Cardio Diagnostics (NASDAQ:CDIO) Issues Quarterly Earnings Results, Beats Estimates By $0.07 EPS

Cardio Diagnostics (NASDAQ:CDIO) issued its earnings results on Monday. The company reported ($0.06) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.13) by $0.07, Zacks reports. The firm had revenue of $0.01 million for the quarter, compared to analyst estimates of $0.13 million. Cardio Diagnostics had a negative net margin of 34,911.87% and a negative return on equity of 415.33%.

Cardio Diagnostics Stock Up 4.0 %

CDIO traded up $0.02 during midday trading on Wednesday, hitting $0.44. 9,362 shares of the company were exchanged, compared to its average volume of 700,399. The firm’s 50 day moving average price is $0.53 and its 200-day moving average price is $0.99. Cardio Diagnostics has a 1-year low of $0.17 and a 1-year high of $3.56.

Analyst Ratings Changes

Separately, Benchmark raised their price objective on Cardio Diagnostics from $1.35 to $2.00 and gave the company a “speculative buy” rating in a report on Thursday, June 6th.

About Cardio Diagnostics

Cardio Diagnostics Holdings, Inc, an artificial intelligence-powered precision cardiovascular medicine company, 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.