Cardio Diagnostics (NASDAQ:CDIO) Stock Price Up 6.2% – Should You Buy?

Cardio Diagnostics Holdings, Inc. (NASDAQ:CDIO) shares rose 6.2% during trading on Wednesday . The company traded as high as $4.29 and last traded at $4.26. Approximately 42,433 shares were traded during mid-day trading, an increase of 53% from the average daily volume of 27,807 shares. The stock had previously closed at $4.01.

Wall Street Analyst Weigh In

Separately, Wall Street Zen raised Cardio Diagnostics from a “sell” rating to a “hold” rating in a research report on Saturday, August 16th.

Cardio Diagnostics Price Performance

The firm has a 50-day moving average of $3.88 and a 200-day moving average of $6.26.

Cardio Diagnostics (NASDAQ:CDIO) last released its quarterly earnings data on Thursday, August 14th. The company reported ($0.97) earnings per share (EPS) for the quarter, beating the consensus estimate of ($1.80) by $0.83. The business had revenue of $0.01 million for the quarter, compared to analysts’ expectations of $0.08 million. Cardio Diagnostics had a negative return on equity of 72.78% and a negative net margin of 30,465.10%. On average, equities analysts anticipate that Cardio Diagnostics Holdings, Inc. will post -0.55 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Cardio Diagnostics

A hedge fund recently bought a new stake in Cardio Diagnostics stock. Millennium Management LLC purchased a new stake in shares of Cardio Diagnostics Holdings, Inc. (NASDAQ:CDIO) during the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor purchased 256,941 shares of the company’s stock, valued at approximately $236,000. Millennium Management LLC owned 0.64% of Cardio Diagnostics at the end of the most recent reporting period. 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.