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

Cardio Diagnostics Holdings, Inc. (NASDAQ:CDIOGet Free Report) was the recipient of a large decline in short interest in May. As of May 31st, there was short interest totalling 529,300 shares, a decline of 59.3% from the May 15th total of 1,300,000 shares. Currently, 2.8% of the company’s stock are sold short. Based on an average daily volume of 507,100 shares, the days-to-cover ratio is currently 1.0 days.

Institutional Inflows and Outflows

A hedge fund recently bought a new stake in Cardio Diagnostics stock. Vontobel Holding Ltd. acquired a new position in shares of Cardio Diagnostics Holdings, Inc. (NASDAQ:CDIOFree Report) in the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor acquired 12,000 shares of the company’s stock, valued at approximately $30,000. Vontobel Holding Ltd. owned approximately 0.06% of Cardio Diagnostics as of its most recent filing with the SEC. Hedge funds and other institutional investors own 8.06% of the company’s stock.

Analyst Upgrades and Downgrades

Separately, Benchmark boosted their target price on Cardio Diagnostics from $1.35 to $2.00 and gave the stock a “speculative buy” rating in a research note on Thursday, June 6th.

Get Our Latest Report on Cardio Diagnostics

Cardio Diagnostics Trading Up 1.1 %

CDIO traded up $0.01 on Wednesday, hitting $0.60. 102,675 shares of the company were exchanged, compared to its average volume of 873,152. Cardio Diagnostics has a twelve month low of $0.17 and a twelve month high of $3.56. The firm has a 50-day moving average price of $0.82 and a two-hundred day moving average price of $1.52.

About Cardio Diagnostics

(Get Free Report)

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.

Further Reading

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