TRxADE HEALTH, Inc. (NASDAQ:MEDS) Short Interest Up 464.2% in March

TRxADE HEALTH, Inc. (NASDAQ:MEDSGet Rating) was the recipient of a significant increase in short interest in the month of March. As of March 31st, there was short interest totalling 715,400 shares, an increase of 464.2% from the March 15th total of 126,800 shares. Approximately 21.6% of the company’s shares are short sold. Based on an average daily volume of 384,500 shares, the days-to-cover ratio is currently 1.9 days.

TRxADE HEALTH stock opened at $2.28 on Wednesday. The firm has a market capitalization of $18.65 million, a P/E ratio of -3.51 and a beta of 1.13. TRxADE HEALTH has a 1 year low of $1.64 and a 1 year high of $10.82. The business has a 50-day moving average of $2.03 and a 200-day moving average of $2.90.

TRxADE HEALTH (NASDAQ:MEDSGet Rating) last posted its earnings results on Monday, March 28th. The company reported ($0.10) earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.15) by $0.05. TRxADE HEALTH had a negative return on equity of 50.16% and a negative net margin of 53.76%. On average, equities research analysts expect that TRxADE HEALTH will post -0.32 EPS for the current fiscal year.

A number of analysts recently commented on MEDS shares. Maxim Group lowered their price objective on TRxADE HEALTH from $11.00 to $7.00 in a research report on Tuesday, March 29th. Zacks Investment Research lowered TRxADE HEALTH from a “buy” rating to a “hold” rating in a research report on Tuesday, January 4th.

Institutional investors and hedge funds have recently modified their holdings of the stock. International Assets Investment Management LLC acquired a new position in shares of TRxADE HEALTH in the 3rd quarter valued at approximately $71,000. Virtu Financial LLC acquired a new position in shares of TRxADE HEALTH in the 4th quarter valued at approximately $41,000. Susquehanna International Group LLP acquired a new position in shares of TRxADE HEALTH in the 4th quarter valued at approximately $50,000. Renaissance Technologies LLC acquired a new position in shares of TRxADE HEALTH in the 4th quarter valued at approximately $51,000. Finally, Citadel Advisors LLC acquired a new position in shares of TRxADE HEALTH in the 4th quarter valued at approximately $60,000. Institutional investors and hedge funds own 6.82% of the company’s stock.

TRxADE HEALTH Company Profile (Get Rating)

TRxADE HEALTH, Inc operates as a health services IT company in the United States. The company focuses on digitalizing the retail pharmacy experience by optimizing drug procurement, prescription journey, and patient engagement. It operates the TRxADE drug procurement marketplace, which fosters price transparency and serves approximately 11,800 members; and offers patient centric telehealth services under the Bonum Health brand name.

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