Cardio Diagnostics (NASDAQ:CDIO) Stock Price Up 0.6% – Should You Buy?

Cardio Diagnostics Holdings, Inc. (NASDAQ:CDIO) shares rose 0.6% on Tuesday . The company traded as high as $1.83 and last traded at $1.80. Approximately 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.

Analysts Set New Price Targets

CDIO has been the topic of several research reports. Wall Street Zen raised shares of Cardio Diagnostics to a “hold” rating in a report on Saturday, March 21st. Weiss Ratings reissued a “sell (e+)” rating on shares of Cardio Diagnostics in a research note on Thursday, June 11th. One analyst has rated the stock with a Sell rating, According to MarketBeat, Cardio Diagnostics presently has a consensus rating of “Sell”.

Cardio Diagnostics Stock Performance

The business has a fifty day simple moving average of $1.89 and a 200-day simple moving average of $2.25. The firm has a market cap of $5.33 million, a price-to-earnings ratio of -0.53 and a beta of 2.23.

Cardio Diagnostics (NASDAQ:CDIO) last posted its earnings results on Friday, May 15th. The company reported ($0.63) 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 Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in the business. Renaissance Technologies LLC bought a new position in Cardio Diagnostics in the 1st quarter valued at approximately $30,000. Citadel Advisors LLC bought a new stake in Cardio Diagnostics during the 3rd quarter worth approximately $79,000. Finally, DRW Securities LLC grew its holdings in Cardio Diagnostics by 122.8% during the 4th 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 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.