Cardio Diagnostics (NASDAQ:CDIO) Shares Down 0.5% – Should You Sell?

Cardio Diagnostics Holdings, Inc. (NASDAQ:CDIO) shares dropped 0.5% during trading on Monday . The stock traded as low as $1.9518 and last traded at $1.97. Approximately 21,328 shares changed hands during trading, a decline of 62% from the average session volume of 55,992 shares. The stock had previously closed at $1.98.

Analysts Set New Price Targets

Several research firms recently issued reports on CDIO. Wall Street Zen upgraded Cardio Diagnostics to a “hold” rating in a report on Saturday, March 21st. Weiss Ratings restated a “sell (e+)” rating on shares of Cardio Diagnostics in a report on Thursday, June 11th. One investment analyst has rated the stock with a Sell rating, Based on data from MarketBeat, Cardio Diagnostics presently has a consensus rating of “Sell”.

Cardio Diagnostics Stock Down 0.5%

The business has a 50-day moving average price of $1.85 and a two-hundred day moving average price of $2.40. The firm has a market cap of $5.83 million, a PE ratio of -0.58 and a beta of 2.25.

Cardio Diagnostics (NASDAQ:CDIO) last announced its quarterly earnings data on Friday, May 15th. The company reported ($0.63) earnings per share (EPS) 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 hedge funds have recently bought and sold shares of CDIO. Renaissance Technologies LLC purchased a new stake in shares of Cardio Diagnostics during the first quarter worth approximately $30,000. Citadel Advisors LLC acquired a new stake in Cardio Diagnostics in the third quarter valued at approximately $79,000. Finally, DRW Securities LLC lifted its stake in Cardio Diagnostics by 122.8% in the fourth quarter. DRW Securities LLC now owns 40,463 shares of the company’s stock worth $110,000 after acquiring an additional 22,298 shares during the last quarter. Institutional investors and hedge funds 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.