Short Interest in CareMax, Inc. (NASDAQ:CMAX) Rises By 23.9%

CareMax, Inc. (NASDAQ:CMAX – Get Rating) was the target of a significant growth in short interest during the month of March. As of March 31st, there was short interest totalling 2,640,000 shares, a growth of 23.9% from the March 15th total of 2,130,000 shares. Currently, 3.8% of the shares of the stock are short sold. Based on an average daily trading volume, of 298,300 shares, the short-interest ratio is presently 8.9 days.

Shares of CMAX opened at $7.24 on Tuesday. The company has a quick ratio of 4.90, a current ratio of 4.92 and a debt-to-equity ratio of 0.22. CareMax has a 12-month low of $5.29 and a 12-month high of $16.00. The firm has a 50-day moving average price of $7.13.

CareMax (NASDAQ:CMAX – Get Rating) last announced its quarterly earnings data on Tuesday, March 8th. The company reported ($0.04) earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of ($0.09) by $0.05. The firm had revenue of $118.31 million during the quarter, compared to analysts’ expectations of $119.36 million. Equities research analysts anticipate that CareMax will post -0.1 EPS for the current year.

A number of hedge funds have recently made changes to their positions in CMAX. Maverick Capital Ltd. boosted its stake in CareMax by 40.2% during the third quarter. Maverick Capital Ltd. now owns 4,316,238 shares of the company’s stock worth $41,695,000 after buying an additional 1,236,702 shares during the period. BlackRock Inc. boosted its stake in CareMax by 64.4% during the third quarter. BlackRock Inc. now owns 2,048,223 shares of the company’s stock worth $19,786,000 after buying an additional 802,648 shares during the period. Geode Capital Management LLC boosted its stake in CareMax by 1,322.7% during the third quarter. Geode Capital Management LLC now owns 554,560 shares of the company’s stock worth $5,357,000 after buying an additional 515,581 shares during the period. JPMorgan Chase & Co. purchased a new position in CareMax during the fourth quarter worth about $3,018,000. Finally, Millennium Management LLC boosted its stake in CareMax by 19.6% during the third quarter. Millennium Management LLC now owns 1,515,737 shares of the company’s stock worth $14,642,000 after buying an additional 248,743 shares during the period. 78.23% of the stock is owned by institutional investors.

A number of equities research analysts have recently commented on CMAX shares. UBS Group started coverage on shares of CareMax in a research report on Friday, January 7th. They issued a “buy” rating and a $14.00 target price for the company. Zacks Investment Research lowered shares of CareMax from a “buy” rating to a “hold” rating in a report on Monday, January 17th. One equities research analyst has rated the stock with a hold rating and four have issued a buy rating to the stock. According to MarketBeat, CareMax currently has a consensus rating of “Buy” and a consensus target price of $13.05.

About CareMax (Get Rating)

CareMax, Inc provides medical services through physicians and health care professionals. It offers a suite of health care and social services to its patients, including primary care, specialty care, telemedicine, health and wellness, optometry, dental, pharmacy, and transportation. The company also provides CareOptimize, a proprietary software and services platform that provides data, analytics, and rules-based decision tools/workflows for physicians in the United States.

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