Cardio Diagnostics Holdings, Inc. (NASDAQ:CDIO) Sees Significant Increase in Short Interest

Cardio Diagnostics Holdings, Inc. (NASDAQ:CDIO) saw a significant growth in short interest in July. As of July 31st, there was short interest totaling 23,793 shares, a growth of 423.2% from the July 15th total of 4,548 shares. Based on an average daily trading volume, of 127,966 shares, the days-to-cover ratio is currently 0.2 days. Currently, 0.9% of the company’s shares are sold short.

Analysts Set New Price Targets

Separately, Weiss Ratings reissued a “sell (e+)” rating on shares of Cardio Diagnostics in a research report on Thursday, June 11th. One analyst has rated the stock with a Sell rating, According to MarketBeat.com, Cardio Diagnostics has a consensus rating of “Sell”.

Hedge Funds Weigh In On Cardio Diagnostics

Several institutional investors and hedge funds have recently bought and sold shares of CDIO. DRW Securities LLC lifted its position in shares of Cardio Diagnostics by 122.8% in the fourth quarter. DRW Securities LLC now owns 40,463 shares of the company’s stock worth $110,000 after purchasing an additional 22,298 shares in the last quarter. Citadel Advisors LLC acquired a new stake in shares of Cardio Diagnostics during the third quarter worth approximately $79,000. Finally, Renaissance Technologies LLC acquired a new stake in shares of Cardio Diagnostics during the first quarter worth approximately $30,000. Hedge funds and other institutional investors own 8.06% of the company’s stock.

Cardio Diagnostics Stock Up 2.0%

Shares of CDIO traded up $0.04 during mid-day trading on Friday, reaching $2.05. The company’s stock had a trading volume of 2,125 shares, compared to its average volume of 1,642,957. The business has a fifty day moving average of $1.86 and a 200 day moving average of $2.14. The company has a market cap of $6.07 million, a price-to-earnings ratio of -0.70 and a beta of 2.27. Cardio Diagnostics has a 1 year low of $0.97 and a 1 year high of $7.91.

Cardio Diagnostics (NASDAQ:CDIO) last issued its earnings results on Friday, August 7th. The company reported ($0.51) EPS for the quarter. The business had revenue of $0.01 million during the quarter. Cardio Diagnostics had a negative return on equity of 80.78% and a negative net margin of 43,133.33%.

About Cardio Diagnostics

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.