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

Cardio Diagnostics Holdings, Inc. (NASDAQ:CDIO) shares traded down 0.5% on Wednesday . The stock traded as low as $1.81 and last traded at $1.84. Approximately 17,796 shares traded hands 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.

Analyst Ratings Changes

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

Cardio Diagnostics Trading Down 0.5%

The firm has a market cap of $5.45 million, a PE ratio of -0.63 and a beta of 2.28. The stock’s 50 day moving average price is $1.84 and its 200 day moving average price is $2.19.

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

Institutional Trading of Cardio Diagnostics

A number of hedge funds have recently made changes to their positions in the company. Renaissance Technologies LLC acquired a new position in shares of Cardio Diagnostics during the first quarter worth $30,000. Citadel Advisors LLC purchased a new position in shares of Cardio Diagnostics in the third quarter valued at $79,000. Finally, DRW Securities LLC increased its stake 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 buying an additional 22,298 shares during the period. Hedge funds and other 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.