NantHealth, Inc. (NASDAQ:NH) Sees Significant Drop in Short Interest

NantHealth, Inc. (NASDAQ:NHGet Rating) was the recipient of a large decrease in short interest in August. As of August 31st, there was short interest totalling 324,100 shares, a decrease of 12.7% from the August 15th total of 371,200 shares. Based on an average trading volume of 98,300 shares, the short-interest ratio is currently 3.3 days. Approximately 0.8% of the shares of the company are short sold.

Wall Street Analyst Weigh In

Separately, initiated coverage on NantHealth in a research note on Sunday. They issued a “hold” rating for the company.

NantHealth Stock Performance

NASDAQ:NH opened at $0.49 on Friday. The company has a 50-day moving average of $0.50 and a 200-day moving average of $0.60. NantHealth has a 52 week low of $0.40 and a 52 week high of $1.91. The company has a market capitalization of $56.06 million, a price-to-earnings ratio of -1.01 and a beta of 1.81.

NantHealth (NASDAQ:NHGet Rating) last posted its quarterly earnings results on Thursday, August 4th. The company reported ($0.11) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.09) by ($0.02). The company had revenue of $16.50 million for the quarter.

Hedge Funds Weigh In On NantHealth

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Goldman Sachs Group Inc. acquired a new stake in shares of NantHealth during the 2nd quarter worth about $36,000. Millennium Management LLC bought a new stake in shares of NantHealth during the second quarter worth $110,000. Atria Wealth Solutions Inc. raised its holdings in shares of NantHealth by 117.7% in the second quarter. Atria Wealth Solutions Inc. now owns 491,942 shares of the company’s stock valued at $205,000 after buying an additional 265,949 shares during the last quarter. Hartline Investment Corp acquired a new position in NantHealth during the 2nd quarter worth about $65,000. Finally, Highbridge Capital Management LLC acquired a new position in NantHealth during the 1st quarter worth about $665,000. Institutional investors own 4.67% of the company’s stock.

NantHealth Company Profile

(Get Rating)

NantHealth, Inc, together with its subsidiaries, operates as a healthcare IT company in the United States, Canada, and the United Kingdom. It offers Eviti, a software-as-a-service (SaaS) based clinical decision support solution that centralizes clinical content and treatment cost data from Medicare reimbursements and treatment toxicity data; Eviti Connect, which utilizes the platform to offer pre-authorization automation that helps payers and providers navigate the complexities of cancer care; and Eviti Advisor product that allows physicians to access the Eviti platform's comprehensive library of evidence-based treatment standards and protocols to inform treatment decisions.

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