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

Enhabit, Inc. (NYSE:EHAB) saw a significant growth in short interest in 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 sold short.

Insider Buying and Selling at Enhabit

In related news, Director Jeffrey Bolton purchased 10,000 shares of Enhabit stock in a transaction dated Friday, May 17th. The stock was acquired at an average cost of $8.33 per share, with a total value of $83,300.00. Following the completion of the transaction, the director now directly owns 52,299 shares of the company’s stock, valued at $435,650.67. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Over the last ninety days, insiders bought 22,000 shares of company stock valued at $183,700. 1.90% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Enhabit

Several hedge funds and other institutional investors have recently added to or reduced their stakes in EHAB. DekaBank Deutsche Girozentrale grew its stake in shares of Enhabit by 12,146.2% in the fourth quarter. DekaBank Deutsche Girozentrale now owns 244,924 shares of the company’s stock worth $2,543,000 after acquiring an additional 242,924 shares during the last quarter. JANA Partners Management LP acquired a new stake in shares of Enhabit in the third quarter worth $20,532,000. Orchard Capital Management LLC grew its stake in shares of Enhabit by 5.6% in the fourth quarter. Orchard Capital Management LLC now owns 600,350 shares of the company’s stock worth $6,214,000 after acquiring an additional 31,929 shares during the last quarter. 8 Knots Management LLC acquired a new stake in shares of Enhabit in the fourth quarter worth $1,968,000. Finally, UBS Group AG grew its stake in shares of Enhabit by 2.0% in the fourth quarter. UBS Group AG now owns 1,666,362 shares of the company’s stock worth $17,247,000 after acquiring an additional 32,611 shares during the last quarter.

Analyst Ratings Changes

A number of research firms have recently issued reports on EHAB. 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 report on Thursday, March 7th. Jefferies Financial Group lowered shares of Enhabit from a “buy” rating to a “hold” rating and cut their price objective for the company from $14.00 to $8.75 in a research report on Thursday, May 9th. SVB Leerink raised shares of 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. Leerink Partnrs raised shares of Enhabit from a “strong sell” rating to a “hold” rating in a research report on Tuesday, May 14th. Finally, Bank of America cut their price objective on shares of Enhabit from $9.00 to $8.00 and set an “underperform” rating on the stock in a research report on Thursday. One analyst has rated the stock with a sell rating and seven have given a hold rating to the company. According to MarketBeat.com, Enhabit currently has an average rating of “Hold” and a consensus target price of $9.79.

Enhabit Stock Performance

EHAB stock traded down $0.14 during midday trading on Monday, hitting $8.78. 609,735 shares of the company traded hands, compared to its average volume of 580,004. Enhabit has a twelve month low of $7.12 and a twelve month high of $14.59. 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 business has a 50 day simple moving average of $9.16 and a 200-day simple moving average of $9.85. The stock has a market capitalization of $440.40 million, a price-to-earnings ratio of -5.29, a price-to-earnings-growth ratio of 1.43 and a beta of 1.86.

Enhabit (NYSE:EHAB) last announced its quarterly earnings results on Wednesday, May 8th. The company reported $0.07 EPS for the quarter, beating the consensus estimate of $0.05 by $0.02. Enhabit had a positive return on equity of 1.43% and a negative net margin of 7.95%. The company had revenue of $262.40 million for the quarter, compared to the consensus estimate of $268.25 million. As a group, equities research analysts predict that Enhabit will post 0.24 earnings per share for the current year.

About Enhabit

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.