Traders Buy High Volume of Co-Diagnostics Call Options (NASDAQ:CODX)

Co-Diagnostics, Inc. (NASDAQ:CODX) was the target of some unusual options trading on Thursday. Investors purchased 2,796 call options on the stock. This is an increase of approximately 49% compared to the typical volume of 1,871 call options.

Co-Diagnostics Stock Performance

Shares of Co-Diagnostics stock traded up $0.03 on Thursday, reaching $0.39. 1,552,844 shares of the stock were exchanged, compared to its average volume of 7,509,550. The firm has a market cap of $23.63 million, a PE ratio of -0.40 and a beta of 1.15. The firm’s 50 day moving average is $0.39 and its 200-day moving average is $0.33. Co-Diagnostics has a one year low of $0.23 and a one year high of $1.55.

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

Institutional Trading of Co-Diagnostics

An institutional investor recently raised its position in Co-Diagnostics stock. Jane Street Group LLC raised its holdings in Co-Diagnostics, Inc. (NASDAQ:CODX) by 314.1% during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 166,254 shares of the company’s stock after acquiring an additional 126,105 shares during the period. Jane Street Group LLC owned about 0.50% of Co-Diagnostics worth $47,000 at the end of the most recent quarter. Institutional investors own 14.99% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts recently commented on the stock. D. Boral Capital reiterated a “buy” rating and issued a $3.00 price target on shares of Co-Diagnostics in a research note on Tuesday, October 28th. Wall Street Zen raised Co-Diagnostics to a “hold” rating in a research report on Saturday, November 1st. HC Wainwright reissued a “neutral” rating on shares of Co-Diagnostics in a report on Monday, November 24th. Maxim Group upgraded Co-Diagnostics to a “hold” rating in a research note on Wednesday, November 26th. Finally, Weiss Ratings reiterated a “sell (d-)” rating on shares of Co-Diagnostics in a research report on Thursday, October 30th. One investment analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, Co-Diagnostics has an average rating of “Hold” and a consensus target price of $1.83.

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.