Short Interest in Cardio Diagnostics Holdings, Inc. (NASDAQ:CDIO) Increases By 423.2%

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

Cardio Diagnostics Stock Performance

Shares of CDIO stock traded up $0.32 during trading hours on Wednesday, reaching $2.15. The company had a trading volume of 131,779 shares, compared to its average volume of 1,662,314. The stock has a fifty day moving average of $1.86 and a 200-day moving average of $2.14. The company has a market capitalization of $6.36 million, a price-to-earnings ratio of -0.74 and a beta of 2.27. Cardio Diagnostics has a 12-month low of $0.97 and a 12-month high of $7.91.

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

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in CDIO. DRW Securities LLC grew 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 worth $110,000 after buying an additional 22,298 shares during the period. Citadel Advisors LLC acquired a new stake in shares of Cardio Diagnostics in the 3rd quarter worth approximately $79,000. Finally, Renaissance Technologies LLC purchased a new stake in Cardio Diagnostics during the first quarter worth $30,000. Institutional investors and hedge funds own 8.06% of the company’s stock.

Analyst Ratings Changes

Separately, Weiss Ratings reiterated 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, Cardio Diagnostics currently has an average rating of “Sell”.

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.