Short Interest in CareMax, Inc. (NASDAQ:CMAX) Declines By 8.0%

CareMax, Inc. (NASDAQ:CMAX) was the recipient of a significant decrease in short interest in the month of August. As of August 31st, there was short interest totalling 178,200 shares, a decrease of 8.0% from the August 15th total of 193,700 shares. Approximately 7.6% of the company’s shares are sold short. Based on an average daily volume of 2,910,000 shares, the days-to-cover ratio is currently 0.1 days.

CareMax Trading Up 5.5 %

CareMax stock traded up $0.12 during midday trading on Thursday, hitting $2.30. 14,036 shares of the stock were exchanged, compared to its average volume of 1,085,563. The company has a current ratio of 0.23, a quick ratio of 0.23 and a debt-to-equity ratio of 0.09. The stock has a market capitalization of $8.75 million, a price-to-earnings ratio of -0.01 and a beta of 0.75. The stock’s 50-day simple moving average is $3.33 and its 200 day simple moving average is $3.69. CareMax has a fifty-two week low of $1.55 and a fifty-two week high of $85.20.

CareMax (NASDAQ:CMAX) last announced its quarterly earnings results on Friday, August 9th. The company reported ($10.48) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($7.51) by ($2.97). The firm had revenue of $198.63 million for the quarter, compared to analyst estimates of $233.53 million. CareMax had a negative return on equity of 175.40% and a negative net margin of 99.78%. On average, equities analysts anticipate that CareMax will post -23.93 EPS for the current year.

Hedge Funds Weigh In On CareMax

Several large investors have recently modified their holdings of CMAX. Mirae Asset Global Investments Co. Ltd. acquired a new stake in shares of CareMax during the 1st quarter worth about $130,000. CastleKnight Management LP increased its position in shares of CareMax by 193.0% during the fourth quarter. CastleKnight Management LP now owns 374,700 shares of the company’s stock valued at $187,000 after acquiring an additional 246,800 shares during the last quarter. Finally, Eminence Capital LP raised its stake in shares of CareMax by 5.5% in the 4th quarter. Eminence Capital LP now owns 10,424,657 shares of the company’s stock valued at $5,194,000 after acquiring an additional 539,544 shares during the period. Institutional investors and hedge funds own 65.94% of the company’s stock.

About CareMax

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.