Health Catalyst, Inc. (NASDAQ:HCAT) Sees Large Decline in Short Interest

Health Catalyst, Inc. (NASDAQ:HCAT - Get Free Report) was the target of a large drop in short interest during the month of March. As of March 31st, there was short interest totalling 1,520,000 shares, a drop of 16.5% from the March 15th total of 1,820,000 shares. Based on an average daily trading volume, of 617,600 shares, the days-to-cover ratio is presently 2.5 days.

Health Catalyst Price Performance

HCAT stock traded down $0.14 during trading on Tuesday, hitting $5.53. 516,814 shares of the stock traded hands, compared to its average volume of 616,976. Health Catalyst has a one year low of $5.51 and a one year high of $14.37. The stock has a market cap of $323.84 million, a price-to-earnings ratio of -2.69 and a beta of 1.29. The company has a 50 day simple moving average of $8.13 and a 200 day simple moving average of $8.51. The company has a current ratio of 4.42, a quick ratio of 4.42 and a debt-to-equity ratio of 0.62.

Health Catalyst (NASDAQ:HCAT - Get Free Report) last announced its quarterly earnings results on Thursday, February 22nd. The company reported ($0.21) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.27) by $0.06. Health Catalyst had a negative net margin of 39.92% and a negative return on equity of 12.19%. The firm had revenue of $75.08 million during the quarter, compared to the consensus estimate of $73.67 million. Equities analysts expect that Health Catalyst will post -0.47 EPS for the current fiscal year.

Institutional Investors Weigh In On Health Catalyst

Several hedge funds and other institutional investors have recently added to or reduced their stakes in HCAT. Fairfield Bush & CO. acquired a new stake in Health Catalyst in the 1st quarter valued at about $25,000. Macquarie Group Ltd. acquired a new stake in Health Catalyst in the 2nd quarter valued at about $26,000. Tower Research Capital LLC TRC increased its position in Health Catalyst by 165.1% in the 3rd quarter. Tower Research Capital LLC TRC now owns 3,118 shares of the company's stock valued at $32,000 after acquiring an additional 1,942 shares in the last quarter. Point72 Hong Kong Ltd acquired a new stake in Health Catalyst in the 1st quarter valued at about $33,000. Finally, Osaic Holdings Inc. increased its position in Health Catalyst by 88.7% in the 2nd quarter. Osaic Holdings Inc. now owns 7,339 shares of the company's stock valued at $92,000 after acquiring an additional 3,449 shares in the last quarter. Institutional investors and hedge funds own 85.00% of the company's stock.

Analyst Upgrades and Downgrades

HCAT has been the topic of a number of research analyst reports. Cantor Fitzgerald reiterated an "overweight" rating and issued a $16.00 target price on shares of Health Catalyst in a research note on Wednesday, April 10th. Evercore ISI lowered their target price on shares of Health Catalyst from $11.00 to $10.00 and set an "outperform" rating on the stock in a research note on Friday, February 23rd. Piper Sandler reissued an "overweight" rating and issued a $15.00 price target (down from $17.00) on shares of Health Catalyst in a report on Friday, February 23rd. Canaccord Genuity Group reduced their price target on shares of Health Catalyst from $12.00 to $11.00 and set a "buy" rating for the company in a report on Friday, February 23rd. Finally, Barclays assumed coverage on shares of Health Catalyst in a report on Wednesday, January 3rd. They issued an "overweight" rating and a $14.00 price target for the company. Four research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company's stock. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus price target of $12.10.

About Health Catalyst

Health Catalyst, Inc provides data and analytics technology and services to healthcare organizations in the United States. It operates in two segments, Technology and Professional Services. The company provides data operating system data platform which provides clients single comprehensive environment to integrate and organize data from their disparate software systems; and analytics applications, a software analytics applications build for data platform to analyze clients face across clinical and quality, population health, and financial and operational use cases.

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