Short Interest in eHealth, Inc. (NASDAQ:EHTH) Rises By 24.7%

eHealth, Inc. (NASDAQ:EHTH) was the recipient of a large growth in short interest in the month of January. As of January 30th, there was short interest totaling 1,058,252 shares, a growth of 24.7% from the January 15th total of 848,347 shares. Based on an average daily trading volume, of 421,274 shares, the days-to-cover ratio is presently 2.5 days. Approximately 3.6% of the company’s shares are short sold. Approximately 3.6% of the company’s shares are short sold. Based on an average daily trading volume, of 421,274 shares, the days-to-cover ratio is presently 2.5 days.

Analysts Set New Price Targets

A number of research analysts have recently weighed in on EHTH shares. Royal Bank Of Canada lowered their target price on shares of eHealth from $10.00 to $9.00 and set a “sector perform” rating for the company in a report on Tuesday, November 25th. Weiss Ratings restated a “sell (d+)” rating on shares of eHealth in a research note on Monday, December 29th. Two research analysts have rated the stock with a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the company presently has an average rating of “Reduce” and a consensus price target of $7.00.

eHealth Price Performance

Shares of EHTH traded down $0.12 during trading hours on Tuesday, reaching $1.58. 714,212 shares of the company’s stock traded hands, compared to its average volume of 527,645. The firm’s 50 day simple moving average is $3.52 and its 200-day simple moving average is $3.93. The stock has a market cap of $48.60 million, a PE ratio of -6.08 and a beta of 1.21. The company has a current ratio of 2.23, a quick ratio of 2.23 and a debt-to-equity ratio of 0.14. eHealth has a 12 month low of $1.53 and a 12 month high of $11.36.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the company. J. Goldman & Co LP bought a new position in eHealth in the fourth quarter worth $3,134,000. Nantahala Capital Management LLC grew its position in shares of eHealth by 34.3% in the 3rd quarter. Nantahala Capital Management LLC now owns 1,761,441 shares of the financial services provider’s stock worth $7,592,000 after buying an additional 450,000 shares during the period. Mackenzie Financial Corp bought a new position in shares of eHealth in the 3rd quarter worth about $1,711,000. Geode Capital Management LLC lifted its position in eHealth by 101.3% during the 2nd quarter. Geode Capital Management LLC now owns 711,762 shares of the financial services provider’s stock valued at $3,097,000 after acquiring an additional 358,192 shares during the period. Finally, Millennium Management LLC lifted its position in eHealth by 74.3% during the 1st quarter. Millennium Management LLC now owns 705,704 shares of the financial services provider’s stock valued at $4,714,000 after acquiring an additional 300,792 shares during the period. 79.54% of the stock is owned by hedge funds and other institutional investors.

eHealth Company Profile

eHealth, Inc operates one of the largest online private health insurance exchanges in the United States. The company’s platform enables consumers to compare, select and enroll in individual, family and small-group health insurance plans offered by a broad network of licensed insurance carriers. In addition to Affordable Care Act–compliant offerings, eHealth provides dedicated services for Medicare Advantage, Medicare Supplement and Medicare Part D prescription drug plans, helping seniors navigate the complexities of Medicare coverage.

Through its digital marketplace, eHealth delivers real-time quotes, detailed plan comparisons and enrollment processing.