Cardio Diagnostics (NASDAQ:CDIO) Share Price Crosses Above 50 Day Moving Average – Should You Sell?

Shares of Cardio Diagnostics Holdings, Inc. (NASDAQ:CDIO) passed 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.

Analysts Set New Price Targets

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

Cardio Diagnostics Trading Down 2.6%

The stock has a 50 day simple moving average of $1.84 and a 200-day simple moving average of $2.06. The firm has a market cap of $5.54 million, a P/E ratio of -0.74 and a beta of 2.32.

Cardio Diagnostics (NASDAQ:CDIO) last posted its earnings results on Friday, November 6th. The company reported ($0.59) 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

An institutional investor recently bought a new stake in Cardio Diagnostics stock. Renaissance Technologies LLC acquired a new position in Cardio Diagnostics Holdings, Inc. (NASDAQ:CDIO) in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm acquired 15,348 shares of the company’s stock, valued at approximately $30,000. Renaissance Technologies LLC owned approximately 0.52% of Cardio Diagnostics as of its most recent SEC filing. Hedge funds and other institutional investors own 8.06% of the company’s stock.

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.