Cardio Diagnostics (NASDAQ:CDIO) Issues Earnings Results, Beats Expectations By $0.07 EPS

Cardio Diagnostics (NASDAQ:CDIO) released its quarterly earnings results on Monday. The company reported ($0.06) EPS for the quarter, beating the consensus estimate of ($0.13) by $0.07, Zacks reports. Cardio Diagnostics had a negative net margin of 34,911.87% and a negative return on equity of 415.33%. The company had revenue of $0.01 million for the quarter, compared to analyst estimates of $0.13 million.

Cardio Diagnostics Stock Performance

NASDAQ CDIO remained flat at $0.42 on Wednesday. 41,673 shares of the company traded hands, compared to its average volume of 700,611. The company’s 50-day moving average price is $0.53 and its two-hundred day moving average price is $0.99. Cardio Diagnostics has a 12 month low of $0.17 and a 12 month high of $3.56.

Wall Street Analyst Weigh In

Separately, Benchmark upped their price target on Cardio Diagnostics from $1.35 to $2.00 and gave the stock a “speculative buy” rating in a report on Thursday, June 6th.

About Cardio Diagnostics

Cardio Diagnostics Holdings, Inc, an artificial intelligence-powered precision cardiovascular medicine company, develops and commercializes epigenetics-based clinical tests for cardiovascular disease. It offers Epi+Gen CHD, a three-year symptomatic coronary heart disease (CHD) risk assessment test targeting CHD events, including heart attacks; and PrecisionCHD, an integrated epigenetic-genetic blood test for the early detection of coronary heart disease.