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

Cardio Diagnostics Holdings, Inc. (NASDAQ:CDIO) was the target of a significant drop in short interest during the month of May. As of May 15th, there was short interest totaling 19,000 shares, a drop of 59.4% from the April 30th total of 46,815 shares. Based on an average trading volume of 85,097 shares, the short-interest ratio is currently 0.2 days. Approximately 0.7% of the shares of the stock are short sold.

Cardio Diagnostics Stock Performance

Shares of CDIO stock traded up $0.09 on Friday, reaching $1.89. The stock had a trading volume of 60,187 shares, compared to its average volume of 76,448. The stock has a market cap of $5.59 million, a P/E ratio of -0.56 and a beta of 2.30. The company has a 50 day simple moving average of $1.86 and a 200 day simple moving average of $2.52. Cardio Diagnostics has a 1 year low of $0.97 and a 1 year high of $7.91.

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

Wall Street Analysts Forecast Growth

Separately, Wall Street Zen upgraded shares of Cardio Diagnostics to a “hold” rating in a report on Saturday, March 21st. One research analyst has rated the stock with a Sell rating, According to MarketBeat.com, the company has a consensus rating of “Sell”.

Hedge Funds Weigh In On Cardio Diagnostics

A number of institutional investors and hedge funds have recently made changes to their positions in the business. DRW Securities LLC increased its position in Cardio Diagnostics by 122.8% during the fourth quarter. DRW Securities LLC now owns 40,463 shares of the company’s stock valued at $110,000 after acquiring an additional 22,298 shares during the last quarter. Citadel Advisors LLC purchased a new position in shares of Cardio Diagnostics during the third quarter valued at approximately $79,000. Finally, Renaissance Technologies LLC bought a new position in shares of Cardio Diagnostics during the first quarter valued at approximately $30,000. 8.06% of the stock is owned by hedge funds and other institutional investors.

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.