Co-Diagnostics Target of Unusually Large Options Trading (NASDAQ:CODX)

Co-Diagnostics, Inc. (NASDAQ:CODX) was the target of unusually large options trading activity on Thursday. Traders acquired 2,796 call options on the company. This is an increase of 49% compared to the average daily volume of 1,871 call options.

Institutional Inflows and Outflows

A hedge fund recently raised its stake in Co-Diagnostics stock. Virtu Financial LLC grew its position in Co-Diagnostics, Inc. (NASDAQ:CODX) by 393.8% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 126,524 shares of the company’s stock after acquiring an additional 100,901 shares during the period. Virtu Financial LLC owned about 0.21% of Co-Diagnostics worth $44,000 at the end of the most recent quarter. Hedge funds and other institutional investors own 14.99% of the company’s stock.

Wall Street Analyst Weigh In

CODX has been the subject of a number of analyst reports. Maxim Group raised shares of Co-Diagnostics to a “hold” rating in a report on Wednesday, November 26th. Wall Street Zen upgraded Co-Diagnostics to a “hold” rating in a research report on Saturday, November 1st. HC Wainwright restated a “neutral” rating on shares of Co-Diagnostics in a report on Monday, November 24th. D. Boral Capital reissued a “buy” rating and set a $3.00 price target on shares of Co-Diagnostics in a research report on Tuesday, October 28th. Finally, Weiss Ratings restated a “sell (d-)” rating on shares of Co-Diagnostics in a research report on Thursday, October 30th. One research 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 assigned a Sell rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $1.83.

Co-Diagnostics Trading Up 8.8%

Shares of Co-Diagnostics stock traded up $0.03 during trading on Thursday, reaching $0.39. The stock had a trading volume of 1,552,844 shares, compared to its average volume of 7,509,550. The company has a market capitalization of $23.63 million, a price-to-earnings ratio of -0.40 and a beta of 1.15. The stock has a fifty day moving average price of $0.39 and a two-hundred day moving average price of $0.33. Co-Diagnostics has a 52 week low of $0.23 and a 52 week high of $1.55.

Co-Diagnostics (NASDAQ:CODX) last issued its quarterly earnings results on Thursday, November 13th. The company reported ($0.16) earnings per share for the quarter, topping the consensus estimate of ($0.19) by $0.03. Co-Diagnostics had a negative net margin of 6,347.34% and a negative return on equity of 70.26%. The company had revenue of $0.15 million during the quarter, compared to analysts’ expectations of $0.30 million. On average, equities analysts forecast that Co-Diagnostics will post -1.22 EPS 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.