Streamline Health Solutions, Inc. (NASDAQ:STRM) Sees Significant Drop in Short Interest

Streamline Health Solutions, Inc. (NASDAQ:STRM) was the recipient of a significant decline in short interest during the month of April. As of April 15th, there was short interest totalling 39,700 shares, a decline of 31.8% from the March 31st total of 58,200 shares. Based on an average daily trading volume, of 89,200 shares, the days-to-cover ratio is currently 0.4 days.

Streamline Health Solutions Stock Performance

STRM stock traded down $0.02 during midday trading on Friday, reaching $0.32. The company had a trading volume of 47,994 shares, compared to its average volume of 49,328. The company has a quick ratio of 0.61, a current ratio of 0.61 and a debt-to-equity ratio of 0.43. The stock has a 50 day moving average price of $0.46 and a 200 day moving average price of $0.42. Streamline Health Solutions has a fifty-two week low of $0.21 and a fifty-two week high of $1.82. The firm has a market capitalization of $18.88 million, a PE ratio of -0.94 and a beta of 1.18.

Hedge Funds Weigh In On Streamline Health Solutions

A number of hedge funds and other institutional investors have recently bought and sold shares of STRM. Perkins Capital Management Inc. boosted its stake in Streamline Health Solutions by 33.7% in the fourth quarter. Perkins Capital Management Inc. now owns 1,999,405 shares of the company’s stock valued at $850,000 after acquiring an additional 504,000 shares during the period. Austin Wealth Management LLC boosted its position in shares of Streamline Health Solutions by 100.2% during the fourth quarter. Austin Wealth Management LLC now owns 935,519 shares of the company’s stock worth $402,000 after buying an additional 468,242 shares during the period. Cerity Partners LLC acquired a new position in shares of Streamline Health Solutions during the fourth quarter worth approximately $128,000. Mesirow Financial Investment Management Inc. acquired a new position in shares of Streamline Health Solutions during the first quarter worth approximately $59,000. Finally, Nicholas Hoffman & Company LLC. boosted its position in shares of Streamline Health Solutions by 10.9% during the fourth quarter. Nicholas Hoffman & Company LLC. now owns 740,983 shares of the company’s stock worth $315,000 after buying an additional 72,993 shares during the period. 31.74% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Separately, StockNews.com initiated coverage on Streamline Health Solutions in a research note on Wednesday. They issued a “sell” rating for the company.

About Streamline Health Solutions

Streamline Health Solutions, Inc offers health information technology solutions and associated services for hospitals and health systems in the United States and Canada. The company offers RevID, an automated revenue reconciliation software; eValuator, a coding analysis platform; data comparison engine; coding and clinical documentation improvement (CDI) solutions, including CDI, abstracting, and physician query; and financial management solutions, such as accounts receivable management, denials management, claims processing, spend management, and audit management.