In the last trading session, 1.76 million Cardio Diagnostics Holdings Inc (NASDAQ:CDIO) shares changed hands as the company’s beta touched 1.10. With the company’s per share price at $0.99 changed hands at -$0.01 or -1.00% during last session, the market valuation stood at $20.31M. CDIO’s last price was a discount, traded about -758.59% off its 52-week high of $8.50. The share price had its 52-week low at $0.17, which suggests the last value was 82.83% up since then. When we look at Cardio Diagnostics Holdings Inc’s average trading volume, we note the 10-day average is 39.63 million shares, with the 3-month average coming to 9.66 million.
Analysts gave the Cardio Diagnostics Holdings Inc (CDIO) stock a consensus recommendation rating of a Buy, calculated at a mean rating of 1.00. If we narrow down to specifics, the data shows that 0 out of 2 analysts rate the stock as a Sell, with a further 0 assigning it an Overweight rating. Of the remaining, 0 recommended CDIO as a Hold, 2 felt it is a Buy and 0 rated the stock as Underweight. Cardio Diagnostics Holdings Inc’s EPS for the current quarter is expected to be -$0.28.
Cardio Diagnostics Holdings Inc (NASDAQ:CDIO) trade information
Instantly CDIO was in red as seen at the end of in last trading. With action -2.94%, the performance over the past five days has been red. The drop to weekly highs of 1.2400 on Friday, 11/17/23 subtracted -1.00% to the stock’s daily price. The company’s shares are showing year-to-date downside of -6.60%, with the 5-day performance at -2.94% in the red. However, in the 30-day time frame, Cardio Diagnostics Holdings Inc (NASDAQ:CDIO) is 247.37% up. Looking at the short shares, we see there were 0.29 million shares sold at short interest cover period of 0.03 days.
The consensus price target for the stock as assigned by Wall Street analysts is $6.00, meaning bulls need an upside of 83.5% from its current market value. According to analyst projections, CDIO’s forecast low is $4.00 with $8.00 as the target high. To hit the forecast high, the stock’s price needs a -708.08% plunge from its current level, while the stock would need to soar -304.04% for it to hit the projected low.
Cardio Diagnostics Holdings Inc (CDIO) estimates and forecasts
Moreover, analysts have looked to lower expectations by upgrading its fiscal year 2023 revenue estimates. The rating firms predict current quarter revenue for Cardio Diagnostics Holdings Inc will fall -211.10%, while the growth in revenue is estimated to hit -72.70% for the next quarter.
Consensus estimates given by 1 financial analysts project the company’s revenue in the current quarter to hit an average of $250k. 1 analysts are of the opinion that Cardio Diagnostics Holdings Inc’s revenue for the quarter ending Mar 2024 will be $500k. The company’s revenue for the corresponding quarters a year ago was $1k. According to analysts, the company will likely register a growth in its current quarter sales, forecast at 24,900.00%.
The 2023 estimates are for Cardio Diagnostics Holdings Inc earnings to increase by 29.47%.
Cardio Diagnostics Holdings Inc is expected to release its next quarterly earnings report in December.
Cardio Diagnostics Holdings Inc (NASDAQ:CDIO)’s Major holders
If we look at who the major shareholders are, we find that insiders hold 35.80% of Cardio Diagnostics Holdings Inc shares while 3.36% of the shares are in the hands of institutional holders. The share float percentage for the stock currently stands at 5.23%. There are 3.36% institutions holding the Cardio Diagnostics Holdings Inc stock share, with Prelude Capital Management LLC the top institutional holder. As of Sep 29, 2023, the company held 0.59% of the shares, roughly 0.12 million CDIO shares worth $0.12 million.
Geode Capital Management, LLC holds the second largest percentage of outstanding shares, with 0.37% or 75483.0 shares worth $74728.0 as of Sep 29, 2023.
Among Mutual Funds, the top two as of Jun 29, 2023 were Vanguard Extended Market Index Fund and Fidelity Extended Market Index Fund. With 64022.0 shares estimated at $63381.0 under it, the former controlled 0.31% of total outstanding shares. On the other hand, Fidelity Extended Market Index Fund held about 0.19% of the shares, roughly 38118.0 shares worth around $37736.0.