Short Interest in Enhabit, Inc. (NYSE:EHAB) Declines By 66.9%

Enhabit, Inc. (NYSE:EHAB - Get Free Report) saw a large decline in short interest during the month of September. As of September 30th, there was short interest totalling 1,130,000 shares, a decline of 66.9% from the September 15th total of 3,410,000 shares. Based on an average daily trading volume, of 695,500 shares, the days-to-cover ratio is presently 1.6 days. Currently, 2.6% of the shares of the stock are short sold.

Enhabit Stock Down 0.4 %

Enhabit stock traded down $0.03 during trading hours on Thursday, hitting $7.10. The stock had a trading volume of 455,824 shares, compared to its average volume of 610,978. The stock's 50-day moving average price is $8.12 and its 200-day moving average price is $9.10. The stock has a market capitalization of $355.86 million, a P/E ratio of -4.27 and a beta of 1.81. Enhabit has a 12-month low of $6.94 and a 12-month high of $11.74. The company has a quick ratio of 1.48, a current ratio of 1.48 and a debt-to-equity ratio of 0.73.

Enhabit (NYSE:EHAB - Get Free Report) last issued its earnings results on Tuesday, August 6th. The company reported $0.07 EPS for the quarter, beating the consensus estimate of $0.05 by $0.02. The business had revenue of $260.60 million for the quarter, compared to the consensus estimate of $265.99 million. Enhabit had a positive return on equity of 1.61% and a negative net margin of 0.84%. During the same period last year, the business posted $0.04 EPS. Equities research analysts anticipate that Enhabit will post 0.26 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Separately, Bank of America reduced their price target on Enhabit from $9.00 to $8.00 and set an "underperform" rating on the stock in a report on Thursday, June 27th. One investment analyst has rated the stock with a sell rating and six have given a hold rating to the company's stock. Based on data from MarketBeat, the company currently has an average rating of "Hold" and an average price target of $9.35.

Insider Buying and Selling

In other Enhabit news, Director Jeffrey Bolton bought 5,000 shares of Enhabit stock in a transaction that occurred on Thursday, August 22nd. The shares were bought at an average price of $8.01 per share, with a total value of $40,050.00. Following the acquisition, the director now owns 78,877 shares in the company, valued at approximately $631,804.77. This trade represents a 0.00 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 1.90% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Enhabit

Hedge funds have recently added to or reduced their stakes in the stock. SummerHaven Investment Management LLC grew its position in Enhabit by 2.8% during the second quarter. SummerHaven Investment Management LLC now owns 61,508 shares of the company's stock valued at $549,000 after buying an additional 1,660 shares during the period. Oppenheimer & Co. Inc. raised its position in Enhabit by 7.2% in the first quarter. Oppenheimer & Co. Inc. now owns 26,224 shares of the company's stock worth $306,000 after acquiring an additional 1,768 shares during the period. PNC Financial Services Group Inc. raised its position in Enhabit by 13.2% in the fourth quarter. PNC Financial Services Group Inc. now owns 16,058 shares of the company's stock worth $166,000 after acquiring an additional 1,875 shares during the period. Price T Rowe Associates Inc. MD raised its position in Enhabit by 5.8% in the first quarter. Price T Rowe Associates Inc. MD now owns 37,950 shares of the company's stock worth $443,000 after acquiring an additional 2,078 shares during the period. Finally, Quarry LP raised its position in Enhabit by 242.2% in the second quarter. Quarry LP now owns 3,703 shares of the company's stock worth $33,000 after acquiring an additional 2,621 shares during the period.

Enhabit Company Profile

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.

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