Cardio Diagnostics Holdings, Inc. (NASDAQ:CDIO) Sees Large Decline in Short Interest

Cardio Diagnostics Holdings, Inc. (NASDAQ:CDIO) was the target of a large drop in short interest in July. As of July 15th, there was short interest totaling 4,548 shares, a drop of 77.5% from the June 30th total of 20,244 shares. Approximately 0.2% of the shares of the stock are short sold. Based on an average trading volume of 29,911 shares, the days-to-cover ratio is presently 0.2 days.

Hedge Funds Weigh In On Cardio Diagnostics

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Renaissance Technologies LLC purchased a new position in Cardio Diagnostics during the 1st quarter worth approximately $30,000. Citadel Advisors LLC purchased a new stake in shares of Cardio Diagnostics in the third quarter valued at $79,000. Finally, DRW Securities LLC lifted its holdings 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 valued at $110,000 after purchasing an additional 22,298 shares in the last quarter. Institutional investors and hedge funds own 8.06% of the company’s stock.

Cardio Diagnostics Price Performance

NASDAQ CDIO traded up $0.07 on Monday, hitting $1.62. 93,810 shares of the company were exchanged, compared to its average volume of 1,801,084. Cardio Diagnostics has a twelve month low of $0.97 and a twelve month high of $7.91. The firm has a market capitalization of $4.80 million, a P/E ratio of -0.48 and a beta of 2.23. The company’s 50 day moving average price is $1.87 and its 200-day moving average price is $2.17.

Cardio Diagnostics (NASDAQ:CDIO) last announced its earnings results on Friday, May 15th. The company reported ($0.63) EPS for the quarter. Cardio Diagnostics had a negative return on equity of 78.82% and a negative net margin of 36,950.00%.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings restated a “sell (e+)” rating on shares of Cardio Diagnostics in a report on Thursday, June 11th. One research analyst has rated the stock with a Sell rating, Based on data from MarketBeat, the company currently has an average rating of “Sell”.

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.