Cardio Diagnostics (NASDAQ:CDIO) Releases Quarterly Earnings Results

Cardio Diagnostics (NASDAQ:CDIO) posted its earnings results on Friday. The company reported ($0.80) EPS for the quarter, Zacks reports. Cardio Diagnostics had a negative net margin of 39,674.18% and a negative return on equity of 67.51%.

Cardio Diagnostics Trading Down 38.6%

Shares of Cardio Diagnostics stock traded down $1.76 during trading on Friday, reaching $2.80. The company’s stock had a trading volume of 1,127,513 shares, compared to its average volume of 10,924,570. The company has a 50-day moving average price of $2.68 and a two-hundred day moving average price of $3.33. Cardio Diagnostics has a fifty-two week low of $0.97 and a fifty-two week high of $17.39. The firm has a market cap of $5.12 million, a PE ratio of -0.75 and a beta of 2.28.

Analyst Ratings Changes

Separately, Weiss Ratings restated a “sell (d-)” rating on shares of Cardio Diagnostics in a research note on Monday, December 29th. One research analyst has rated the stock with a Sell rating, According to data from MarketBeat, the company presently has an average rating of “Sell”.

Institutional Inflows and Outflows

An institutional investor recently raised its position in Cardio Diagnostics stock. DRW Securities LLC grew its holdings in Cardio Diagnostics Holdings, Inc. (NASDAQ:CDIO) by 122.8% in the fourth quarter, according to its most recent disclosure with the SEC. The fund owned 40,463 shares of the company’s stock after buying an additional 22,298 shares during the period. DRW Securities LLC owned 2.21% of Cardio Diagnostics worth $110,000 at the end of the most recent reporting period. 8.06% of the stock is owned by institutional investors.

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.