OptimizeRx Co. (NASDAQ:OPRX) Short Interest Up 22.0% in March

OptimizeRx Co. (NASDAQ:OPRX - Get Free Report) was the target of a significant growth in short interest during the month of March. As of March 15th, there was short interest totalling 1,720,000 shares, a growth of 22.0% from the February 28th total of 1,410,000 shares. Currently, 11.1% of the shares of the company are sold short. Based on an average daily trading volume, of 502,300 shares, the days-to-cover ratio is currently 3.4 days.

Insider Buying and Selling at OptimizeRx

In other news, Director James Paul Lang acquired 321,408 shares of the firm's stock in a transaction that occurred on Friday, March 14th. The stock was bought at an average price of $7.60 per share, with a total value of $2,442,700.80. Following the acquisition, the director now owns 389,452 shares in the company, valued at $2,959,835.20. The trade was a 472.35 % increase in their position. The acquisition was disclosed in a document filed with the SEC, which is accessible through the SEC website. Corporate insiders own 6.10% of the company's stock.

Institutional Investors Weigh In On OptimizeRx

Several hedge funds have recently bought and sold shares of OPRX. Whetstone Capital Advisors LLC bought a new stake in shares of OptimizeRx during the 4th quarter worth $6,563,000. Royce & Associates LP bought a new stake in OptimizeRx during the fourth quarter worth about $5,198,000. Kennedy Capital Management LLC lifted its stake in OptimizeRx by 57.8% during the fourth quarter. Kennedy Capital Management LLC now owns 594,000 shares of the company's stock worth $2,887,000 after purchasing an additional 217,676 shares during the last quarter. Dimensional Fund Advisors LP boosted its holdings in shares of OptimizeRx by 9.8% in the 4th quarter. Dimensional Fund Advisors LP now owns 444,167 shares of the company's stock worth $2,159,000 after purchasing an additional 39,740 shares in the last quarter. Finally, Geode Capital Management LLC raised its holdings in shares of OptimizeRx by 1.2% during the 4th quarter. Geode Capital Management LLC now owns 400,621 shares of the company's stock valued at $1,948,000 after buying an additional 4,821 shares in the last quarter. 76.47% of the stock is currently owned by institutional investors.

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OptimizeRx Price Performance

Shares of NASDAQ:OPRX traded down $0.13 on Friday, hitting $7.75. The company's stock had a trading volume of 311,919 shares, compared to its average volume of 264,167. OptimizeRx has a 1 year low of $3.78 and a 1 year high of $14.13. The company has a debt-to-equity ratio of 0.29, a current ratio of 3.23 and a quick ratio of 3.23. The company has a market capitalization of $143.30 million, a PE ratio of -5.83 and a beta of 1.18. The company has a 50-day simple moving average of $6.53 and a 200 day simple moving average of $6.01.

Wall Street Analysts Forecast Growth

OPRX has been the topic of several research reports. Royal Bank of Canada reissued a "sector perform" rating and issued a $6.00 price target (down previously from $7.00) on shares of OptimizeRx in a research report on Wednesday, January 8th. B. Riley raised shares of OptimizeRx to a "strong-buy" rating in a report on Wednesday, March 12th. JMP Securities restated a "market outperform" rating and set a $8.00 target price on shares of OptimizeRx in a research report on Thursday, February 6th. Lake Street Capital reiterated a "buy" rating and set a $11.00 price objective on shares of OptimizeRx in a research note on Tuesday, December 24th. Finally, Stephens initiated coverage on OptimizeRx in a report on Friday, December 20th. They set an "equal weight" rating and a $5.50 price objective on the stock. Three equities research analysts have rated the stock with a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $9.06.

OptimizeRx Company Profile

OptimizeRx Corporation, a digital health technology company, enables care-focused engagement between life sciences organizations, healthcare providers, and patients at critical junctures throughout the patient care journey. It offers various tech-enabled marketing solutions through its Artificial Intelligence-generated Dynamic Audience and Activation Platform, which enables customers to execute traditional marketing campaigns on its proprietary digital point-of-care network, as well as dynamic marketing campaigns that optimize audiences in real time to increase the value of treatment information for healthcare professionals and patients in response to clinical care events.