Cardio Diagnostics (NASDAQ:CDIO) Stock Breaks Above 50-Day Moving Average – Here’s What Happened

Shares of Cardio Diagnostics Holdings, Inc. (NASDAQ:CDIO) crossed above its 50 day moving average during trading on Tuesday. The stock has a 50 day moving average of $1.84 and traded as high as $1.90. Cardio Diagnostics shares last traded at $1.86, with a volume of 11,645 shares traded.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings reissued a “sell (e+)” rating on shares of Cardio Diagnostics in a research report on Tuesday, September 8th. One research analyst has rated the stock with a Sell rating. According to MarketBeat.com, the company has an average rating of “Sell”.

Cardio Diagnostics Stock Performance

The company has a market cap of $5.51 million, a P/E ratio of -0.74 and a beta of 2.32. The stock’s fifty day moving average price is $1.84 and its two-hundred day moving average price is $2.06.

Cardio Diagnostics (NASDAQ:CDIO) last announced its quarterly earnings data on Friday, November 6th. The company reported ($0.59) earnings per share (EPS) for the quarter. Cardio Diagnostics had a negative net margin of 40,543.75% and a negative return on equity of 89.41%.

Hedge Funds Weigh In On Cardio Diagnostics

A hedge fund recently bought a new position in Cardio Diagnostics stock. Renaissance Technologies LLC bought a new position in shares of Cardio Diagnostics Holdings, Inc. (NASDAQ:CDIO) in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 15,348 shares of the company’s stock, valued at approximately $30,000. Renaissance Technologies LLC owned approximately 0.52% of Cardio Diagnostics at the end of the most recent quarter. 8.06% of the stock is currently owned by institutional investors and hedge funds.

About Cardio Diagnostics

Cardio Diagnostics Holdings, Inc. is a biotechnology company developing artificial intelligence-powered precision medicine products for the prevention and management of cardiovascular disease. Its approach combines genetic, epigenetic and clinical information to help identify individuals at elevated risk and support more personalized care. The company’s product portfolio includes Epi+Gen CHD, a blood-based test designed to assess an individual’s risk of developing coronary heart disease and provide information that may guide prevention strategies.