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Healthequity Inc (NASDAQ:HQY) Short Interest Up 22.3% in August

Last updated on Wednesday, September 16, 2020 | 2020 MarketBeat

Healthequity Inc (NASDAQ:HQY) was the recipient of a significant growth in short interest in the month of August. As of August 31st, there was short interest totalling 4,560,000 shares, a growth of 22.3% from the August 15th total of 3,730,000 shares. Based on an average daily volume of 861,200 shares, the days-to-cover ratio is currently 5.3 days.

Shares of Healthequity stock traded up $0.04 during trading hours on Wednesday, reaching $51.06. 1,088,883 shares of the company were exchanged, compared to its average volume of 949,061. Healthequity has a 1 year low of $34.40 and a 1 year high of $88.78. The stock's fifty day moving average is $55.29 and its 200 day moving average is $55.62. The company has a debt-to-equity ratio of 0.71, a quick ratio of 2.49 and a current ratio of 2.49. The firm has a market cap of $3.92 billion, a PE ratio of -189.10, a PEG ratio of 3.40 and a beta of 1.40.

Healthequity (NASDAQ:HQY) last posted its quarterly earnings data on Tuesday, September 8th. The company reported $0.42 earnings per share for the quarter, topping analysts' consensus estimates of $0.15 by $0.27. The business had revenue of $176.00 million for the quarter, compared to analyst estimates of $171.11 million. Healthequity had a positive return on equity of 8.53% and a negative net margin of 2.74%. The company's revenue was up 102.3% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.45 earnings per share. Research analysts expect that Healthequity will post 1.15 earnings per share for the current year.

HQY has been the subject of a number of analyst reports. Cantor Fitzgerald dropped their price objective on shares of Healthequity from $80.00 to $70.00 and set an "overweight" rating for the company in a report on Wednesday, June 3rd. BidaskClub upgraded shares of Healthequity from a "sell" rating to a "hold" rating in a research report on Wednesday, September 9th. Wells Fargo & Company upped their price objective on shares of Healthequity from $63.00 to $70.00 and gave the stock an "overweight" rating in a report on Wednesday, September 9th. Deutsche Bank increased their price objective on shares of Healthequity from $57.00 to $60.00 and gave the stock a "buy" rating in a research report on Thursday, September 10th. Finally, Zacks Investment Research lowered Healthequity from a "strong-buy" rating to a "sell" rating and set a $64.00 target price on the stock. in a research report on Tuesday, June 16th. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and eight have assigned a buy rating to the company. The company has a consensus rating of "Buy" and a consensus price target of $63.75.

In related news, VP Ashley Dreier sold 16,250 shares of the company's stock in a transaction dated Wednesday, September 2nd. The shares were sold at an average price of $60.00, for a total value of $975,000.00. Following the completion of the sale, the vice president now owns 58,694 shares of the company's stock, valued at $3,521,640. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 3.70% of the company's stock.

Several hedge funds have recently modified their holdings of the stock. Banque Cantonale Vaudoise acquired a new stake in shares of Healthequity during the first quarter worth about $25,000. Weaver Consulting Group acquired a new stake in shares of Healthequity during the second quarter worth about $29,000. Assetmark Inc. increased its position in shares of Healthequity by 79.7% during the second quarter. Assetmark Inc. now owns 530 shares of the company's stock worth $31,000 after purchasing an additional 235 shares in the last quarter. Canada Pension Plan Investment Board acquired a new stake in shares of Healthequity during the second quarter worth about $35,000. Finally, Mitsubishi UFJ Kokusai Asset Management Co. Ltd. increased its position in shares of Healthequity by 27.8% during the first quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 887 shares of the company's stock worth $45,000 after purchasing an additional 193 shares in the last quarter. Hedge funds and other institutional investors own 98.01% of the company's stock.

Healthequity Company Profile

HealthEquity, Inc provides various solutions for managing health care accounts, health reimbursement arrangements, and flexible spending accounts for health plans, insurance companies, and third-party administrators in the United States. The company offers healthcare saving and spending platform, a cloud-based platform for individuals to make health saving and spending decisions, pay healthcare bills, compare treatment options and prices, receive personalized benefit and clinical information, earn wellness incentives, grow their savings, and make investment choices; and health savings accounts.

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