CareMax, Inc. (NASDAQ:CMAX) Short Interest Up 5.3% in March

CareMax, Inc. (NASDAQ:CMAX) was the target of a large increase in short interest in March. As of March 31st, there was short interest totalling 231,700 shares, an increase of 5.3% from the March 15th total of 220,100 shares. Currently, 9.9% of the shares of the stock are short sold. Based on an average daily volume of 77,600 shares, the short-interest ratio is presently 3.0 days.

Institutional Investors Weigh In On CareMax

Institutional investors and hedge funds have recently made changes to their positions in the stock. Ensign Peak Advisors Inc acquired a new stake in shares of CareMax in the third quarter valued at about $50,000. UBS Group AG acquired a new stake in shares of CareMax in the second quarter valued at about $32,000. Citigroup Inc. acquired a new stake in shares of CareMax in the first quarter valued at about $98,000. Cubist Systematic Strategies LLC acquired a new stake in shares of CareMax in the first quarter valued at about $39,000. Finally, Alliancebernstein L.P. acquired a new stake in shares of CareMax in the third quarter valued at about $104,000. Institutional investors and hedge funds own 65.94% of the company’s stock.

CareMax Price Performance

CMAX traded down $0.32 on Tuesday, reaching $2.93. The stock had a trading volume of 31,557 shares, compared to its average volume of 77,931. CareMax has a fifty-two week low of $2.75 and a fifty-two week high of $126.00. The firm has a 50-day moving average of $5.95 and a 200-day moving average of $23.27. The company has a current ratio of 0.42, a quick ratio of 0.42 and a debt-to-equity ratio of 0.35. The company has a market capitalization of $11.13 million, a price-to-earnings ratio of -0.02 and a beta of 0.79.

CareMax (NASDAQ:CMAX) last issued its quarterly earnings results on Monday, March 18th. The company reported ($25.82) earnings per share for the quarter. The company had revenue of $151.84 million during the quarter, compared to analyst estimates of $191.31 million. CareMax had a negative net margin of 90.98% and a negative return on equity of 35.76%. As a group, sell-side analysts anticipate that CareMax will post -21.42 EPS for the current year.

Wall Street Analysts Forecast Growth

Separately, Jefferies Financial Group reaffirmed a “hold” rating on shares of CareMax in a report on Monday, February 26th.

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.