Short Interest in CareMax, Inc. (NASDAQ:CMAX) Expands By 5.3%

CareMax, Inc. (NASDAQ:CMAX) was the target of a significant increase in short interest during the month of March. As of March 31st, there was short interest totalling 231,700 shares, an increase of 5.3% from the March 15th total of 220,100 shares. Approximately 9.9% of the shares of the company are short sold. Based on an average daily volume of 77,600 shares, the short-interest ratio is currently 3.0 days.

CareMax Price Performance

CareMax stock opened at $2.51 on Thursday. The company has a market cap of $9.54 million, a price-to-earnings ratio of -0.01 and a beta of 0.79. The business’s 50 day simple moving average is $5.79 and its 200 day simple moving average is $22.70. CareMax has a 12 month low of $2.48 and a 12 month high of $126.00. The company has a current ratio of 0.42, a quick ratio of 0.42 and a debt-to-equity ratio of 0.35.

CareMax (NASDAQ:CMAX) last posted its earnings results on Monday, March 18th. The company reported ($25.82) earnings per share (EPS) for the quarter. The company had revenue of $151.84 million for the quarter, compared to analysts’ expectations of $191.31 million. CareMax had a negative return on equity of 35.76% and a negative net margin of 90.98%. Sell-side analysts forecast that CareMax will post -22 EPS for the current year.

Analyst Upgrades and Downgrades

Separately, Jefferies Financial Group reiterated a “hold” rating on shares of CareMax in a research note on Monday, February 26th.

Institutional Investors Weigh In On CareMax

Several institutional investors have recently made changes to their positions in CMAX. Morgan Stanley raised its position in shares of CareMax by 404.7% in the fourth quarter. Morgan Stanley now owns 2,151,688 shares of the company’s stock worth $7,854,000 after buying an additional 1,725,331 shares in the last quarter. Vanguard Group Inc. raised its position in shares of CareMax by 95.4% in the first quarter. Vanguard Group Inc. now owns 2,915,066 shares of the company’s stock worth $21,775,000 after buying an additional 1,423,474 shares in the last quarter. Eminence Capital LP raised its position in shares of CareMax by 11.3% in the third quarter. Eminence Capital LP now owns 9,885,113 shares of the company’s stock worth $20,956,000 after buying an additional 1,005,027 shares in the last quarter. Healthcare of Ontario Pension Plan Trust Fund purchased a new stake in shares of CareMax in the first quarter worth $2,457,000. Finally, BlackRock Inc. raised its position in shares of CareMax by 22.6% in the second quarter. BlackRock Inc. now owns 4,863,695 shares of the company’s stock worth $15,126,000 after buying an additional 897,431 shares in the last quarter. Hedge funds and other institutional investors own 65.94% of the company’s stock.

CareMax Company Profile

CareMax, Inc provides care and chronic disease management 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; and services to children and adults through Medicaid programs, as well as through commercial insurance plans.