Enhabit, Inc. (NYSE:EHAB) Sees Large Increase in Short Interest

Enhabit, Inc. (NYSE:EHAB) was the target of a significant growth in short interest during the month of July. As of July 15th, there was short interest totalling 3,230,000 shares, a growth of 11.8% from the June 30th total of 2,890,000 shares. Based on an average daily volume of 537,600 shares, the days-to-cover ratio is currently 6.0 days. Approximately 6.6% of the company’s shares are short sold.

Analyst Upgrades and Downgrades

EHAB has been the subject of several research analyst reports. Jefferies Financial Group lowered Enhabit from a “buy” rating to a “hold” rating and dropped their price target for the stock from $14.00 to $8.75 in a research note on Thursday, May 9th. Bank of America reduced their price target on shares of Enhabit from $9.00 to $8.00 and set an “underperform” rating on the stock in a research report on Thursday, June 27th. SVB Leerink raised shares of Enhabit from an “underperform” rating to a “market perform” rating and set a $8.50 price objective for the company in a research report on Tuesday, May 14th. Finally, Leerink Partnrs upgraded shares of Enhabit from a “strong sell” rating to a “hold” rating in a report on Tuesday, May 14th. One equities research analyst has rated the stock with a sell rating and seven have given a hold rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $9.79.

Enhabit Stock Performance

Shares of EHAB stock traded down $0.11 on Monday, hitting $10.25. 644,573 shares of the stock traded hands, compared to its average volume of 562,685. The company’s fifty day moving average is $9.11 and its 200 day moving average is $9.71. Enhabit has a 1-year low of $7.12 and a 1-year high of $14.22. The company has a market capitalization of $514.14 million, a PE ratio of -6.17, a PEG ratio of 1.63 and a beta of 1.86. The company has a debt-to-equity ratio of 0.75, a current ratio of 1.50 and a quick ratio of 1.50.

Enhabit (NYSE:EHAB) last issued its earnings results on Wednesday, May 8th. The company reported $0.07 earnings per share for the quarter, topping analysts’ consensus estimates 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 company had revenue of $262.40 million for the quarter, compared to analysts’ expectations of $268.25 million. On average, equities research analysts predict that Enhabit will post 0.24 earnings per share for the current fiscal year.

Insider Transactions at Enhabit

In other Enhabit news, Director Jeffrey Bolton purchased 10,000 shares of the stock in a transaction on Friday, May 17th. The stock was bought at an average price of $8.33 per share, for a total transaction of $83,300.00. Following the acquisition, the director now directly owns 52,299 shares of the company’s stock, valued at $435,650.67. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Insiders have acquired 22,000 shares of company stock worth $183,700 over the last quarter. 1.90% of the stock is currently owned by insiders.

Institutional Trading of Enhabit

Institutional investors and hedge funds have recently made changes to their positions in the stock. Allspring Global Investments Holdings LLC increased its position in Enhabit by 1,119.6% in the second quarter. Allspring Global Investments Holdings LLC now owns 45,832 shares of the company’s stock worth $409,000 after buying an additional 42,074 shares during the period. Bank of New York Mellon Corp increased its position in shares of Enhabit by 1.5% during the 2nd quarter. Bank of New York Mellon Corp now owns 400,575 shares of the company’s stock valued at $3,573,000 after purchasing an additional 5,936 shares during the period. SummerHaven Investment Management LLC raised its stake in shares of Enhabit by 2.8% in the 2nd quarter. SummerHaven Investment Management LLC now owns 61,508 shares of the company’s stock worth $549,000 after buying an additional 1,660 shares in the last quarter. Gladius Capital Management LP bought a new stake in Enhabit in the second quarter worth about $31,000. Finally, DekaBank Deutsche Girozentrale lifted its holdings in Enhabit by 39.0% in the 1st quarter. DekaBank Deutsche Girozentrale now owns 340,412 shares of the company’s stock valued at $3,861,000 after acquiring an additional 95,488 shares during the last quarter.

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.