Omada Health, Inc. (NASDAQ:OMDA) Short Interest Up 20.4% in February

Omada Health, Inc. (NASDAQ:OMDA) was the target of a significant increase in short interest in the month of February. As of February 27th, there was short interest totaling 3,600,814 shares, an increase of 20.4% from the February 12th total of 2,991,687 shares. Approximately 6.2% of the shares of the stock are short sold. Based on an average daily trading volume, of 951,369 shares, the days-to-cover ratio is currently 3.8 days. Based on an average daily trading volume, of 951,369 shares, the days-to-cover ratio is currently 3.8 days. Approximately 6.2% of the shares of the stock are short sold.

Omada Health Trading Down 1.2%

Shares of OMDA traded down $0.18 during midday trading on Tuesday, hitting $14.62. The stock had a trading volume of 1,353,459 shares, compared to its average volume of 1,394,815. Omada Health has a fifty-two week low of $10.28 and a fifty-two week high of $28.40. The business has a 50-day simple moving average of $13.88 and a two-hundred day simple moving average of $18.32. The firm has a market cap of $861.48 million and a P/E ratio of -86.00.

Omada Health (NASDAQ:OMDA) last released its quarterly earnings results on Thursday, March 5th. The company reported $0.08 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.04) by $0.12. The firm had revenue of $75.85 million for the quarter.

Analyst Upgrades and Downgrades

Several analysts recently commented on the stock. Canaccord Genuity Group cut their target price on shares of Omada Health from $28.00 to $22.00 and set a “buy” rating for the company in a research note on Friday, March 6th. Wall Street Zen upgraded shares of Omada Health from a “hold” rating to a “buy” rating in a research report on Saturday. The Goldman Sachs Group reiterated a “buy” rating and set a $26.00 price objective on shares of Omada Health in a research report on Friday, January 16th. 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 note on Friday, March 6th. Finally, Wells Fargo & Company began coverage on Omada Health in a report on Thursday, January 8th. They issued an “equal weight” rating and a $17.00 target price on the stock. Eight 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.com, the stock has an average rating of “Moderate Buy” and an average target price of $23.60.

Insider Activity at Omada Health

In related news, CFO Steven L. Cook sold 1,884 shares of Omada Health stock in a transaction dated Friday, March 13th. The stock was sold at an average price of $13.94, for a total transaction of $26,262.96. Following the transaction, the chief financial officer directly owned 200,512 shares of the company’s stock, valued at $2,795,137.28. The trade was a 0.93% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Sean P. Duffy sold 230,479 shares of the business’s stock in a transaction dated Monday, January 12th. The stock was sold at an average price of $15.60, for a total transaction of $3,595,472.40. Following the completion of the sale, the chief executive officer owned 126,644 shares in the company, valued at approximately $1,975,646.40. This trade represents a 64.54% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold 282,840 shares of company stock valued at $4,421,313 over the last 90 days.

Institutional Trading of Omada Health

Several large investors have recently added to or reduced their stakes in the company. Quarry LP acquired a new stake in shares of Omada Health in the fourth quarter worth $29,000. TD Waterhouse Canada Inc. acquired a new position in Omada Health during the fourth quarter valued at $32,000. Raymond James Financial Inc. purchased a new stake in Omada Health in the 2nd quarter worth about $32,000. Strs Ohio acquired a new stake in Omada Health during the 3rd quarter worth about $38,000. Finally, Inlight Wealth Management LLC acquired a new stake in Omada Health during the 4th quarter worth about $45,000.

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.