Cardiol Therapeutics (NASDAQ:CRDL) Receives "Sell (D-)" Rating from Weiss Ratings

Key Points

• Cardiol Therapeutics has received a "Sell (D-)" rating from Weiss Ratings, indicating poor performance expectations.
• Despite the negative rating from Weiss, Brookline Capital Management upgraded the stock to a "strong-buy," showcasing a divided analyst opinion.
• The company reported a loss of ($0.07) earnings per share for the last quarter, which beat analyst expectations but highlights ongoing financial struggles.

Cardiol Therapeutics (NASDAQ:CRDL - Get Free Report)'s stock had its "sell (d-)" rating restated by analysts at Weiss Ratings in a report issued on Wednesday,Weiss Ratings reports.

Separately, Brookline Capital Management raised shares of Cardiol Therapeutics to a "strong-buy" rating in a report on Wednesday, September 17th. Two investment analysts have rated the stock with a Strong Buy rating, two have given a Buy rating and one has assigned a Sell rating to the stock. According to MarketBeat, Cardiol Therapeutics currently has an average rating of "Buy" and a consensus price target of $8.00.

Cardiol Therapeutics Stock Performance

Shares of NASDAQ CRDL traded up $0.02 during trading hours on Wednesday, hitting $1.08. 484,411 shares of the stock were exchanged, compared to its average volume of 444,621. The company has a debt-to-equity ratio of 0.01, a current ratio of 2.46 and a quick ratio of 2.46. The company's 50 day moving average is $1.13 and its 200 day moving average is $1.17. The firm has a market capitalization of $92.82 million, a P/E ratio of -3.18 and a beta of 1.02. Cardiol Therapeutics has a one year low of $0.77 and a one year high of $2.24.

Cardiol Therapeutics (NASDAQ:CRDL - Get Free Report) last issued its quarterly earnings results on Thursday, August 14th. The company reported ($0.07) earnings per share for the quarter, beating analysts' consensus estimates of ($0.11) by $0.04. On average, research analysts expect that Cardiol Therapeutics will post -0.33 EPS for the current year.

Institutional Trading of Cardiol Therapeutics

Several institutional investors and hedge funds have recently added to or reduced their stakes in CRDL. Bank of America Corp DE increased its holdings in shares of Cardiol Therapeutics by 136.2% in the second quarter. Bank of America Corp DE now owns 26,455 shares of the company's stock valued at $36,000 after purchasing an additional 15,255 shares during the last quarter. Lion Street Advisors LLC raised its holdings in Cardiol Therapeutics by 8.5% in the 1st quarter. Lion Street Advisors LLC now owns 333,725 shares of the company's stock valued at $318,000 after buying an additional 26,059 shares during the last quarter. Thompson Davis & CO. Inc. bought a new position in Cardiol Therapeutics in the 2nd quarter valued at approximately $39,000. Tejara Capital Ltd raised its holdings in Cardiol Therapeutics by 2.2% during the 2nd quarter. Tejara Capital Ltd now owns 3,265,819 shares of the company's stock worth $4,442,000 after purchasing an additional 70,829 shares during the last quarter. Finally, Sheets Smith Investment Management bought a new position in Cardiol Therapeutics during the third quarter worth $152,000. 12.49% of the stock is owned by institutional investors.

Cardiol Therapeutics Company Profile

Cardiol Therapeutics Inc, a clinical-stage life sciences company, focuses on the research and development of anti-fibrotic and anti-inflammatory therapies for the treatment of heart diseases. Its lead product CardiolRx, which is in Phase II multi-national, randomized, double-blind, and placebo-controlled study to evaluate the efficacy and safety of CardiolRx in acute myocarditis, as well as for the treatment of recurrent pericarditis.

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