The Oncology Institute, Inc. (NASDAQ:TOI) Sees Significant Drop in Short Interest

The Oncology Institute, Inc. (NASDAQ:TOI) was the target of a large decline in short interest during the month of December. As of December 15th, there was short interest totalling 173,500 shares, a decline of 86.0% from the November 30th total of 1,240,000 shares. Approximately 0.5% of the shares of the company are sold short. Based on an average daily trading volume, of 1,640,000 shares, the short-interest ratio is presently 0.1 days.

Insiders Place Their Bets

In related news, Director Brad Hively bought 250,000 shares of the company’s stock in a transaction on Tuesday, November 26th. The shares were acquired at an average cost of $0.17 per share, for a total transaction of $42,500.00. Following the purchase, the director now directly owns 616,753 shares of the company’s stock, valued at approximately $104,848.01. The trade was a 68.17 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Insiders own 9.50% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of the stock. HighTower Advisors LLC increased its position in shares of Oncology Institute by 190.8% during the third quarter. HighTower Advisors LLC now owns 81,362 shares of the company’s stock worth $27,000 after acquiring an additional 53,382 shares during the last quarter. Renaissance Technologies LLC boosted its stake in shares of Oncology Institute by 142.3% during the 2nd quarter. Renaissance Technologies LLC now owns 339,400 shares of the company’s stock valued at $156,000 after buying an additional 199,300 shares during the last quarter. Finally, Tiff Advisory Services LLC increased its position in shares of Oncology Institute by 235.1% in the 2nd quarter. Tiff Advisory Services LLC now owns 1,418,685 shares of the company’s stock worth $653,000 after purchasing an additional 995,280 shares during the last quarter. 36.86% of the stock is currently owned by hedge funds and other institutional investors.

Oncology Institute Trading Up 15.3 %

Shares of TOI traded up $0.03 during trading on Thursday, reaching $0.26. 369,475 shares of the company traded hands, compared to its average volume of 538,060. The company has a quick ratio of 2.27, a current ratio of 2.49 and a debt-to-equity ratio of 5.91. The stock has a market cap of $19.46 million, a PE ratio of -0.33 and a beta of 0.43. The stock has a 50-day simple moving average of $0.24 and a 200-day simple moving average of $0.35. Oncology Institute has a twelve month low of $0.13 and a twelve month high of $2.50.

About Oncology Institute

The Oncology Institute, Inc, an oncology company, provides various medical oncology services in the United States. The company operates through three segments: Dispensary, Patient Services, and Clinical Trials & Other. It offers physician services, in-house infusion and dispensary, clinical trial, radiation, outpatient blood product transfusion, and patient support services, as well as educational seminars, support groups, and counseling services.