Cardio Diagnostics Holdings, Inc. (NASDAQ:CDIO) Shares Shorted: Short Interest Down 77.7% in September

Cardio Diagnostics Holdings, Inc. (NASDAQ:CDIO) was the target of a significant decline in short interest during the month of September. As of September 15th, there was short interest totaling 5,259 shares, a decline of 77.7% from the August 31st total of 23,626 shares. Based on an average daily volume of 37,337 shares, the days-to-cover ratio is presently 0.1 days. Approximately 0.2% of the company’s stock are short sold.

Hedge Funds Weigh In On Cardio Diagnostics

An institutional investor recently bought a new stake in Cardio Diagnostics stock. Renaissance Technologies LLC acquired a new stake in shares of Cardio Diagnostics Holdings, Inc. (NASDAQ:CDIO) during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm acquired 15,348 shares of the company’s stock, valued at approximately $30,000. Renaissance Technologies LLC owned approximately 0.52% of Cardio Diagnostics at the end of the most recent quarter. 8.06% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Separately, Weiss Ratings restated a “sell (e+)” rating on shares of Cardio Diagnostics in a research note on Tuesday, September 8th. One investment analyst has rated the stock with a Sell rating, According to data from MarketBeat.com, the stock has a consensus rating of “Sell”.

Cardio Diagnostics Stock Performance

Cardio Diagnostics stock traded up $0.04 during mid-day trading on Friday, hitting $1.95. 38,594 shares of the company traded hands, compared to its average volume of 31,766. Cardio Diagnostics has a one year low of $0.97 and a one year high of $7.91. The stock has a market cap of $5.77 million, a price-to-earnings ratio of -0.67 and a beta of 2.28. The stock has a fifty day moving average price of $1.86 and a 200-day moving average price of $1.99.

Cardio Diagnostics (NASDAQ:CDIO) last posted its quarterly earnings data on Friday, August 7th. The company reported ($0.51) earnings per share for the quarter. Cardio Diagnostics had a negative net margin of 43,133.33% and a negative return on equity of 82.28%. The company had revenue of $0.01 million for the quarter.

About Cardio Diagnostics

Cardio Diagnostics Holdings, Inc is a biotechnology and medical technology company focused on the prevention and early detection of cardiovascular disease. The company combines artificial intelligence with genetic and epigenetic data to develop personalized tools intended to help identify cardiovascular risk and support more targeted care.

Its products include Epi+Gen CHD, a blood-based test designed to assess an individual’s risk of developing coronary heart disease, and PrecisionCHD, which is intended to help identify the presence of coronary heart disease.