Omada Health, Inc. (NASDAQ:OMDA) Sees Large Growth in Short Interest

Key Points

• Short interest surged 24.5% in March to 3,541,079 shares (about 6.0% of shares outstanding) with a days‑to‑cover of 2.5, signaling increased bearish positioning.
• Omada beat the quarter with $0.08 EPS vs. a $‑0.04 estimate and revenue of $75.85M; the stock trades at $13.38 (market cap ≈ $788M) and remains below its 200‑day moving average.
• Analysts keep a consensus of "Moderate Buy" (10 Buys, 2 Holds, 1 Sell) with an average price target of $21.64 despite several cuts, while insiders have trimmed holdings (8,776 shares sold over 90 days).

Omada Health, Inc. (NASDAQ:OMDA - Get Free Report) saw a significant growth in short interest during the month of March. As of March 31st, there was short interest totaling 3,541,079 shares, a growth of 24.5% from the March 15th total of 2,843,612 shares. Approximately 6.0% of the shares of the company are short sold. Based on an average daily volume of 1,411,464 shares, the days-to-cover ratio is presently 2.5 days.

Omada Health Stock Up 1.9%

OMDA traded up $0.26 during trading on Thursday, reaching $13.38. The stock had a trading volume of 754,098 shares, compared to its average volume of 1,280,069. The firm has a market capitalization of $788.12 million and a price-to-earnings ratio of -78.68. Omada Health has a 1-year low of $10.28 and a 1-year high of $28.40. The stock has a 50 day moving average of $12.66 and a two-hundred day moving average of $16.78.

Omada Health (NASDAQ:OMDA - Get Free Report) last released its earnings results on Thursday, March 5th. The company reported $0.08 earnings per share for the quarter, topping analysts' consensus estimates of ($0.04) by $0.12. The firm had revenue of $75.85 million during the quarter.

Wall Street Analysts Forecast Growth

OMDA has been the subject of several analyst reports. BMO Capital Markets reduced their price objective on Omada Health from $27.00 to $18.00 and set an "outperform" rating for the company in a research report on Friday, March 6th. Barclays reduced their price objective on Omada Health from $22.00 to $17.00 and set an "overweight" rating for the company in a research report on Tuesday, March 3rd. Needham & Company LLC reiterated a "buy" rating and set a $28.00 price objective on shares of Omada Health in a research report on Thursday, January 22nd. Evercore reiterated an "outperform" rating and set a $15.00 price objective on shares of Omada Health in a research report on Wednesday, April 8th. Finally, Morgan Stanley reduced their price objective on Omada Health from $32.00 to $30.00 and set an "overweight" rating for the company in a research report on Friday, March 6th. Ten analysts have rated the stock with a Buy rating, two have given a Hold rating and one has given a Sell rating to the company. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average price target of $21.64.

Insider Activity

In other news, CFO Steven L. Cook sold 1,884 shares of the business's stock in a transaction that occurred on Friday, March 13th. The stock was sold at an average price of $13.94, for a total transaction of $26,262.96. Following the completion of the transaction, the chief financial officer directly owned 200,512 shares in the company, valued at approximately $2,795,137.28. The trade was a 0.93% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CEO Sean P. Duffy sold 4,063 shares of the business's stock in a transaction that occurred on Monday, March 9th. The stock was sold at an average price of $14.34, for a total value of $58,263.42. Following the transaction, the chief executive officer owned 117,598 shares of the company's stock, valued at approximately $1,686,355.32. This represents a 3.34% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last ninety days, insiders sold 8,776 shares of company stock valued at $120,483.

Institutional Investors Weigh In On Omada Health

A number of institutional investors and hedge funds have recently modified their holdings of OMDA. Strs Ohio acquired a new stake in Omada Health during the 3rd quarter valued at $38,000. Raymond James Financial Inc. acquired a new stake in Omada Health during the 2nd quarter valued at $32,000. Bellevue Group AG raised its stake in Omada Health by 0.7% during the 3rd quarter. Bellevue Group AG now owns 251,791 shares of the company's stock valued at $5,567,000 after purchasing an additional 1,791 shares during the period. Quarry LP acquired a new stake in Omada Health during the 4th quarter valued at $29,000. Finally, Barclays PLC raised its stake in Omada Health by 14.6% during the 4th quarter. Barclays PLC now owns 14,850 shares of the company's stock valued at $234,000 after purchasing an additional 1,888 shares during the period.

Omada Health Company Profile

Omada Health is a digital health company that specializes in the prevention and management of chronic conditions through personalized, technology-driven programs. The company's platform combines data analytics, behavioral science and human coaching to support individuals at risk for or living with conditions such as prediabetes, type 2 diabetes, hypertension and musculoskeletal disorders. Participants access the program via a mobile app or web portal, where they receive tailored curriculum, feedback on health metrics and ongoing virtual coaching.

In addition to its core disease-management offerings, Omada Health has expanded its services to include mental health support and digital therapeutics for weight management.

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