With a price-to-earnings (or "P/E") ratio of 54.2x Zynex, Inc. (NASDAQ:ZYXI) may be sending very bearish signals at…

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Co-Diagnostics’ (CODX) Covid-19 detector, the Logix Smart COVID-19 Test kit, has scored the green light from The Australian Therapeutic Goods Administration. The product is an in vitro diagnostic test for the qualitative detection of the RNA from SARS-CoV-2 coronavirus (COVID-19).The molecular test uses a single step real-time reverse transcriptase polymerase chain reaction (RT-PCR) process in lower respiratory tract fluids and upper respiratory tract fluids from patients who meet the clinical criteria COVID-19. These include fever, cough, shortness of breath and travel history to China.Negative results do not preclude SARS-CoV-2 infection and should not be used as the sole basis for patient management decisions, the company adds.However, shares in CODX plunged 8% in Tuesday’s trading, and fell a further 1.4% after-hours on a bout of profit-taking after the stock’s steep climb on Monday.The stock rallied 28% following the announcement that the company’s partner, Clinical Reference Laboratory (CRL), received Emergency Use Authorization from the US FDA for CRL Rapid Response, a saliva-based COVID-19 test that can be self-administered at home, and then tested using Co-Diagnostics’ patented CoPrimer technology.“We believe that CRL’s selection of the Co-Diagnostics platform, and their successful emergency use authorization from the FDA, speaks volumes about the quality, sensitivity, and specificity of our CoPrimer primer and probe technology,” remarked Dwight Egan, CEO of Co-Diagnostics.Indeed shares in Co-Diagnostics have exploded over 3000% year-to-date, and the stock still maintains a bullish Strong Buy Street consensus. That’s alongside an average analyst price target of $34 (19% upside potential).“Logix Smart COVID-19 test’s high accuracy [has been] independently validated for multiple times” comments HC Wainwright analyst Yi Chen, adding that time to detection is just 63-90 minutes. With the U.S. continuing to record over 60,000 new cases of Covid-19 daily Chen expects Co-Diagnostics to continue to provide its partners with large volumes of its Logix Smart Covid-19 test kits.The analyst reiterated his buy rating on the stock with a $35 price target following the approval of the company’s self-collecting Covid-19 saliva test. (See CODX stock analysis on TipRanks).Related News: CytoDyn Scores Safety Thumbs Up For Late-Stage Covid-19 Trial Abiomed’s Impella Scores Emergency FDA Nod For Covid-19 Patients Regeneron: Covid-19 Antibody Combo Prevents & Treats Disease In Animals More recent articles from Smarter Analyst: * LivePerson Spikes 15% On Raised Profit Guidance; Needham Almost Doubles PT * CyberArk Drops 6% On 3Q Outlook, Top Analyst Says Hold * Twilio Falls 4% In After-Hours On Weakening Corporate Demand * Oppenheimer Lifts SolarEdge's PT After Strong 2Q Results

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(Bloomberg) — Apple Inc.’s planned stock split in the wake of the surge in its shares and strong earnings is stirring more bets on the company, according to TD Ameritrade Holding Corp.Activity in the world’s largest technology company “sticks out” over the past week, a repeat of the pattern seen in previous years when Apple split its stock, Christopher Brankin, chief executive officer of brokerage TD Ameritrade Asia Pte in Singapore, said in an interview Tuesday.“It’s something that we’re seeing across our options here because of that announcement,” he said, referring to the use of derivatives to bet on more gains in Apple shares.The iPhone maker’s quarterly report last week crushed Wall Street expectations amid pandemic demand for its products, and the company announced a four-for-one split for later this month to make its stock more accessible. The stock has risen for five straight days, adding more than 17% to $438.66.Signals from the options market are flashing enthusiasm for Apple shares, such as unusually high relative prices for upside bets, according to RBC Capital Markets strategist Amy Wu Silverman.Apple options are pricing in more upside risk versus downside than at any time this year, despite the stock having almost doubled from its mid-March lows, Chris Murphy, derivatives strategist at Susquehanna Financial Group LLLP, wrote in a note Monday. Smaller traders have been a big portion of such bets in recent months, according to Sundial Capital Research Inc.That’s part of a wider fervor for the stay-at-home trade favoring some technology stocks. More than 82,000 users of the U.S. investing app Robinhood.com added Apple to their accounts in some form over the past week, according to website Robintrack.net, which aggregates data from the brokerage but isn’t affiliated with it.(Adds stock move in fourth paragraph.)For more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2020 Bloomberg L.P.

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Stock futures rose Wednesday morning as investors awaited more updates on stimulus talks out of Washington and another batch of corporate earnings and economic data reports. During the regular session, the Nasdaq logged a fifth straight session of gains and closed at a record, and the S&P 500 and Dow rose for a third straight day. Gold topped $2,000 per ounce.

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Skyworks Solutions, Inc. (NASDAQ:SWKS) stock is about to trade ex-dividend in four days. Investors can purchase shares…

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Note: Financial references in US dollars unless otherwise indicated.Q2 2020 HIGHLIGHTS * Adjusted EBITDA of $84 million and Adjusted earnings of $0.

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Top news and what to watch in the markets on Wednesday, August 5, 2020.

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