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A Look At The Behavior Of Cardio Diagnostics Holdings Inc. (CDIO) Stock

Cardio Diagnostics Holdings Inc. (NASDAQ:CDIO) concluded the trading at $1.81 on Wednesday, November 23 with a fall of -10.84% from its closing price on previous day.

Taking a look at stock we notice that its last check on previous day was $2.03 with its price kept floating in the range of $1.76 and $2.1039 on the day. Considering stock’s 52-week price range provides that CDIO hit a high price of $10.25 and saw its price falling to a low level of $1.67 during that period. Over a period of past 1-month, stock came subtracting -69.78% in its value.

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With its current market valuation of $17.79 million. Analysts are in estimates of -$0.09 per share for company’s earnings in the current quarter and are expecting its annual EPS growth moving up to -$0.87 for 2022 with estimates of that growing to -$0.55 in next year.

Analysts watching the company’s growth closely have provided estimates for its revenue growth with an average revenue estimate of $400 million. They suggested that in the process company could generate revenue of as low as $400 million which could climb up to $400 million to hit a high.

In last 7 days, analysts came adjusting their opinions about stock’s EPS with no upward and no downward revisions, an indication which could give clearer idea about the company’s short term price movement.

Digging deeper we become aware of the PEG ratio of the CDIO stock which is currently positioned at 0. It further provides that stock’s current price level is -18.29% away from its 20-day simple moving average and is -73.06% off its SMA50. Its relative strength index (RSI) for 14-periods is oscillating at 24.61 while volatility remained at 24.03% over the past week which changes to 21.58% when measuring it over the past month. Average true range or ATR is currently at 0.60.

Having a second look at Cardio Diagnostics Holdings Inc. (NASDAQ:CDIO) provides that stock’s average daily trading volume for 3 months was 243.18K, while it jumped to 0.65 million when we calculate an average volume for past 10 days. Number of outstanding shares of the stock stood at 8.12 million.

The percentage of outstanding shares held by the insiders is 19.80% while it is 55.60% for the institutional holders. Subtraction of -81.57% by stock’s current price to its year-to-date value in last trading session is likely to be increasing investors’ interest in the stock as it is hinting an extended uptrend.

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