Enhabit, Inc. (NYSE:EHAB) Short Interest Up 11.2% in June

Enhabit, Inc. (NYSE:EHAB) saw a significant growth in short interest in the month of June. As of June 15th, there was short interest totalling 3,380,000 shares, a growth of 11.2% from the May 31st total of 3,040,000 shares. Based on an average daily trading volume, of 502,700 shares, the days-to-cover ratio is currently 6.7 days. Currently, 6.9% of the company’s shares are short sold.

Insider Activity at Enhabit

In other news, Director Jeffrey Bolton bought 10,000 shares of the firm’s stock in a transaction dated Friday, May 10th. The stock was purchased at an average price of $8.24 per share, with a total value of $82,400.00. Following the transaction, the director now owns 42,299 shares of the company’s stock, valued at $348,543.76. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Insiders have purchased 22,000 shares of company stock worth $183,700 over the last 90 days. 1.90% of the stock is owned by company insiders.

Institutional Investors Weigh In On Enhabit

Institutional investors and hedge funds have recently made changes to their positions in the stock. JANA Partners Management LP purchased a new stake in shares of Enhabit in the third quarter worth about $20,532,000. Kent Lake Capital LLC acquired a new stake in Enhabit during the first quarter worth about $5,183,000. DekaBank Deutsche Girozentrale raised its stake in Enhabit by 12,146.2% during the fourth quarter. DekaBank Deutsche Girozentrale now owns 244,924 shares of the company’s stock worth $2,543,000 after purchasing an additional 242,924 shares during the period. Charles Schwab Investment Management Inc. boosted its holdings in Enhabit by 25.1% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 966,515 shares of the company’s stock valued at $10,003,000 after purchasing an additional 193,675 shares during the last quarter. Finally, 8 Knots Management LLC purchased a new stake in shares of Enhabit in the 4th quarter valued at approximately $1,968,000.

Enhabit Price Performance

Shares of Enhabit stock remained flat at $8.76 on Wednesday. 120,995 shares of the stock were exchanged, compared to its average volume of 575,846. Enhabit has a 52-week low of $7.12 and a 52-week high of $14.59. The firm’s 50-day moving average price is $9.11 and its 200 day moving average price is $9.83. The company has a quick ratio of 1.50, a current ratio of 1.50 and a debt-to-equity ratio of 0.75. The stock has a market cap of $439.40 million, a PE ratio of -5.28, a P/E/G ratio of 1.43 and a beta of 1.86.

Enhabit (NYSE:EHAB) last released its quarterly earnings results on Wednesday, May 8th. The company reported $0.07 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.05 by $0.02. Enhabit had a negative net margin of 7.95% and a positive return on equity of 1.43%. The business had revenue of $262.40 million for the quarter, compared to analyst estimates of $268.25 million. On average, analysts forecast that Enhabit will post 0.24 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several research firms have issued reports on EHAB. Jefferies Financial Group cut shares of Enhabit from a “buy” rating to a “hold” rating and lowered their target price for the company from $14.00 to $8.75 in a research note on Thursday, May 9th. Oppenheimer restated a “market perform” rating on shares of Enhabit in a report on Thursday, March 7th. SVB Leerink upgraded Enhabit from an “underperform” rating to a “market perform” rating and set a $8.50 price objective on the stock in a research report on Tuesday, May 14th. UBS Group raised shares of Enhabit from a “sell” rating to a “neutral” rating and set a $9.50 price target for the company in a research note on Thursday, March 7th. Finally, Bank of America decreased their target price on Enhabit from $9.00 to $8.00 and set an “underperform” rating for the company in a research report on Thursday, June 27th. One research analyst has rated the stock with a sell rating and seven have assigned a hold rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $9.79.

Enhabit Company Profile

Enhabit, Inc provides home health and hospice services in the United States. Its home health services include patient education, pain management, wound care and dressing changes, cardiac rehabilitation, infusion therapy, pharmaceutical administration, and skilled observation and assessment services; practices to treat chronic diseases and conditions, including diabetes, hypertension, arthritis, Alzheimer's disease, low vision, spinal stenosis, Parkinson's disease, osteoporosis, complex wound care and chronic pain, along with disease-specific plans for patients with diabetes, congestive heart failure, post-orthopedic surgery, or injury and respiratory diseases; and physical, occupational and speech therapists provide therapy services.