Streamline Health Solutions, Inc. (NASDAQ:STRM) Sees Large Growth in Short Interest

Streamline Health Solutions, Inc. (NASDAQ:STRM) was the recipient of a significant increase in short interest in the month of September. As of September 15th, there was short interest totalling 119,000 shares, an increase of 234.3% from the August 31st total of 35,600 shares. Based on an average daily volume of 183,800 shares, the short-interest ratio is presently 0.6 days.

Institutional Inflows and Outflows

A hedge fund recently raised its stake in Streamline Health Solutions stock. Austin Wealth Management LLC lifted its position in Streamline Health Solutions, Inc. (NASDAQ:STRM) by 100.2% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 935,519 shares of the company’s stock after purchasing an additional 468,242 shares during the quarter. Austin Wealth Management LLC owned approximately 1.59% of Streamline Health Solutions worth $402,000 at the end of the most recent quarter. Institutional investors and hedge funds own 31.74% of the company’s stock.

Streamline Health Solutions Stock Up 4.7 %

NASDAQ:STRM traded up $0.01 during trading hours on Friday, hitting $0.24. The company’s stock had a trading volume of 1,428,549 shares, compared to its average volume of 177,527. Streamline Health Solutions has a 52-week low of $0.14 and a 52-week high of $1.00. The company has a current ratio of 0.61, a quick ratio of 0.61 and a debt-to-equity ratio of 0.66. The stock has a market capitalization of $14.87 million, a P/E ratio of -0.72 and a beta of 1.62. The stock has a fifty day moving average of $0.43 and a 200-day moving average of $0.43.

Streamline Health Solutions’s stock is going to reverse split on the morning of Friday, October 4th. The 1-15 reverse split was announced on Thursday, September 26th. The number of shares owned by shareholders will be adjusted after the market closes on Thursday, October 3rd.

Streamline Health Solutions (NASDAQ:STRM) last posted its earnings results on Wednesday, September 11th. The company reported ($0.05) earnings per share for the quarter, missing the consensus estimate of ($0.04) by ($0.01). The business had revenue of $4.48 million for the quarter. Streamline Health Solutions had a negative return on equity of 44.85% and a negative net margin of 92.72%.

Analysts Set New Price Targets

STRM has been the subject of a number of analyst reports. StockNews.com began coverage on Streamline Health Solutions in a research report on Monday. They set a “sell” rating for the company. Craig Hallum upgraded shares of Streamline Health Solutions to a “strong-buy” rating in a report on Thursday, September 5th.

Streamline Health Solutions Company Profile

Streamline Health Solutions, Inc offers health information technology solutions and associated services for hospitals and health systems in the United States and Canada. The company offers RevID, an automated revenue reconciliation software; eValuator, a coding analysis platform; data comparison engine; coding and clinical documentation improvement (CDI) solutions, including CDI, abstracting, and physician query; and financial management solutions, such as accounts receivable management, denials management, claims processing, spend management, and audit management.