Prelude Capital Management LLC recently announced the acquisition of new stake in Cardio Diagnostics Holdings Inc (NASDAQ:CDIO). The institutional investor has increased its shareholding in the Healthcare company by 10.00% to 0.12 million shares with purchase of 11000.0 shares. This fresh investment now brings its stake to 0.59% valued currently at $0.25 million. In addition, Two Sigma Securities LLC raised its holdings by 32245.0 to 32245.0 shares.
With over 17.58 million Cardio Diagnostics Holdings Inc (CDIO) shares trading Tuesday and a closing price of $3.06 on the day, the dollar volume was approximately $53.79 million. The shares have shown a positive half year performance of 155.00% and its price on 01/02/24 gained nearly 22.89%. Currently, there are 20.52M common shares owned by the public and among those 16.71M shares have been available to trade.
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Insiders at the company have transacted a total of 23 times over the past 12 months, according to data filed with the U.S. Securities and Exchange Commission (SEC). 23 of these insider trades were purchases, accounting for 438,095 shares. Insider sales of the common stock occurred on 0 occasions, with total insider shares sold totaling 0 shares.
The top 3 mutual fund holders in Cardio Diagnostics Holdings Inc are Vanguard Extended Market Index Fu, Fidelity Extended Market Index Fu, and EHP Global Arbitrage Alternative. Vanguard Extended Market Index Fu owns 64022.0 shares of the company’s stock, all valued at over $0.13 million. EHP Global Arbitrage Alternative bought 25000.0 shares to bring its total holdings to over 25000.0 shares at a value of $51000.0. EHP Global Arbitrage Alternative now owns shares totaling to 0.12% of the shares outstanding.
Shares of Cardio Diagnostics Holdings Inc (NASDAQ: CDIO) opened at $2.51, up $0.02 from a prior closing price of $2.49. However, the script later moved the day high at 3.5600, up 22.89%. The company’s stock has a 5-day price change of 34.80% and 800.00% over the past three months. CDIO shares are trading 22.89% year to date (YTD), with the 12-month market performance up to 197.09% higher. It has a 12-month low price of $0.17 and touched a high of $8.50 over the same period. CDIO has an average intraday trading volume of 14.17 million shares. The stock is trading above its simple moving averages at the SMA20, SMA50, and SMA200, as the current price level is off by 64.08%, 122.06%, and 110.33% respectively.
Institutional ownership of Cardio Diagnostics Holdings Inc (NASDAQ: CDIO) shares accounts for 2.32% of the company’s 20.52M shares outstanding. Mutual fund holders own 1.55%, while other institutional holders and individual stakeholders account for 17.95% and 0.77% respectively.
It has a market capitalization of $62.79M and a beta (3y monthly) value of 5.62. The earnings-per-share (ttm) stands at -$1.10. Price movements for the stock have been influenced by the stock’s volatility, which stands at 19.18% over the week and 22.66% over the month.
Analysts forecast that Cardio Diagnostics Holdings Inc (CDIO) will achieve an EPS of -$0.27 for the current quarter, -$0.16 for the next quarter and -$0.74 for 2024. The lowest estimate earnings-per-share for the quarter is -$0.4 while analysts give the company a high EPS estimate of -$0.14. Comparatively, EPS for the current quarter was -$0.09 a year ago. Earnings per share for the fiscal year are expected to increase by 47.02%, and 8.75% over the next financial year.
If you are looking to buy this stock, then you may note that the average analyst recommendation by 1 brokerage firm advisors rate Cardio Diagnostics Holdings Inc (CDIO) as a “Strong Buy” at a consensus score of 1.00. Specifically, 1 Wall Street analysts polled rate the stock as a buy, while 0 of the 1 advise that investors “hold,” and 0 rated it as a “Sell.”
