Short Interest in Ontrak, Inc. (NASDAQ:OTRK) Decreases By 46.0%

Ontrak, Inc. (NASDAQ:OTRK) was the recipient of a large decline in short interest during the month of March. As of March 15th, there was short interest totalling 54,500 shares, a decline of 46.0% from the February 29th total of 100,900 shares. Currently, 1.0% of the company’s shares are sold short. Based on an average trading volume of 5,090,000 shares, the days-to-cover ratio is presently 0.0 days.

Hedge Funds Weigh In On Ontrak

Institutional investors have recently modified their holdings of the business. Charles Schwab Investment Management Inc. lifted its holdings in shares of Ontrak by 51.8% in the first quarter. Charles Schwab Investment Management Inc. now owns 29,007 shares of the company’s stock valued at $66,000 after purchasing an additional 9,895 shares in the last quarter. Renaissance Technologies LLC purchased a new stake in Ontrak during the first quarter valued at about $79,000. XTX Topco Ltd lifted its stake in shares of Ontrak by 273.2% in the 1st quarter. XTX Topco Ltd now owns 50,431 shares of the company’s stock valued at $114,000 after acquiring an additional 36,918 shares during the last quarter. Two Sigma Investments LP raised its position in shares of Ontrak by 119.9% in the 1st quarter. Two Sigma Investments LP now owns 51,600 shares of the company’s stock worth $27,000 after acquiring an additional 28,131 shares in the last quarter. Finally, B. Riley Wealth Advisors Inc. purchased a new position in Ontrak in the third quarter worth about $34,000. Institutional investors and hedge funds own 12.95% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on the stock. Roth Mkm initiated coverage on shares of Ontrak in a research note on Tuesday, December 5th. They set a “buy” rating and a $4.00 price target on the stock. Roth Capital reaffirmed a “buy” rating on shares of Ontrak in a research report on Tuesday, December 5th.

Ontrak Stock Up 50.0 %

OTRK traded up $0.30 during trading on Thursday, reaching $0.89. The company had a trading volume of 24,926,776 shares, compared to its average volume of 6,134,126. The company has a market cap of $24.59 million, a P/E ratio of -0.09 and a beta of 2.20. Ontrak has a 12 month low of $0.14 and a 12 month high of $4.08. The business’s fifty day moving average price is $0.22 and its 200 day moving average price is $0.51. The company has a debt-to-equity ratio of 15.76, a current ratio of 1.14 and a quick ratio of 1.14.

Ontrak Company Profile

Ontrak, Inc operates as an artificial intelligence powered, telehealth-enabled, and virtualized healthcare company that provides in-person services to third-party payors in the United States. Its technology-enabled platform predicts people whose chronic disease will improve with behavior change, recommends effective care pathways that people are willing to follow, and engages and guides them to and through the care they need.