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

Co-Diagnostics, Inc. (NASDAQ:CODX) was the recipient of a large increase in short interest in November. As of November 15th, there was short interest totalling 229,100 shares, an increase of 9.8% from the October 31st total of 208,700 shares. Based on an average daily trading volume, of 127,300 shares, the days-to-cover ratio is currently 1.8 days.

Co-Diagnostics Stock Performance

Shares of Co-Diagnostics stock traded up $0.05 on Monday, reaching $0.94. 118,069 shares of the stock were exchanged, compared to its average volume of 139,672. The firm’s 50 day moving average is $1.18 and its 200-day moving average is $1.24. The firm has a market cap of $29.93 million, a PE ratio of -0.64 and a beta of -0.84. Co-Diagnostics has a one year low of $0.85 and a one year high of $2.23.

Analyst Upgrades and Downgrades

Separately, HC Wainwright reaffirmed a “neutral” rating and set a $1.50 target price on shares of Co-Diagnostics in a report on Monday, November 11th.

Hedge Funds Weigh In On Co-Diagnostics

A hedge fund recently bought a new stake in Co-Diagnostics stock. Jane Street Group LLC bought a new position in shares of Co-Diagnostics, Inc. (NASDAQ:CODX) during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm bought 44,124 shares of the company’s stock, valued at approximately $55,000. Jane Street Group LLC owned 0.14% of Co-Diagnostics at the end of the most recent reporting period. 14.99% of the stock is currently owned by institutional investors and hedge funds.

Co-Diagnostics Company Profile

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.