Cardio Diagnostics Holdings Inc. (NASDAQ: CDIO) stock fell -4.35% on Wednesday to $1.32 against a previous-day closing price of $1.38. With 0.12 million shares changed hands, the volume of the stock remained lighter than its average volume of 3.51 million shares. During the session, the Biotechnology company that operates in wider Healthcare sector, reached to the highest price of $1.3799 whereas the lowest price it dropped to was $1.2400. The 52-week range on CDIO shows that it touched its highest point at $10.25 and its lowest point at $0.80 during that stretch. It currently has a 1-year price target of $8.00.
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Price Performance and Earnings:
Stock performance is one of the indicators that investors use to determine whether they will profit from a stock. The price performance of CDIO was down-trending over the past week, with a drop of -10.81%, but this was down by -45.00% over a month. Three-month performance surged to 16.81% while six-month performance fell -46.56%. A look at the trailing 12-month EPS for CDIO yields -0.37 with Next year EPS estimates of -0.82.
Float and Shares Shorts:
At present, 9.98 million CDIO shares are outstanding with a float of 4.11 million shares on hand for trading. On May 14, 2023, short shares totaled 0.11 million, which was 1.15% higher than short shares on Apr 13, 2023. In addition to Dr. Meeshanthini V. Dogan Ph.D. as the firm’s Co-Founder, CEO & Director, Ms. Elisa Michael Luqman Esq., J.D., M.B.A. serves as its Chief Financial Officer.
Institutional Ownership:
Through their ownership of 3.71% of CDIO’s outstanding shares, institutional investors have minority control over the company. Other institutions hold 2.11% of CDIO, in contrast to 1.64% held by mutual funds. Shares owned by individuals account for –. As the largest shareholder in CDIO with 0.89% of the stake, Linden Advisors LP holds 85,713 shares worth 85,713. A second-largest stockholder of CDIO, Geode Capital Management LLC, holds 74,284 shares, controlling over 0.77% of the firm’s shares. The Vanguard Group, Inc. is the third largest shareholder in CDIO, holding 64,022 shares or 0.67% stake. With a 0.67% stake in CDIO, the Vanguard Extended Market Index Fu is the largest stakeholder. A total of 64,022 shares are owned by the mutual fund manager. The Fidelity Extended Market Index Fu, which owns about 0.40% of CDIO stock, is the second-largest Mutual Fund holder. It holds 38,744 shares valued at 89886.0. EHP Global Arbitrage Alternative holds 0.26% of the stake in CDIO, owning 25,000 shares worth 58000.0.
An Overview of Recent Financials:
Understanding a company as a customer does not mean you will understand it as an investor. The wise investor uses quantitative research to analyze metrics such as revenue, net income, and earnings. In its fiscal quarter reported on Mar 30, 2023, CDIO reported revenue of $0.00 and operating income of -$786.96k. It generated -$842.00k net income for the quarter, which came to -$1.52M over the last twelve months. The EBITDA in the recently reported quarter was -$727.93k and diluted EPS was -$0.09. EBITDA for the full year was -$1.28M.
Analysts Ratings:
Reading analyst opinions is an effective way to decide where to invest, and there are several opinions available for CDIO since 0 analysts follow the stock currently. In the same way, a target price assigned to a stock can also reveal much about its potential. With CDIO analysts setting a high price target of $8.00 and a low target of $8.00, the average target price over the next 12 months is $8.00. Based on these targets, CDIO could surge 506.06% to reach the target high and rise by 506.06% to reach the target low. Reaching the average price target will result in a growth of 506.06% from current levels.
EPS: Estimates vs Actual
It is also common to use earnings estimates to evaluate a firm’s growth potential and to determine trading strategy.
Summary of Insider Activity:
Insiders traded CDIO stock several times over the past three months with 0 Buys and 0 Sells. In these transactions, 0 shares were bought while 0 shares were sold. The number of buy transactions has remained unchanged to 0 while that of sell transactions has risen to 1 over the past year. The total number of shares bought during that period was 0 while 1,565,000 shares were sold.
