Cardio Diagnostics Holdings, Inc. (NASDAQ:CDIO) Shares Shorted: Short Interest Up 193.6% in October

Cardio Diagnostics Holdings, Inc. (NASDAQ:CDIO) was the recipient of a large growth in short interest during the month of October. As of October 15th, there was short interest totaling 2,971 shares, a growth of 193.6% from the September 30th total of 1,012 shares. Currently, 0.1% of the company’s shares are sold short. Based on an average daily trading volume, of 31,943 shares, the short-interest ratio is presently 0.1 days.

Cardio Diagnostics Stock Performance

Shares of Cardio Diagnostics stock opened at $1.67 on Friday. The firm has a fifty day moving average of $1.87 and a two-hundred day moving average of $2.07. The stock has a market capitalization of $4.94 million, a price-to-earnings ratio of -0.57 and a beta of 2.29. Cardio Diagnostics has a 52 week low of $0.97 and a 52 week high of $7.91.

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

Hedge Funds Weigh In On Cardio Diagnostics

A hedge fund recently bought a new position in Cardio Diagnostics stock. Renaissance Technologies LLC bought a new position in shares of Cardio Diagnostics Holdings, Inc. (NASDAQ:CDIO) in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor bought 15,348 shares of the company’s stock, valued at approximately $30,000. Renaissance Technologies LLC owned approximately 0.52% of Cardio Diagnostics as of its most recent filing with the Securities and Exchange Commission. Hedge funds and other institutional investors own 8.06% of the company’s stock.

Analyst Ratings Changes

Separately, Weiss Ratings reissued a “sell (e+)” rating on shares of Cardio Diagnostics in a research note on Tuesday, September 8th. One equities research analyst has rated the stock with a Sell rating. According to MarketBeat.com, the company currently has an average rating of “Sell”.

About Cardio Diagnostics

Cardio Diagnostics Holdings, Inc is a biotechnology company developing artificial intelligence-powered precision medicine products for the prevention and management of cardiovascular disease. Its approach combines genetic, epigenetic and clinical information to help identify individuals at elevated risk and support more personalized care.

The company’s product portfolio includes Epi+Gen CHD, a blood-based test designed to assess an individual’s risk of developing coronary heart disease and provide information that may guide prevention strategies.