Short Interest in Sharecare, Inc. (NASDAQ:SHCR) Drops By 14.9%

Sharecare, Inc. (NASDAQ:SHCR) was the recipient of a large drop in short interest in the month of June. As of June 15th, there was short interest totalling 16,522,800 shares, a drop of 14.9% from the May 31st total of 19,420,000 shares. Based on an average daily volume of 3,695,700 shares, the days-to-cover ratio is currently 4.5 days. Approximately 5.7% of the company’s stock are short sold.

Analysts Set New Price Targets

Several analysts have issued reports on the company. Canaccord Genuity Group downgraded Sharecare from a “strong-buy” rating to a “hold” rating in a research note on Friday, June 21st. BTIG Research downgraded Sharecare from a “buy” rating to a “neutral” rating in a research note on Monday, April 1st. Morgan Stanley lifted their price target on Sharecare from $1.00 to $1.43 and gave the company an “equal weight” rating in a research note on Monday, June 24th. Finally, Canaccord Genuity Group reissued a “hold” rating and issued a $1.43 price target (down previously from $2.00) on shares of Sharecare in a research note on Friday, June 21st.

Sharecare Stock Up 2.2 %

Shares of NASDAQ:SHCR traded up $0.03 during midday trading on Monday, reaching $1.38. The company had a trading volume of 2,700,167 shares, compared to its average volume of 2,799,542. The business’s 50 day moving average price is $0.87 and its 200 day moving average price is $0.92. The stock has a market cap of $500.13 million, a PE ratio of -3.73 and a beta of 0.49. Sharecare has a 1-year low of $0.48 and a 1-year high of $1.80.

Sharecare (NASDAQ:SHCR) last released its earnings results on Thursday, May 9th. The company reported ($0.08) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.04) by ($0.04). The company had revenue of $90.86 million during the quarter, compared to analyst estimates of $103.80 million. Sharecare had a negative net margin of 30.71% and a negative return on equity of 19.78%. During the same period in the prior year, the firm posted ($0.06) EPS. On average, research analysts expect that Sharecare will post -0.23 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Sharecare

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Cadent Capital Advisors LLC bought a new position in Sharecare during the fourth quarter worth about $25,000. Tower Research Capital LLC TRC grew its holdings in Sharecare by 130.8% during the fourth quarter. Tower Research Capital LLC TRC now owns 40,806 shares of the company’s stock worth $44,000 after purchasing an additional 23,129 shares during the period. Truist Financial Corp bought a new position in Sharecare during the fourth quarter worth about $29,000. Bfsg LLC bought a new position in Sharecare during the fourth quarter worth about $41,000. Finally, Swiss National Bank grew its holdings in Sharecare by 7.6% during the third quarter. Swiss National Bank now owns 667,733 shares of the company’s stock worth $628,000 after purchasing an additional 47,200 shares during the period. Institutional investors own 35.08% of the company’s stock.

About Sharecare

Sharecare, Inc operates as a digital healthcare platform company. Its Sharecare platform connects people, patients, providers, employers, health plans, government organizations, and communities that optimize individual and population-wide well-being. The company offers enterprise solutions based on a software-as-a-service model that allows enterprise clients to message, motivate, and manage their populations, as well as measure their population progress; a suite of data and information-driven solutions; and life sciences solutions, which provides members with personalized information, programs, and resources to improve their health and well-being.