Short Interest in Community Health Systems, Inc. (NYSE:CYH) Grows By 11.4%

Community Health Systems, Inc. (NYSE:CYH) saw a significant growth in short interest during the month of June. As of June 30th, there was short interest totalling 7,620,000 shares, a growth of 11.4% from the June 15th total of 6,840,000 shares. Based on an average daily trading volume, of 1,580,000 shares, the short-interest ratio is presently 4.8 days. Approximately 6.1% of the shares of the company are sold short.

Institutional Investors Weigh In On Community Health Systems

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Red Door Wealth Management LLC bought a new position in shares of Community Health Systems in the fourth quarter worth about $36,000. Eagle Asset Management Inc. purchased a new stake in Community Health Systems during the 4th quarter valued at approximately $40,000. Regatta Capital Group LLC purchased a new position in shares of Community Health Systems in the fourth quarter worth $53,000. Bison Wealth LLC bought a new position in shares of Community Health Systems during the fourth quarter worth $63,000. Finally, BOS Asset Management LLC purchased a new position in Community Health Systems during the first quarter valued at $80,000. 84.99% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on CYH shares. Truist Financial boosted their target price on Community Health Systems from $3.75 to $4.25 and gave the stock a “hold” rating in a research report on Monday. Oppenheimer dropped their target price on shares of Community Health Systems from $5.50 to $4.50 and set an “outperform” rating on the stock in a report on Thursday, April 25th. Four investment analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Hold” and a consensus target price of $4.15.

Community Health Systems Trading Up 1.5 %

NYSE CYH traded up $0.06 during trading hours on Tuesday, hitting $3.96. 127,604 shares of the company’s stock traded hands, compared to its average volume of 1,839,660. Community Health Systems has a 52 week low of $2.01 and a 52 week high of $5.20. The firm has a market capitalization of $550.32 million, a P/E ratio of -4.11 and a beta of 1.52. The business’s fifty day moving average price is $3.52 and its two-hundred day moving average price is $3.39.

Community Health Systems (NYSE:CYH) last posted its quarterly earnings data on Wednesday, April 24th. The company reported ($0.14) EPS for the quarter, topping the consensus estimate of ($0.19) by $0.05. The company had revenue of $3.14 billion during the quarter, compared to analysts’ expectations of $3.09 billion. The company’s revenue for the quarter was up 1.0% on a year-over-year basis. During the same quarter last year, the company earned ($0.43) earnings per share. On average, sell-side analysts expect that Community Health Systems will post -0.32 EPS for the current fiscal year.

About Community Health Systems

Community Health Systems, Inc owns, leases, and operates general acute care hospitals in the United States. It offers general acute care, emergency room, general and specialty surgery, critical care, internal medicine, obstetrics, diagnostic, psychiatric, and rehabilitation services, as well as skilled nursing and home care services.