Cardio Diagnostics (NASDAQ:CDIO) Shares Down 0.5% – Time to Sell?

Cardio Diagnostics Holdings, Inc. (NASDAQ:CDIO) fell 0.5% during mid-day trading on Wednesday . The company traded as low as $1.81 and last traded at $1.84. 17,796 shares traded hands during trading, a decline of 65% from the average daily volume of 50,973 shares. The stock had previously closed at $1.85.

Analysts Set New Price Targets

Separately, Weiss Ratings reissued a “sell (e+)” rating on shares of Cardio Diagnostics in a report on Thursday, June 11th. One research analyst has rated the stock with a Sell rating, According to MarketBeat, Cardio Diagnostics presently has an average rating of “Sell”.

Cardio Diagnostics Price Performance

The business’s 50-day moving average price is $1.84 and its two-hundred day moving average price is $2.19. The firm has a market cap of $5.45 million, a price-to-earnings ratio of -0.63 and a beta of 2.28.

Cardio Diagnostics (NASDAQ:CDIO) last posted its quarterly earnings results on Friday, August 7th. The company reported ($0.51) earnings per share (EPS) for the quarter. Cardio Diagnostics had a negative net margin of 43,133.33% and a negative return on equity of 82.28%. The company had revenue of $0.01 million during the quarter.

Institutional Investors Weigh In On Cardio Diagnostics

A number of institutional investors have recently modified their holdings of the stock. DRW Securities LLC lifted its position in shares of Cardio Diagnostics by 122.8% during the fourth quarter. DRW Securities LLC now owns 40,463 shares of the company’s stock worth $110,000 after purchasing an additional 22,298 shares during the last quarter. Citadel Advisors LLC acquired a new position in Cardio Diagnostics in the third quarter worth about $79,000. Finally, Renaissance Technologies LLC bought a new stake in Cardio Diagnostics in the first quarter valued at about $30,000. Institutional investors and hedge funds own 8.06% of the company’s stock.

Cardio Diagnostics Company Profile

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.