Cardio Diagnostics Holdings, Inc. (NASDAQ:CDIO) Short Interest Up 53.1% in May

Cardio Diagnostics Holdings, Inc. (NASDAQ:CDIO) was the target of a significant growth in short interest in the month of May. As of May 31st, there was short interest totalling 85,900 shares, a growth of 53.1% from the May 15th total of 56,100 shares. Based on an average daily volume of 55,000 shares, the days-to-cover ratio is presently 1.6 days. Approximately 5.3% of the shares of the stock are sold short.

Institutional Trading of Cardio Diagnostics

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Two Sigma Securities LLC acquired a new position in shares of Cardio Diagnostics in the 4th quarter valued at about $48,000. Jane Street Group LLC bought a new position in shares of Cardio Diagnostics in the fourth quarter valued at approximately $103,000. Millennium Management LLC bought a new stake in Cardio Diagnostics during the fourth quarter worth $236,000. Finally, Geode Capital Management LLC grew its holdings in Cardio Diagnostics by 97.6% during the fourth quarter. Geode Capital Management LLC now owns 364,387 shares of the company’s stock worth $334,000 after buying an additional 179,978 shares in the last quarter. Institutional investors and hedge funds own 8.06% of the company’s stock.

Cardio Diagnostics Price Performance

CDIO stock opened at $4.06 on Monday. Cardio Diagnostics has a 12 month low of $3.40 and a 12 month high of $53.10. The firm has a 50-day moving average price of $8.07 and a 200-day moving average price of $14.49.

Cardio Diagnostics (NASDAQ:CDIO) last released its quarterly earnings data on Thursday, May 15th. The company reported ($0.97) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.06) by ($0.91). Cardio Diagnostics had a negative net margin of 22,732.03% and a negative return on equity of 258.85%. The firm had revenue of $0.00 million during the quarter, compared to analyst estimates of $0.05 million. On average, analysts anticipate that Cardio Diagnostics will post -0.55 earnings per share 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.