Cardio Diagnostics Holdings, Inc. (NASDAQ:CDIO) Short Interest Down 86.1% in March

Cardio Diagnostics Holdings, Inc. (NASDAQ:CDIO) was the recipient of a significant decline in short interest in the month of March. As of March 31st, there was short interest totaling 22,264 shares, a decline of 86.1% from the March 15th total of 160,544 shares. Approximately 0.9% of the company’s shares are short sold. Based on an average daily volume of 289,557 shares, the days-to-cover ratio is currently 0.1 days.

Cardio Diagnostics Price Performance

CDIO traded up $0.02 during trading on Friday, reaching $1.83. The company had a trading volume of 67,073 shares, compared to its average volume of 263,509. Cardio Diagnostics has a 12 month low of $0.97 and a 12 month high of $17.39. The business’s fifty day moving average price is $2.71 and its 200 day moving average price is $3.08. The company has a market cap of $5.42 million, a P/E ratio of -0.49 and a beta of 2.70.

Cardio Diagnostics (NASDAQ:CDIO) last announced its quarterly earnings results on Friday, March 13th. The company reported ($0.80) earnings per share for the quarter. Cardio Diagnostics had a negative net margin of 40,612.50% and a negative return on equity of 71.75%. As a group, sell-side analysts predict that Cardio Diagnostics will post -0.55 EPS for the current fiscal year.

Wall Street Analyst Weigh In

CDIO has been the subject of a number of analyst reports. Weiss Ratings restated a “sell (d-)” rating on shares of Cardio Diagnostics in a report on Monday, December 29th. Wall Street Zen upgraded shares of Cardio Diagnostics to a “hold” rating in a report on Saturday, March 21st. One equities research analyst has rated the stock with a Sell rating, Based on data from MarketBeat.com, the company presently has an average rating of “Sell”.

Institutional Inflows and Outflows

A hedge fund recently raised its stake in Cardio Diagnostics stock. DRW Securities LLC raised its stake in Cardio Diagnostics Holdings, Inc. (NASDAQ:CDIO) by 122.8% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 40,463 shares of the company’s stock after buying an additional 22,298 shares during the quarter. DRW Securities LLC owned about 2.21% of Cardio Diagnostics worth $110,000 at the end of the most recent reporting period. 8.06% of the stock is owned by 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.