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

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

Enhabit Stock Performance

EHAB stock remained flat at $8.76 during midday trading on Wednesday. The company had a trading volume of 120,995 shares, compared to its average volume of 575,846. The firm has a market cap of $439.40 million, a PE ratio of -5.28, a PEG ratio of 1.43 and a beta of 1.86. 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 firm has a 50-day simple moving average of $9.11 and a two-hundred day simple moving average of $9.83. Enhabit has a one year low of $7.12 and a one year high of $14.59.

Enhabit (NYSE:EHAB) last posted its quarterly earnings data on Wednesday, May 8th. The company reported $0.07 earnings per share for the quarter, topping analysts’ consensus estimates of $0.05 by $0.02. The company had revenue of $262.40 million during the quarter, compared to analysts’ expectations of $268.25 million. Enhabit had a negative net margin of 7.95% and a positive return on equity of 1.43%. On average, sell-side analysts predict that Enhabit will post 0.24 EPS for the current fiscal year.

Analysts Set New Price Targets

Several analysts recently commented on EHAB shares. Bank of America cut their price objective on Enhabit from $9.00 to $8.00 and set an “underperform” rating for the company in a report on Thursday, June 27th. SVB Leerink raised Enhabit from an “underperform” rating to a “market perform” rating and set a $8.50 price target for the company in a report on Tuesday, May 14th. UBS Group raised Enhabit from a “sell” rating to a “neutral” rating and set a $9.50 price target for the company in a report on Thursday, March 7th. Jefferies Financial Group lowered Enhabit from a “buy” rating to a “hold” rating and dropped their price objective for the stock from $14.00 to $8.75 in a research note on Thursday, May 9th. Finally, Leerink Partnrs raised Enhabit from a “strong sell” rating to a “hold” rating in a research note on Tuesday, May 14th. One research analyst has rated the stock with a sell rating and seven have given a hold rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $9.79.

Insider Activity

In related news, Director Jeffrey Bolton acquired 10,000 shares of the stock in a transaction on Friday, May 17th. The stock was acquired at an average price of $8.33 per share, for a total transaction of $83,300.00. Following the completion of the purchase, the director now owns 52,299 shares of the company’s stock, valued at $435,650.67. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders bought a total of 22,000 shares of company stock worth $183,700 in the last quarter. 1.90% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the business. DekaBank Deutsche Girozentrale lifted its stake in Enhabit by 39.0% in the first quarter. DekaBank Deutsche Girozentrale now owns 340,412 shares of the company’s stock worth $3,861,000 after acquiring an additional 95,488 shares during the last quarter. Kent Lake Capital LLC acquired a new stake in Enhabit during the first quarter worth approximately $5,183,000. Price T Rowe Associates Inc. MD raised its holdings in Enhabit by 5.8% during the first quarter. Price T Rowe Associates Inc. MD now owns 37,950 shares of the company’s stock worth $443,000 after purchasing an additional 2,078 shares in the last quarter. 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 purchasing an additional 12,362 shares in the last quarter. Finally, Orion Portfolio Solutions LLC raised its holdings in Enhabit by 72.5% during the first quarter. Orion Portfolio Solutions LLC now owns 96,833 shares of the company’s stock worth $1,128,000 after purchasing an additional 40,684 shares in the last quarter.

About Enhabit

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.