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

Cardio Diagnostics Holdings, Inc. (NASDAQ:CDIO) saw a significant drop in short interest during the month of October. As of October 15th, there was short interest totalling 1,020,000 shares, a drop of 63.6% from the September 30th total of 2,800,000 shares. Currently, 4.7% of the shares of the company are sold short. Based on an average trading volume of 1,210,000 shares, the days-to-cover ratio is currently 0.8 days.

Analyst Upgrades and Downgrades

Separately, Benchmark reissued a “speculative buy” rating and issued a $2.00 price target on shares of Cardio Diagnostics in a report on Tuesday, August 27th.

Cardio Diagnostics Stock Up 3.8 %

Shares of NASDAQ:CDIO opened at $0.22 on Monday. Cardio Diagnostics has a 12 month low of $0.17 and a 12 month high of $3.56. The company has a 50 day moving average of $0.28 and a 200 day moving average of $0.51.

Cardio Diagnostics (NASDAQ:CDIO) last posted its quarterly earnings data on Monday, August 12th. The company reported ($0.06) earnings per share for the quarter, beating the consensus estimate of ($0.13) by $0.07. Cardio Diagnostics had a negative net margin of 22,358.43% and a negative return on equity of 312.97%. The firm had revenue of $0.01 million for the quarter, compared to analysts’ expectations of $0.13 million. On average, research analysts expect that Cardio Diagnostics will post -0.55 earnings per share for the current fiscal year.

Cardio Diagnostics Company Profile

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.