Short Interest in Ontrak, Inc. (NASDAQ:OTRK) Decreases By 95.6%

Ontrak, Inc. (NASDAQ:OTRK) was the target of a significant decrease in short interest during the month of September. As of September 15th, there was short interest totalling 14,700 shares, a decrease of 95.6% from the August 31st total of 333,100 shares. Based on an average daily volume of 42,000 shares, the short-interest ratio is presently 0.4 days.

Hedge Funds Weigh In On Ontrak

A hedge fund recently bought a new position in Ontrak stock. Armistice Capital LLC purchased a new position in shares of Ontrak, Inc. (NASDAQ:OTRK) during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor purchased 2,886,000 shares of the company’s stock, valued at approximately $1,157,000. Armistice Capital LLC owned about 10.47% of Ontrak as of its most recent SEC filing. 12.95% of the stock is owned by institutional investors and hedge funds.

Ontrak Stock Performance

OTRK stock opened at $2.65 on Friday. The stock has a market cap of $8.48 million, a P/E ratio of -0.66 and a beta of 2.58. The company has a debt-to-equity ratio of 0.43, a quick ratio of 3.64 and a current ratio of 3.64. The firm has a 50 day simple moving average of $0.43 and a 200 day simple moving average of $0.33. Ontrak has a 52 week low of $2.03 and a 52 week high of $21.29.

Ontrak (NASDAQ:OTRK) last announced its quarterly earnings data on Thursday, August 8th. The company reported ($0.19) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.10) by ($0.09). Ontrak had a negative return on equity of 238.43% and a negative net margin of 222.54%. The firm had revenue of $2.45 million for the quarter, compared to analysts’ expectations of $2.60 million. During the same quarter in the prior year, the business posted ($1.84) earnings per share. Research analysts anticipate that Ontrak will post -7.35 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Separately, Roth Mkm cut their price target on shares of Ontrak from $4.00 to $3.00 and set a “buy” rating on the stock in a report on Friday, August 9th.

Ontrak Company Profile

Ontrak, Inc operates as an artificial intelligence powered, telehealth-enabled, and virtualized healthcare company that provides in-person services to third-party payors in the United States. Its technology-enabled platform predicts people whose chronic disease will improve with behavior change, recommends effective care pathways that people are willing to follow, and engages and guides them to and through the care they need.