Enhabit, Inc. (NYSE:EHAB) Short Interest Up 11.2% in June

Enhabit, Inc. (NYSE:EHAB) saw a significant growth in short interest in June. As of June 15th, there was short interest totalling 3,380,000 shares, a growth of 11.2% from the May 31st total of 3,040,000 shares. Approximately 6.9% of the company’s stock are short sold. Based on an average trading volume of 502,700 shares, the short-interest ratio is presently 6.7 days.

Analyst Upgrades and Downgrades

Several research firms recently commented on EHAB. Jefferies Financial Group downgraded Enhabit from a “buy” rating to a “hold” rating and cut their target price for the stock from $14.00 to $8.75 in a research report on Thursday, May 9th. Bank of America cut their target price on shares of Enhabit from $9.00 to $8.00 and set an “underperform” rating for the company in a research note on Thursday, June 27th. Leerink Partnrs upgraded Enhabit from a “strong sell” rating to a “hold” rating in a research report on Tuesday, May 14th. SVB Leerink raised shares of Enhabit from an “underperform” rating to a “market perform” rating and set a $8.50 price target on the stock in a research note on Tuesday, May 14th. Finally, Oppenheimer reaffirmed a “market perform” rating on shares of Enhabit in a report on Thursday, March 7th. One analyst has rated the stock with a sell rating and seven have issued a hold rating to the company. Based on data from MarketBeat, Enhabit currently has an average rating of “Hold” and an average target price of $9.79.

Insider Transactions at Enhabit

In related news, Director Jeffrey Bolton acquired 10,000 shares of the stock in a transaction dated Friday, May 10th. The shares were acquired at an average price of $8.24 per share, with a total value of $82,400.00. Following the acquisition, the director now owns 42,299 shares in the company, valued at approximately $348,543.76. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Insiders have acquired a total of 22,000 shares of company stock worth $183,700 in the last 90 days. 1.90% of the stock is owned by insiders.

Hedge Funds Weigh In On Enhabit

A number of hedge funds have recently bought and sold shares of EHAB. Gladius Capital Management LP bought a new stake in Enhabit in the fourth quarter valued at $42,000. Allspring Global Investments Holdings LLC bought a new position in shares of Enhabit in the 1st quarter worth $44,000. ProShare Advisors LLC bought a new stake in Enhabit during the 1st quarter valued at $118,000. Family Firm Inc. bought a new stake in Enhabit during the 1st quarter valued at $124,000. Finally, Covestor Ltd raised its holdings in Enhabit by 1,130.0% during the first quarter. Covestor Ltd now owns 13,456 shares of the company’s stock worth $157,000 after buying an additional 12,362 shares during the last quarter.

Enhabit Price Performance

NYSE EHAB remained flat at $8.76 during trading on Wednesday. 120,995 shares of the company were exchanged, compared to its average volume of 575,846. Enhabit has a 52-week low of $7.12 and a 52-week high of $14.59. The company has a current ratio of 1.50, a quick ratio of 1.50 and a debt-to-equity ratio of 0.75. The company has a market capitalization of $439.40 million, a price-to-earnings ratio of -5.28, a price-to-earnings-growth ratio of 1.43 and a beta of 1.86. The firm’s fifty day moving average is $9.11 and its 200-day moving average is $9.83.

Enhabit (NYSE:EHAB) last announced its quarterly earnings results on Wednesday, May 8th. The company reported $0.07 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.05 by $0.02. The company had revenue of $262.40 million during the quarter, compared to analyst estimates of $268.25 million. Enhabit had a negative net margin of 7.95% and a positive return on equity of 1.43%. Analysts anticipate that Enhabit will post 0.24 EPS for the current fiscal year.

Enhabit Company Profile

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.