AdaptHealth Corp. (NASDAQ:AHCO) Sees Significant Drop in Short Interest

AdaptHealth Corp. (NASDAQ:AHCO) saw a significant drop in short interest in the month of January. As of January 30th, there was short interest totaling 7,802,276 shares, a drop of 17.4% from the January 15th total of 9,443,727 shares. Based on an average daily trading volume, of 845,645 shares, the days-to-cover ratio is currently 9.2 days. Currently, 5.9% of the company’s shares are short sold. Currently, 5.9% of the company’s shares are short sold. Based on an average daily trading volume, of 845,645 shares, the days-to-cover ratio is currently 9.2 days.

Analysts Set New Price Targets

AHCO has been the topic of several research analyst reports. Weiss Ratings upgraded shares of AdaptHealth from a “sell (d+)” rating to a “hold (c-)” rating in a research report on Friday, January 30th. Zacks Research raised AdaptHealth from a “strong sell” rating to a “hold” rating in a research report on Thursday, January 1st. Wall Street Zen downgraded AdaptHealth from a “strong-buy” rating to a “buy” rating in a report on Saturday. Finally, Canaccord Genuity Group increased their price objective on AdaptHealth from $14.00 to $15.00 and gave the stock a “buy” rating in a research note on Thursday, November 6th. Four investment analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $14.25.

AdaptHealth Price Performance

AHCO opened at $10.30 on Wednesday. The stock has a fifty day moving average price of $10.27 and a 200 day moving average price of $9.65. The company has a current ratio of 1.08, a quick ratio of 0.86 and a debt-to-equity ratio of 1.09. AdaptHealth has a 1 year low of $7.11 and a 1 year high of $11.63. The stock has a market cap of $1.39 billion, a price-to-earnings ratio of 18.73, a PEG ratio of 1.16 and a beta of 1.72.

Insider Buying and Selling at AdaptHealth

In other news, Director David Solomon Williams III sold 5,000 shares of the business’s stock in a transaction that occurred on Thursday, December 4th. The shares were sold at an average price of $9.43, for a total transaction of $47,150.00. Following the sale, the director owned 45,045 shares in the company, valued at $424,774.35. The trade was a 9.99% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 1.55% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On AdaptHealth

Hedge funds have recently added to or reduced their stakes in the company. Exchange Traded Concepts LLC acquired a new stake in AdaptHealth in the 3rd quarter worth approximately $1,171,000. Allianz Asset Management GmbH raised its position in shares of AdaptHealth by 127.6% in the second quarter. Allianz Asset Management GmbH now owns 167,279 shares of the company’s stock valued at $1,577,000 after purchasing an additional 93,779 shares during the period. CSM Advisors LLC acquired a new stake in shares of AdaptHealth in the second quarter worth $6,149,000. Teacher Retirement System of Texas lifted its stake in shares of AdaptHealth by 93.3% in the second quarter. Teacher Retirement System of Texas now owns 84,396 shares of the company’s stock worth $796,000 after buying an additional 40,742 shares during the last quarter. Finally, Prospera Financial Services Inc boosted its holdings in shares of AdaptHealth by 75.2% during the 2nd quarter. Prospera Financial Services Inc now owns 43,287 shares of the company’s stock worth $408,000 after buying an additional 18,586 shares during the period. Institutional investors and hedge funds own 82.67% of the company’s stock.

About AdaptHealth

AdaptHealth, Inc operates as a leading provider of home medical equipment (HME) and related services in the United States. The company focuses on delivering respiratory care, mobility solutions and bathroom safety products to patients with chronic and acute medical needs. Through its comprehensive service offerings, AdaptHealth aims to enhance quality of life and clinical outcomes for patients who require long-term support outside of a hospital setting.

The company’s respiratory portfolio includes products such as continuous positive airway pressure (CPAP) devices, oxygen concentrators, ventilators, and associated supplies for patients with sleep apnea, COPD and other pulmonary conditions.