Short Interest in eHealth, Inc. (NASDAQ:EHTH) Declines By 24.6%

Key Points

• eHealth, Inc. experienced a significant 24.6% decrease in short interest during August, totaling 814,400 shares as of August 15th, indicating a shift in market sentiment.
• The company's stock price opened at $4.09 with a market cap of $124.99 million and reported a P/E ratio of -6.49, reflecting its current financial struggles.
• Analysts have mixed opinions on eHealth, with targets ranging from a low of $5.00 to a high of $11.00, leading to a consensus rating of "Hold" on the stock.

eHealth, Inc. (NASDAQ:EHTH - Get Free Report) saw a large drop in short interest in the month of August. As of August 15th, there was short interest totaling 814,400 shares, a drop of 24.6% from the July 31st total of 1,080,000 shares. Based on an average trading volume of 472,300 shares, the short-interest ratio is presently 1.7 days. Based on an average trading volume of 472,300 shares, the short-interest ratio is presently 1.7 days.

Analyst Upgrades and Downgrades

A number of research firms have recently commented on EHTH. Royal Bank Of Canada reaffirmed a "sector perform" rating and set a $11.00 price objective on shares of eHealth in a report on Monday, May 19th. Wall Street Zen cut shares of eHealth from a "hold" rating to a "sell" rating in a research report on Saturday, August 9th. Finally, UBS Group dropped their target price on shares of eHealth from $7.00 to $5.00 and set a "neutral" rating for the company in a research report on Thursday, August 7th. One analyst has rated the stock with a Buy rating and two have assigned a Hold rating to the company. According to MarketBeat.com, the company presently has an average rating of "Hold" and an average target price of $7.67.

eHealth Trading Down 1.7%

Shares of eHealth stock traded down $0.07 during mid-day trading on Friday, reaching $3.99. 361,760 shares of the stock were exchanged, compared to its average volume of 252,772. The company has a market cap of $121.92 million, a price-to-earnings ratio of -6.33 and a beta of 1.13. eHealth has a fifty-two week low of $3.18 and a fifty-two week high of $11.36. The firm has a 50-day simple moving average of $3.78 and a 200 day simple moving average of $5.04.

Institutional Investors Weigh In On eHealth

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Police & Firemen s Retirement System of New Jersey acquired a new stake in eHealth in the 2nd quarter valued at about $29,000. R Squared Ltd acquired a new stake in eHealth in the 2nd quarter valued at about $47,000. The Manufacturers Life Insurance Company acquired a new stake in eHealth in the 2nd quarter valued at about $48,000. Bank of America Corp DE increased its position in eHealth by 1,265.8% in the 2nd quarter. Bank of America Corp DE now owns 11,186 shares of the financial services provider's stock valued at $49,000 after acquiring an additional 10,367 shares in the last quarter. Finally, Intech Investment Management LLC acquired a new stake in shares of eHealth during the 2nd quarter worth approximately $55,000. Institutional investors and hedge funds own 79.54% of the company's stock.

About eHealth

eHealth, Inc operates a health insurance marketplace that provides consumer engagement, education, and health insurance enrollment solutions in the United States. The company operates in two segments, Medicare; and Employer and Individual. The Medicare segment offers sale of Medicare-related health insurance plans, which includes Medicare advantage, Medicare Supplement, and Medicare Part D prescription drug plans to Medicare-eligible customers including but not limited to, dental, and vision insurance, as well as advertising program for marketing and other services.