Short Interest in Cardio Diagnostics Holdings, Inc. (NASDAQ:CDIO) Decreases By 68.6%

Cardio Diagnostics Holdings, Inc. (NASDAQ:CDIO) was the target of a large decrease in short interest during the month of March. As of March 13th, there was short interest totaling 160,544 shares, a decrease of 68.6% from the February 26th total of 510,812 shares. Based on an average daily trading volume, of 845,133 shares, the short-interest ratio is presently 0.2 days. Approximately 6.3% of the shares of the company are short sold. Approximately 6.3% of the shares of the company are short sold. Based on an average daily trading volume, of 845,133 shares, the short-interest ratio is presently 0.2 days.

Analysts Set New Price Targets

Several research firms recently weighed in on CDIO. Weiss Ratings reiterated a “sell (d-)” rating on shares of Cardio Diagnostics in a research note on Monday, December 29th. Wall Street Zen raised Cardio Diagnostics to a “hold” rating in a report on Saturday. One research analyst has rated the stock with a Sell rating, Based on data from MarketBeat.com, the stock presently has a consensus rating of “Sell”.

Cardio Diagnostics Stock Performance

Shares of CDIO opened at $2.14 on Wednesday. The firm has a fifty day moving average of $2.67 and a 200-day moving average of $3.25. The company has a market cap of $6.33 million, a price-to-earnings ratio of -0.58 and a beta of 2.28. Cardio Diagnostics has a 1 year low of $0.97 and a 1 year high of $17.39.

Cardio Diagnostics (NASDAQ:CDIO) last released its quarterly earnings data on Friday, March 13th. The company reported ($0.80) earnings per share for the quarter. Cardio Diagnostics had a negative return on equity of 71.75% and a negative net margin of 40,612.50%. Analysts predict that Cardio Diagnostics will post -0.55 EPS for the current year.

Hedge Funds Weigh In On Cardio Diagnostics

A hedge fund recently raised its stake in Cardio Diagnostics stock. DRW Securities LLC increased its holdings in Cardio Diagnostics Holdings, Inc. (NASDAQ:CDIO) by 122.8% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 40,463 shares of the company’s stock after buying an additional 22,298 shares during the quarter. DRW Securities LLC owned about 2.21% of Cardio Diagnostics worth $110,000 at the end of the most recent reporting period. Hedge funds and other institutional investors own 8.06% of the company’s stock.

Cardio Diagnostics Company Profile

Cardio Diagnostics Holdings, Inc 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. Cardio Diagnostics Holdings, Inc was founded in 2017 and is headquartered in Chicago, Illinois.