Tuesday, May 17, 2011

The Benchmark Company Analysts Downgrade NewCardio (NWCI) Shares to “Hold” May 17th, 2011

Equities research analysts at The Benchmark Company downgraded shares of NewCardio (NASDAQ: NWCI) from a “buy” rating to a “hold” rating in a research note to investors on Monday.

NewCardio, Inc. (NewCardio), through its wholly owned subsidiary, NewCardio Technologies, Inc. (NewCardio Technologies), operates as a development-stage cardiac diagnostic technology provider focused on the research, development and commercialization of products and services for the non-invasive diagnosis and monitoring of cardiovascular disease (CVD), as well as the cardiac safety assessment of new drugs under development. The Company is focused on the development of a platform technology for its products, which will improve the diagnostic accuracy and value of the standard 12-lead electrocardiogram (ECG). The Company’s core technology platform provides real-time, three-dimensional (3D) analysis of the heart’s electrical activity, as detected at the body surface by standard 12-lead ECG electrodes. ECG input signals are typically sampled at 500 hertz (500 times per second).