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 Thursday. Traders bought 2,796 call options on the company. This represents an increase of approximately 49% compared to the average volume of 1,871 call options.

Analysts Set New Price Targets

Several brokerages have recently issued reports on CODX. Weiss Ratings reiterated a “sell (d-)” rating on shares of Co-Diagnostics in a research report on Thursday, October 30th. Wall Street Zen raised Co-Diagnostics to a “hold” rating in a research note on Saturday, November 1st. Maxim Group upgraded shares of Co-Diagnostics to a “hold” rating in a research report on Wednesday, November 26th. D. Boral Capital reaffirmed a “buy” rating and issued a $3.00 price target on shares of Co-Diagnostics in a report on Tuesday, October 28th. Finally, HC Wainwright reiterated a “neutral” rating on shares of Co-Diagnostics in a research report on Monday, November 24th. One 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 issued a Sell rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $1.83.

Institutional Investors Weigh In On Co-Diagnostics

A hedge fund recently raised its stake in Co-Diagnostics stock. Jane Street Group LLC raised its holdings in Co-Diagnostics, Inc. (NASDAQ:CODX) by 314.1% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (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 0.50% of Co-Diagnostics worth $47,000 as of its most recent SEC filing. Institutional investors own 14.99% of the company’s stock.

Co-Diagnostics Price Performance

Shares of CODX opened at $0.37 on Friday. The business’s 50-day moving average is $0.39 and its 200-day moving average is $0.33. The company has a market capitalization of $22.80 million, a price-to-earnings ratio of -0.38 and a beta of 1.15. Co-Diagnostics has a fifty-two week low of $0.23 and a fifty-two week high of $1.55.

Co-Diagnostics (NASDAQ:CODX) last released its quarterly earnings data on Thursday, November 13th. The company reported ($0.16) EPS for the quarter, topping analysts’ consensus estimates of ($0.19) by $0.03. Co-Diagnostics had a negative return on equity of 70.26% and a negative net margin of 6,347.34%.The firm had revenue of $0.15 million for the quarter, compared to the consensus estimate of $0.30 million. Equities research analysts expect that Co-Diagnostics will post -1.22 earnings per share for the current fiscal year.

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.