Cardio Diagnostics (NASDAQ:CDIO) Trading Up 0.6% – Here’s Why

Cardio Diagnostics Holdings, Inc. (NASDAQ:CDIO) shares were up 0.6% during mid-day trading on Tuesday . The company traded as high as $1.83 and last traded at $1.80. 17,699 shares traded hands during mid-day trading, a decline of 48% from the average session volume of 33,775 shares. The stock had previously closed at $1.79.

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on the stock. Weiss Ratings reissued a “sell (e+)” rating on shares of Cardio Diagnostics in a report on Thursday, June 11th. Wall Street Zen upgraded shares of Cardio Diagnostics to a “hold” rating in a report on Saturday, March 21st. One investment analyst has rated the stock with a Sell rating, According to MarketBeat.com, Cardio Diagnostics has an average rating of “Sell”.

Cardio Diagnostics Stock Down 5.6%

The firm has a fifty day simple moving average of $1.89 and a 200-day simple moving average of $2.24. The company has a market cap of $5.00 million, a PE ratio of -0.50 and a beta of 2.23.

Cardio Diagnostics (NASDAQ:CDIO) last posted its earnings results on Friday, May 15th. The company reported ($0.63) earnings per share for the quarter. Cardio Diagnostics had a negative net margin of 36,950.00% and a negative return on equity of 78.82%.

Institutional Investors Weigh In On Cardio Diagnostics

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Renaissance Technologies LLC acquired a new stake in shares of Cardio Diagnostics in the first quarter valued at approximately $30,000. Citadel Advisors LLC acquired a new position in shares of Cardio Diagnostics in the 3rd quarter valued at $79,000. Finally, DRW Securities LLC increased its holdings in shares of Cardio Diagnostics by 122.8% in the 4th quarter. DRW Securities LLC now owns 40,463 shares of the company’s stock valued at $110,000 after acquiring an additional 22,298 shares during the period. Hedge funds and other institutional investors own 8.06% of the company’s stock.

About Cardio Diagnostics

Cardio Diagnostics Holdings, Inc develops and commercializes epigenetics-based clinical tests for cardiovascular disease. It offers Epi+Gen CHD, a three-year symptomatic coronary heart disease (CHD) risk assessment test targeting CHD events, including heart attacks; and PrecisionCHD, an integrated epigenetic-genetic blood test for the early detection of coronary heart disease. Cardio Diagnostics Holdings, Inc was founded in 2017 and is headquartered in Chicago, Illinois.