Short Interest in Babylon Holdings Limited (NYSE:BBLN) Drops By 56.6%

Babylon Holdings Limited (NYSE:BBLN – Get Rating) saw a large decline in short interest in April. As of April 30th, there was short interest totalling 263,100 shares, a decline of 56.6% from the April 15th total of 605,800 shares. Currently, 0.2% of the shares of the stock are sold short. Based on an average daily trading volume, of 574,500 shares, the short-interest ratio is currently 0.5 days.

BBLN traded down $0.05 during trading hours on Friday, reaching $1.16. The company’s stock had a trading volume of 1,572,005 shares, compared to its average volume of 1,743,530. Babylon has a fifty-two week low of $1.07 and a fifty-two week high of $16.00. The business has a 50-day moving average of $3.21. The company has a debt-to-equity ratio of 1.02, a quick ratio of 2.37 and a current ratio of 2.37.

BBLN has been the subject of several research reports. Canaccord Genuity Group cut their price objective on Babylon from $14.00 to $8.00 and set a “buy” rating for the company in a research note on Friday, March 11th. BTIG Research cut their price objective on Babylon from $15.00 to $10.00 in a research note on Monday, April 25th. Zacks Investment Research upgraded Babylon from a “sell” rating to a “hold” rating in a research note on Wednesday. Berenberg Bank started coverage on Babylon in a report on Thursday, April 28th. They set a “hold” rating and a $5.50 target price on the stock. Finally, Citigroup lowered their target price on Babylon from $5.00 to $1.50 in a report on Friday. Four equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Buy” and an average target price of $8.14.

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Kinnevik AB publ acquired a new position in Babylon in the 4th quarter valued at about $320,315,000. AMF Tjanstepension AB purchased a new position in shares of Babylon in the fourth quarter valued at approximately $34,980,000. Norges Bank purchased a new position in shares of Babylon in the fourth quarter valued at approximately $2,614,000. Qube Research & Technologies Ltd purchased a new position in shares of Babylon in the fourth quarter valued at approximately $1,533,000. Finally, D. E. Shaw & Co. Inc. purchased a new position in shares of Babylon in the fourth quarter valued at approximately $1,395,000.

About Babylon (Get Rating)

Babylon Holdings Limited operates as a digital healthcare company. It offers end-to-end care solution that facilities through its digital health suite, virtual care, in-person medical care, and post-care offerings. The company also provides Babylon Cloud services. It operates in the United Kingdom, the United States, the Asia Pacific, Canada, and internationally.

Further Reading