shares, the days-to-cover ratio is presently 1.0 days. Approximately 117.4% of the company’s shares are short sold.

Analysts Set New Price Targets

Several research analysts recently issued reports on the stock. Weiss Ratings reissued a “sell (d-)” rating on shares of Co-Diagnostics in a research note on Thursday, October 30th. Wall Street Zen upgraded Co-Diagnostics to a “hold” rating in a research note on Saturday, January 3rd. HC Wainwright reaffirmed a “neutral” rating on shares of Co-Diagnostics in a research note on Monday, November 24th. D. Boral Capital reissued a “buy” rating and issued a $90.00 price objective on shares of Co-Diagnostics in a research note on Tuesday, October 28th. Finally, Maxim Group upgraded Co-Diagnostics to a “hold” rating in a report on Wednesday, November 26th. One investment analyst has rated the stock with a Strong Buy rating, one has given a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, Co-Diagnostics currently has a consensus rating of “Hold” and an average price target of $55.00.

Co-Diagnostics Stock Up 41.9%

CODX stock opened at $3.35 on Thursday. The firm has a market capitalization of $6.79 million, a PE ratio of -0.11 and a beta of 1.25. Co-Diagnostics has a twelve month low of $2.36 and a twelve month high of $46.50. The stock’s 50 day moving average is $8.89 and its 200-day moving average is $9.75.

Co-Diagnostics (NASDAQ:CODX) last released its quarterly earnings results on Thursday, November 13th. The company reported ($4.80) EPS for the quarter, beating analysts’ consensus estimates of ($5.70) by $0.90. Co-Diagnostics had a negative return on equity of 70.26% and a negative net margin of 6,347.34%.The business had revenue of $0.15 million during the quarter, compared to analyst estimates of $0.30 million. On average, equities research analysts anticipate that Co-Diagnostics will post -1.22 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Co-Diagnostics

A hedge fund recently raised its stake in Co-Diagnostics stock. Jane Street Group LLC boosted its stake in shares of Co-Diagnostics, Inc. (NASDAQ:CODX) by 314.1% in the 2nd quarter, according to the company in its most recent disclosure with the SEC. The firm owned 166,254 shares of the company’s stock after buying an additional 126,105 shares during the quarter. Jane Street Group LLC owned approximately 0.50% of Co-Diagnostics worth $47,000 as of its most recent SEC filing. 14.99% of the stock is currently owned by institutional investors and hedge funds.

About Co-Diagnostics

Co-Diagnostics, Inc is a molecular diagnostics company headquartered in Salt Lake City, Utah, known for its proprietary CoPrimer™ technology. Founded in 2016, the company focuses on the design, development and distribution of molecular diagnostic test kits for the detection of infectious diseases, genetic mutations and other health-relevant biomarkers. Its core platform leverages patented cooperative primers, which are engineered to enhance specificity, sensitivity and cost-effectiveness compared to conventional PCR-based assays.

Through its in-house manufacturing and global supply chain partnerships, Co-Diagnostics produces a range of real-time polymerase chain reaction (qPCR) kits, reagents and customized assay development services.