Co-Diagnostics, Inc. (NASDAQ:CODX – Get Free Report) was the target of a significant growth in short interest during the month of April. As of April 30th, there was short interest totaling 94,771 shares, a growth of 107.4% from the April 15th total of 45,702 shares. Based on an average daily trading volume, of 127,204 shares, the short-interest ratio is presently 0.7 days. Approximately 2.8% of the shares of the company are short sold.
Co-Diagnostics Price Performance
NASDAQ:CODX traded down $0.35 on Friday, reaching $1.29. 413,980 shares of the company’s stock were exchanged, compared to its average volume of 735,483. The firm has a market cap of $4.63 million, a price-to-earnings ratio of -0.07 and a beta of 1.26. Co-Diagnostics has a 52 week low of $1.26 and a 52 week high of $46.50. The stock has a fifty day simple moving average of $1.91 and a 200-day simple moving average of $5.28.
Co-Diagnostics (NASDAQ:CODX – Get Free Report) last issued its earnings results on Thursday, May 14th. The company reported ($4.06) earnings per share for the quarter, missing analysts’ consensus estimates of ($3.75) by ($0.31). The business had revenue of $0.15 million for the quarter, compared to the consensus estimate of $0.13 million. Co-Diagnostics had a negative return on equity of 143.23% and a negative net margin of 6,760.63%.
Analyst Ratings Changes
Check Out Our Latest Report on Co-Diagnostics
Hedge Funds Weigh In On Co-Diagnostics
A number of large investors have recently modified their holdings of the company. Geode Capital Management LLC boosted its position in shares of Co-Diagnostics by 40.4% in the fourth quarter. Geode Capital Management LLC now owns 449,148 shares of the company’s stock valued at $81,000 after acquiring an additional 129,158 shares during the period. Virtu Financial LLC boosted its position in shares of Co-Diagnostics by 393.8% in the third quarter. Virtu Financial LLC now owns 126,524 shares of the company’s stock valued at $44,000 after acquiring an additional 100,901 shares during the period. Finally, Jane Street Group LLC boosted its position in shares of Co-Diagnostics by 314.1% in the second quarter. Jane Street Group LLC now owns 166,254 shares of the company’s stock valued at $47,000 after acquiring an additional 126,105 shares during the period. 14.99% of the stock is currently owned by institutional investors.
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.
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