Short Interest in ProPhase Labs, Inc. (NASDAQ:PRPH) Declines By 62.4%

ProPhase Labs, Inc. (NASDAQ:PRPH) was the recipient of a large decrease in short interest in the month of February. As of February 28th, there was short interest totalling 1,660,000 shares, a decrease of 62.4% from the February 13th total of 4,420,000 shares. Based on an average daily volume of 8,860,000 shares, the days-to-cover ratio is currently 0.2 days. Currently, 8.8% of the shares of the company are short sold.

Analyst Upgrades and Downgrades

Separately, StockNews.com started coverage on ProPhase Labs in a research note on Tuesday, February 25th. They issued a “sell” rating for the company.

ProPhase Labs Stock Performance

PRPH stock traded down $0.03 during trading on Friday, hitting $0.39. The company had a trading volume of 679,006 shares, compared to its average volume of 2,368,002. The firm has a 50-day moving average price of $0.46 and a 200-day moving average price of $1.26. The company has a quick ratio of 1.33, a current ratio of 1.47 and a debt-to-equity ratio of 0.48. The firm has a market cap of $9.37 million, a PE ratio of -0.31 and a beta of -0.53. ProPhase Labs has a 1-year low of $0.22 and a 1-year high of $7.48.

Hedge Funds Weigh In On ProPhase Labs

Hedge funds and other institutional investors have recently bought and sold shares of the company. HighTower Advisors LLC boosted its holdings in shares of ProPhase Labs by 18.3% in the third quarter. HighTower Advisors LLC now owns 179,045 shares of the company’s stock valued at $434,000 after acquiring an additional 27,673 shares in the last quarter. Geode Capital Management LLC grew its holdings in ProPhase Labs by 9.2% during the third quarter. Geode Capital Management LLC now owns 160,735 shares of the company’s stock worth $389,000 after acquiring an additional 13,590 shares during the period. Sheets Smith Wealth Management purchased a new position in shares of ProPhase Labs in the 4th quarter valued at about $158,000. SVB Wealth LLC purchased a new position in ProPhase Labs in the fourth quarter valued at about $36,000. Finally, Perritt Capital Management Inc raised its holdings in ProPhase Labs by 129.1% during the fourth quarter. Perritt Capital Management Inc now owns 190,000 shares of the company’s stock worth $144,000 after purchasing an additional 107,068 shares during the last quarter. 9.45% of the stock is currently owned by hedge funds and other institutional investors.

ProPhase Labs Company Profile

ProPhase Labs, Inc develops and commercializes novel drugs, dietary supplements, and compounds in the United States. It operates through two segments: Diagnostic Services and Consumer Products. The company provides a range of TK supplements, including Legendz XL for male sexual health; and Triple Edge XL, an energy and stamina booster.