Connors Investor Services Inc. Has $287,000 Position in OptimizeRx Co. (NASDAQ:OPRX)

Connors Investor Services Inc. boosted its holdings in shares of OptimizeRx Co. (NASDAQ:OPRX - Free Report) by 170.6% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 59,000 shares of the company's stock after purchasing an additional 37,193 shares during the period. Connors Investor Services Inc. owned about 0.32% of OptimizeRx worth $287,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. SBI Securities Co. Ltd. acquired a new stake in shares of OptimizeRx during the 4th quarter worth about $25,000. SG Americas Securities LLC acquired a new stake in shares of OptimizeRx during the fourth quarter worth approximately $51,000. Wells Fargo & Company MN raised its stake in shares of OptimizeRx by 33.3% in the fourth quarter. Wells Fargo & Company MN now owns 11,208 shares of the company's stock valued at $54,000 after acquiring an additional 2,797 shares during the last quarter. Barclays PLC boosted its holdings in shares of OptimizeRx by 13.5% in the 4th quarter. Barclays PLC now owns 30,574 shares of the company's stock worth $148,000 after acquiring an additional 3,640 shares in the last quarter. Finally, XTX Topco Ltd bought a new stake in OptimizeRx during the 4th quarter worth approximately $178,000. Institutional investors own 76.47% of the company's stock.

OptimizeRx Trading Up 4.3 %

OPRX stock traded up $0.41 during midday trading on Friday, reaching $10.05. The stock had a trading volume of 223,791 shares, compared to its average volume of 267,596. The firm has a market cap of $185.82 million, a price-to-earnings ratio of -7.56 and a beta of 1.18. OptimizeRx Co. has a twelve month low of $3.78 and a twelve month high of $14.13. The company has a quick ratio of 3.23, a current ratio of 3.23 and a debt-to-equity ratio of 0.29. The business has a fifty day simple moving average of $7.69 and a two-hundred day simple moving average of $6.19.

Insider Transactions at OptimizeRx

In related news, Director James Paul Lang purchased 321,408 shares of OptimizeRx stock in a transaction dated Friday, March 14th. The shares were acquired at an average cost of $7.60 per share, for a total transaction of $2,442,700.80. Following the transaction, the director now directly owns 389,452 shares of the company's stock, valued at approximately $2,959,835.20. This trade represents a 472.35 % increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. 6.10% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

OPRX has been the subject of several research analyst reports. JMP Securities reiterated a "market outperform" rating and issued a $8.00 price objective on shares of OptimizeRx in a research report on Thursday, February 6th. B. Riley raised OptimizeRx to a "strong-buy" rating in a report on Wednesday, March 12th. Finally, Royal Bank of Canada reissued a "sector perform" rating and set a $6.00 price objective (down previously from $7.00) on shares of OptimizeRx in a report on Wednesday, January 8th. Three investment analysts have rated the stock with a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus price target 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.