Short Interest in eHealth, Inc. (NASDAQ:EHTH) Drops By 53.8%

by · The Markets Daily

eHealth, Inc. (NASDAQ:EHTH – Get Free Report) was the recipient of a significant drop in short interest in June. As of June 30th, there was short interest totaling 711,729 shares, a drop of 53.8% from the June 15th total of 1,540,790 shares. Approximately 2.4% of the shares of the stock are short sold. Based on an average daily volume of 661,118 shares, the short-interest ratio is presently 1.1 days.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Millennium Management LLC increased its stake in eHealth by 74.3% during the first quarter. Millennium Management LLC now owns 705,704 shares of the financial services provider’s stock worth $4,714,000 after acquiring an additional 300,792 shares during the last quarter. Goldman Sachs Group Inc. lifted its stake in shares of eHealth by 38.5% in the 1st quarter. Goldman Sachs Group Inc. now owns 144,263 shares of the financial services provider’s stock valued at $964,000 after purchasing an additional 40,096 shares during the last quarter. Jane Street Group LLC boosted its holdings in shares of eHealth by 115.9% in the 1st quarter. Jane Street Group LLC now owns 234,894 shares of the financial services provider’s stock worth $1,569,000 after purchasing an additional 126,076 shares during the period. Geode Capital Management LLC boosted its holdings in shares of eHealth by 101.3% in the 2nd quarter. Geode Capital Management LLC now owns 711,762 shares of the financial services provider’s stock worth $3,097,000 after purchasing an additional 358,192 shares during the period. Finally, JPMorgan Chase & Co. increased its position in shares of eHealth by 13.0% during the 2nd quarter. JPMorgan Chase & Co. now owns 270,655 shares of the financial services provider’s stock valued at $1,177,000 after purchasing an additional 31,177 shares during the last quarter. Hedge funds and other institutional investors own 79.54% of the company’s stock.

eHealth Price Performance

Shares of NASDAQ:EHTH traded down $0.01 on Tuesday, reaching $1.57. The company’s stock had a trading volume of 40,889 shares, compared to its average volume of 600,377. eHealth has a 52-week low of $1.20 and a 52-week high of $5.89. The company has a market cap of $49.99 million, a P/E ratio of -1.64 and a beta of 1.48. The company has a 50-day simple moving average of $1.67 and a 200 day simple moving average of $2.09. The company has a debt-to-equity ratio of 0.20, a quick ratio of 3.67 and a current ratio of 3.67.

Wall Street Analysts Forecast Growth

A number of research firms recently commented on EHTH. Weiss Ratings reiterated a “sell (d)” rating on shares of eHealth in a research report on Monday, May 18th. Zacks Research raised eHealth from a “strong sell” rating to a “hold” rating in a research note on Tuesday, April 28th. Finally, Deutsche Bank Aktiengesellschaft reaffirmed a “hold” rating and issued a $3.00 price objective on shares of eHealth in a research note on Friday, May 8th. Five analysts have rated the stock with a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Reduce” and an average price target of $3.25.

Check Out Our Latest Report on EHTH

eHealth Company Profile

(Get Free Report)

eHealth, Inc operates one of the largest online private health insurance exchanges in the United States. The company’s platform enables consumers to compare, select and enroll in individual, family and small-group health insurance plans offered by a broad network of licensed insurance carriers. In addition to Affordable Care Act–compliant offerings, eHealth provides dedicated services for Medicare Advantage, Medicare Supplement and Medicare Part D prescription drug plans, helping seniors navigate the complexities of Medicare coverage.

Through its digital marketplace, eHealth delivers real-time quotes, detailed plan comparisons and enrollment processing.

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