Cardio Diagnostics (NASDAQ:CDIO) Shares Down 0.5% – Here’s What Happened

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

Wall Street Analysts Forecast Growth

Separately, 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, the stock has a consensus rating of “Sell”.

Cardio Diagnostics Trading Up 1.1%

The company’s 50 day simple moving average is $1.84 and its 200 day simple moving average is $2.19. The stock has a market capitalization of $5.48 million, a PE ratio of -0.63 and a beta of 2.28.

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

Hedge Funds Weigh In On Cardio Diagnostics

Several large investors have recently added to or reduced their stakes in the business. DRW Securities LLC boosted its stake in Cardio Diagnostics by 122.8% in the 4th quarter. DRW Securities LLC now owns 40,463 shares of the company’s stock worth $110,000 after buying an additional 22,298 shares during the last quarter. Citadel Advisors LLC acquired a new position in shares of Cardio Diagnostics during the 3rd quarter valued at about $79,000. Finally, Renaissance Technologies LLC acquired a new position in shares of Cardio Diagnostics during the 1st quarter valued at about $30,000. 8.06% of the stock is currently owned by hedge funds and other 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.