Cardio Diagnostics Holdings, Inc. (NASDAQ:CDIO) Short Interest Up 196.5% in September

Cardio Diagnostics Holdings, Inc. (NASDAQ:CDIO) was the recipient of a significant increase in short interest in the month of September. As of September 15th, there was short interest totaling 51,300 shares, an increase of 196.5% from the August 31st total of 17,300 shares. Approximately 3.1% of the company’s shares are short sold. Based on an average daily volume of 35,000 shares, the days-to-cover ratio is currently 1.5 days. Based on an average daily volume of 35,000 shares, the days-to-cover ratio is currently 1.5 days. Approximately 3.1% of the company’s shares are short sold.

Institutional Inflows and Outflows

A hedge fund recently bought a new stake in Cardio Diagnostics stock. Jane Street Group LLC purchased a new stake in Cardio Diagnostics Holdings, Inc. (NASDAQ:CDIO) in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor purchased 112,564 shares of the company’s stock, valued at approximately $103,000. Jane Street Group LLC owned 0.28% of Cardio Diagnostics as of its most recent SEC filing. Institutional investors and hedge funds own 8.06% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on CDIO shares. Wall Street Zen upgraded shares of Cardio Diagnostics from a “sell” rating to a “hold” rating in a report on Saturday, August 16th. Weiss Ratings restated a “sell (e+)” rating on shares of Cardio Diagnostics in a report on Saturday, September 27th. One research analyst has rated the stock with a Sell rating, According to data from MarketBeat, Cardio Diagnostics has an average rating of “Sell”.

Cardio Diagnostics Trading Up 7.1%

Cardio Diagnostics stock opened at $4.55 on Friday. Cardio Diagnostics has a twelve month low of $3.22 and a twelve month high of $53.10. The company has a 50 day moving average of $3.88 and a 200-day moving average of $6.08.

Cardio Diagnostics (NASDAQ:CDIO) last released its quarterly earnings results on Thursday, August 14th. The company reported ($0.97) earnings per share for the quarter, beating the consensus estimate of ($1.80) by $0.83. The company had revenue of $0.01 million during the quarter, compared to analysts’ expectations of $0.08 million. Cardio Diagnostics had a negative net margin of 30,465.10% and a negative return on equity of 72.78%. As a group, analysts anticipate that Cardio Diagnostics will post -0.55 EPS for the current fiscal year.

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.