AdaptHealth Corp. (NASDAQ:AHCO) Short Interest Update

AdaptHealth Corp. (NASDAQ:AHCO) was the target of a large growth in short interest in the month of August. As of August 31st, there was short interest totalling 8,000,000 shares, a growth of 6.2% from the August 15th total of 7,530,000 shares. Based on an average daily trading volume, of 1,110,000 shares, the days-to-cover ratio is presently 7.2 days. Approximately 9.7% of the company’s stock are short sold.

AdaptHealth Stock Up 0.5 %

Shares of AdaptHealth stock opened at $11.49 on Wednesday. The company has a quick ratio of 0.94, a current ratio of 1.15 and a debt-to-equity ratio of 1.38. The company has a market cap of $1.53 billion, a P/E ratio of -2.18, a PEG ratio of 1.75 and a beta of 1.10. The firm’s 50 day moving average price is $10.70 and its 200-day moving average price is $10.42. AdaptHealth has a 52-week low of $6.37 and a 52-week high of $11.90.

AdaptHealth (NASDAQ:AHCO) last issued its quarterly earnings results on Tuesday, August 6th. The company reported $0.13 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.19 by ($0.06). The business had revenue of $805.98 million for the quarter, compared to analyst estimates of $802.62 million. AdaptHealth had a positive return on equity of 9.58% and a negative net margin of 21.20%. The business’s revenue for the quarter was up 1.6% on a year-over-year basis. During the same period in the previous year, the company posted $0.16 earnings per share. On average, sell-side analysts predict that AdaptHealth will post 0.87 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Separately, Royal Bank of Canada reaffirmed an “outperform” rating and set a $13.00 target price on shares of AdaptHealth in a research report on Monday, August 12th. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating and three have given a buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $10.70.

Insiders Place Their Bets

In other news, Director David Solomon Williams III sold 4,000 shares of the firm’s stock in a transaction on Thursday, August 29th. The stock was sold at an average price of $11.26, for a total transaction of $45,040.00. Following the transaction, the director now owns 36,899 shares in the company, valued at $415,482.74. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Company insiders own 4.43% of the company’s stock.

Institutional Investors Weigh In On AdaptHealth

Several institutional investors have recently added to or reduced their stakes in the business. GAMMA Investing LLC raised its position in shares of AdaptHealth by 197.1% in the 1st quarter. GAMMA Investing LLC now owns 2,537 shares of the company’s stock valued at $29,000 after purchasing an additional 1,683 shares during the last quarter. Covestor Ltd increased its stake in AdaptHealth by 279.6% during the 1st quarter. Covestor Ltd now owns 3,109 shares of the company’s stock valued at $36,000 after purchasing an additional 2,290 shares in the last quarter. Canada Pension Plan Investment Board acquired a new position in AdaptHealth during the 2nd quarter valued at approximately $58,000. Blue Trust Inc. acquired a new stake in shares of AdaptHealth during the second quarter worth $85,000. Finally, Innealta Capital LLC purchased a new stake in shares of AdaptHealth during the second quarter valued at $101,000. Institutional investors and hedge funds own 82.67% of the company’s stock.

About AdaptHealth

AdaptHealth Corp., together with its subsidiaries, sells home medical equipment (HME), medical supplies, and home and related services in the United States. The company provides sleep therapy equipment, supplies, and related services, such as CPAP and bi-PAP services to individuals suffering from obstructive sleep apnea; medical devices and supplies, including continuous glucose monitors and insulin pumps for the treatment of diabetes; HME to patients discharged from acute care and other facilities; oxygen and related chronic therapy services in the home; and other HME devices and supplies on behalf of chronically ill patients with wound care, urological, incontinence, ostomy, and nutritional supply needs.