CareMax, Inc. (NASDAQ:CMAX) Sees Significant Increase in Short Interest

CareMax, Inc. (NASDAQ:CMAXGet Rating) was the target of a large growth in short interest in July. As of July 31st, there was short interest totalling 4,640,000 shares, a growth of 10.5% from the July 15th total of 4,200,000 shares. Currently, 6.7% of the company’s stock are sold short. Based on an average daily trading volume, of 578,200 shares, the short-interest ratio is presently 8.0 days.

CareMax Stock Down 5.9 %

NASDAQ CMAX traded down $0.47 on Tuesday, reaching $7.53. The company had a trading volume of 250,867 shares, compared to its average volume of 423,073. The company has a quick ratio of 6.03, a current ratio of 6.06 and a debt-to-equity ratio of 0.37. The company’s fifty day moving average is $5.77 and its 200 day moving average is $6.24. CareMax has a 52-week low of $3.45 and a 52-week high of $11.00. The stock has a market capitalization of $658.10 million, a P/E ratio of -20.35 and a beta of 2.79.

Hedge Funds Weigh In On CareMax

A number of hedge funds have recently bought and sold shares of the company. UBS Group AG bought a new position in shares of CareMax during the second quarter valued at about $32,000. Arizona State Retirement System purchased a new stake in CareMax in the 2nd quarter valued at about $47,000. Strs Ohio bought a new position in shares of CareMax during the 2nd quarter worth approximately $50,000. M&T Bank Corp purchased a new position in shares of CareMax in the 2nd quarter worth approximately $74,000. Finally, PDT Partners LLC bought a new position in shares of CareMax in the second quarter valued at approximately $77,000. 69.18% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

CMAX has been the topic of a number of recent research reports. Cowen cut their target price on CareMax from $11.00 to $8.00 in a report on Wednesday, May 11th. Cowen dropped their price objective on shares of CareMax from $11.00 to $8.00 in a research note on Wednesday, May 11th. Finally, UBS Group decreased their target price on shares of CareMax to $12.00 and set a “na” rating for the company in a research report on Tuesday, May 17th.

CareMax Company Profile

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CareMax, Inc provides medical services through physicians and health care professionals. It offers a suite of health care and social services to its patients, including primary care, specialty care, telemedicine, health and wellness, optometry, dental, pharmacy, and transportation. The company also provides CareOptimize, a proprietary software and services platform that provides data, analytics, and rules-based decision tools/workflows for physicians in the United States.

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