CareMax, Inc. (NASDAQ:CMAX) Short Interest Down 15.4% in June

CareMax, Inc. (NASDAQ:CMAX) was the recipient of a large drop in short interest during the month of June. As of June 15th, there was short interest totalling 186,900 shares, a drop of 15.4% from the May 31st total of 220,900 shares. Based on an average trading volume of 257,600 shares, the days-to-cover ratio is currently 0.7 days. Approximately 8.0% of the company’s shares are sold short.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the stock. Mirae Asset Global Investments Co. Ltd. purchased a new position in CareMax in the 1st quarter worth about $130,000. CastleKnight Management LP increased its stake in CareMax by 193.0% in the 4th quarter. CastleKnight Management LP now owns 374,700 shares of the company’s stock worth $187,000 after buying an additional 246,800 shares during the period. Finally, Eminence Capital LP increased its stake in CareMax by 5.5% in the 4th quarter. Eminence Capital LP now owns 10,424,657 shares of the company’s stock worth $5,194,000 after buying an additional 539,544 shares during the period. Hedge funds and other institutional investors own 65.94% of the company’s stock.

CareMax Trading Down 15.8 %

Shares of CareMax stock traded down $0.44 during trading on Monday, hitting $2.35. The stock had a trading volume of 304,850 shares, compared to its average volume of 202,742. The firm’s fifty day simple moving average is $2.96 and its 200-day simple moving average is $6.37. The stock has a market cap of $8.93 million, a PE ratio of -0.01 and a beta of 0.82. The company has a debt-to-equity ratio of 0.09, a current ratio of 0.31 and a quick ratio of 0.31. CareMax has a 12 month low of $1.88 and a 12 month high of $99.90.

CareMax (NASDAQ:CMAX) last released its earnings results on Thursday, May 9th. The company reported ($10.99) earnings per share (EPS) for the quarter, missing the consensus estimate of ($8.73) by ($2.26). The firm had revenue of $232.25 million during the quarter, compared to the consensus estimate of $215.56 million. CareMax had a negative return on equity of 57.78% and a negative net margin of 79.55%. As a group, sell-side analysts expect that CareMax will post -23.93 EPS for the current fiscal year.

CareMax Company Profile

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.