Enhabit, Inc. (NYSE:EHAB) Sees Large Increase in Short Interest

Posted by Defense World Staff on Jul 18th, 2023

Enhabit, Inc. (NYSE:EHAB – Get Free Report) was the recipient of a significant growth in short interest in the month of June. As of June 30th, there was short interest totalling 5,710,000 shares, a growth of 24.9% from the June 15th total of 4,570,000 shares. Based on an average daily volume of 665,300 shares, the days-to-cover ratio is currently 8.6 days. Approximately 11.6% of the shares of the company are short sold.

Insiders Place Their Bets

In other news, Director L Edward Shaw, Jr. purchased 10,000 shares of the stock in a transaction dated Monday, May 22nd. The shares were purchased at an average cost of $11.98 per share, with a total value of $119,800.00. Following the completion of the acquisition, the director now owns 38,989 shares in the company, valued at approximately $467,088.22. The transaction was disclosed in a document filed with the SEC, which is available at this link. Insiders acquired 24,000 shares of company stock worth $286,520 over the last quarter. 1.90% of the stock is currently owned by company insiders.

Institutional Trading of Enhabit

Several large investors have recently added to or reduced their stakes in EHAB. BlackRock Inc. bought a new stake in Enhabit in the third quarter valued at $97,492,000. Vanguard Group Inc. bought a new stake in Enhabit in the third quarter valued at $77,886,000. State Street Corp bought a new stake in Enhabit in the third quarter valued at $22,827,000. Deutsche Bank AG boosted its holdings in Enhabit by 976.7% in the fourth quarter. Deutsche Bank AG now owns 1,487,331 shares of the company’s stock valued at $19,573,000 after acquiring an additional 1,349,187 shares in the last quarter. Finally, AQR Capital Management LLC boosted its holdings in Enhabit by 1,400.6% in the fourth quarter. AQR Capital Management LLC now owns 870,357 shares of the company’s stock valued at $11,315,000 after acquiring an additional 812,358 shares in the last quarter. Institutional investors own 95.65% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on EHAB. SVB Securities started coverage on shares of Enhabit in a report on Tuesday, June 20th. They issued an “underperform” rating and a $10.00 price target on the stock. SVB Leerink reaffirmed an “underperform” rating on shares of Enhabit in a research note on Tuesday, June 20th. Finally, Citigroup lowered their target price on shares of Enhabit from $18.00 to $15.00 in a research note on Friday, May 12th. Three research analysts have rated the stock with a sell rating, five have given a hold rating and two have issued a buy rating to the stock. According to data from MarketBeat.com, Enhabit presently has an average rating of “Hold” and an average price target of $15.38.

Enhabit Stock Down 0.2 %

Shares of Enhabit stock opened at $12.61 on Tuesday. The company has a debt-to-equity ratio of 0.71, a quick ratio of 1.57 and a current ratio of 1.57. Enhabit has a 52-week low of $10.51 and a 52-week high of $19.48. The stock has a market capitalization of $631.76 million and a price-to-earnings ratio of 16.17. The company’s 50 day moving average price is $12.17 and its 200-day moving average price is $13.31.

Enhabit (NYSE:EHAB – Get Free Report) last issued its earnings results on Tuesday, May 9th. The company reported $0.09 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.12 by ($0.03). Enhabit had a return on equity of 6.59% and a net margin of 3.64%. The firm had revenue of $265.10 million during the quarter, compared to the consensus estimate of $271.88 million. Equities research analysts forecast that Enhabit will post 0.66 EPS for the current year.

Enhabit Company Profile

(Get Free Report)

Enhabit, Inc provides home health and hospice services in the United States. Its home health services include patient education, pain management, wound care and dressing changes, cardiac rehabilitation, infusion therapy, pharmaceutical administration, and skilled observation and assessment services; practices to treat chronic diseases and conditions, including diabetes, hypertension, arthritis, Alzheimer's disease, low vision, spinal stenosis, Parkinson's disease, osteoporosis, complex wound care and chronic pain, along with disease-specific plans for patients with diabetes, congestive heart failure, post-orthopedic surgery, or injury and respiratory diseases; and physical, occupational and speech therapists provide therapy services.