Short Interest in Cardio Diagnostics Holdings, Inc. (NASDAQ:CDIO) Expands By 1,100.2%

Cardio Diagnostics Holdings, Inc. (NASDAQ:CDIO) was the target of a large increase in short interest during the month of September. As of September 30th, there was short interest totalling 2,800,000 shares, an increase of 1,100.2% from the September 15th total of 233,300 shares. Based on an average daily volume of 936,000 shares, the short-interest ratio is presently 3.0 days. Approximately 12.8% of the company’s stock are short sold.

Cardio Diagnostics Stock Up 2.8 %

CDIO traded up $0.01 on Friday, hitting $0.21. The company had a trading volume of 608,698 shares, compared to its average volume of 834,250. The company’s fifty day moving average price is $0.33 and its 200 day moving average price is $0.59. Cardio Diagnostics has a 1-year low of $0.17 and a 1-year high of $3.56.

Cardio Diagnostics (NASDAQ:CDIO) last issued its quarterly earnings data on Monday, August 12th. The company reported ($0.06) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.13) by $0.07. The business had revenue of $0.01 million during the quarter, compared to analysts’ expectations of $0.13 million. Cardio Diagnostics had a negative net margin of 22,358.43% and a negative return on equity of 312.97%. Research analysts forecast that Cardio Diagnostics will post -0.55 EPS for the current year.

Analyst Upgrades and Downgrades

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

About Cardio Diagnostics

Cardio Diagnostics Holdings, Inc, an artificial intelligence-powered precision cardiovascular medicine company, 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.