Stock Traders Buy Large Volume of Call Options on Co-Diagnostics (NASDAQ:CODX)

Co-Diagnostics, Inc. (NASDAQ:CODX) was the target of some unusual options trading activity on Monday. Stock traders acquired 5,416 call options on the company. This represents an increase of 1,913% compared to the average volume of 269 call options.

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on CODX shares. D. Boral Capital restated a “buy” rating and issued a $3.00 price target on shares of Co-Diagnostics in a report on Thursday, October 16th. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Co-Diagnostics in a research report on Wednesday, October 8th. One investment analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $2.00.

Co-Diagnostics Stock Up 259.3%

Shares of CODX opened at $1.26 on Tuesday. Co-Diagnostics has a 52-week low of $0.23 and a 52-week high of $1.55. The firm’s fifty day moving average is $0.38 and its two-hundred day moving average is $0.32. The stock has a market cap of $60.66 million, a PE ratio of -1.10 and a beta of 0.93.

Co-Diagnostics (NASDAQ:CODX) last announced its earnings results on Thursday, August 14th. The company reported ($0.23) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.25) by $0.02. Co-Diagnostics had a negative net margin of 3,588.33% and a negative return on equity of 69.49%. The company had revenue of $0.16 million for the quarter, compared to analysts’ expectations of $0.30 million. As a group, research analysts anticipate that Co-Diagnostics will post -1.22 earnings per share for the current year.

Institutional Investors Weigh In On Co-Diagnostics

A hedge fund recently raised its stake in Co-Diagnostics stock. Jane Street Group LLC lifted its stake in shares of Co-Diagnostics, Inc. (NASDAQ:CODX) by 314.1% during the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 166,254 shares of the company’s stock after acquiring an additional 126,105 shares during the period. Jane Street Group LLC owned 0.50% of Co-Diagnostics worth $47,000 as of its most recent filing with the Securities & Exchange Commission. Institutional investors own 14.99% of the company’s stock.

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. The company offers Co-Dx PCR platform, a polymerase chain reaction (PCR) testing to patients in point-of-care and at-home setting.