MedAvail Holdings, Inc. (NASDAQ:MDVL) Sees Large Growth in Short Interest

MedAvail Holdings, Inc. (NASDAQ:MDVLGet Rating) was the target of a significant increase in short interest in April. As of April 15th, there was short interest totalling 3,420,000 shares, an increase of 568.5% from the March 31st total of 511,600 shares. Based on an average daily volume of 8,700,000 shares, the short-interest ratio is presently 0.4 days. Approximately 13.6% of the company’s stock are short sold.

In other news, major shareholder Wtt-Medavail Ltd Abg bought 14,117,646 shares of MedAvail stock in a transaction dated Monday, April 4th. The shares were acquired at an average cost of $1.06 per share, with a total value of $14,964,704.76. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Insiders own 3.70% of the company’s stock.

Hedge funds and other institutional investors have recently modified their holdings of the business. Morgan Stanley acquired a new stake in MedAvail in the 1st quarter valued at about $63,000. Jane Street Group LLC acquired a new position in shares of MedAvail in the 3rd quarter valued at about $69,000. State Board of Administration of Florida Retirement System acquired a new position in shares of MedAvail in the 3rd quarter valued at about $74,000. Citadel Advisors LLC acquired a new position in shares of MedAvail in the 4th quarter valued at about $42,000. Finally, Renaissance Technologies LLC acquired a new position in shares of MedAvail in the 4th quarter valued at about $76,000. 80.86% of the stock is owned by institutional investors.

Separately, Zacks Investment Research raised shares of MedAvail from a “hold” rating to a “buy” rating and set a $1.50 target price on the stock in a research report on Saturday, April 9th.

MDVL stock traded up $0.11 during trading on Wednesday, hitting $2.27. 86,088 shares of the company’s stock traded hands, compared to its average volume of 7,216,818. The company has a quick ratio of 3.13, a current ratio of 3.65 and a debt-to-equity ratio of 0.50. MedAvail has a 52 week low of $0.79 and a 52 week high of $14.59. The stock has a fifty day moving average price of $1.36 and a two-hundred day moving average price of $1.66. The stock has a market capitalization of $74.70 million, a price-to-earnings ratio of -1.80 and a beta of 0.96.

MedAvail (NASDAQ:MDVLGet Rating) last released its quarterly earnings results on Thursday, March 24th. The company reported ($0.38) EPS for the quarter, missing the consensus estimate of ($0.34) by ($0.04). MedAvail had a negative return on equity of 121.31% and a negative net margin of 198.00%. During the same quarter in the prior year, the business posted ($0.57) EPS. As a group, equities research analysts expect that MedAvail will post -0.8 EPS for the current fiscal year.

MedAvail Company Profile (Get Rating)

MedAvail Holdings, Inc, a technology-enabled retail pharmacy technology and services company, develops and commercializes self-service pharmacy, mobile application, kiosk, and drive-thru solutions in the United States and Canada. It operates in two segments, Retail Pharmacy Services and Pharmacy Technology.

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