Short Interest in OptimizeRx Co. (NASDAQ:OPRX) Increases By 27.6%

OptimizeRx Co. (NASDAQ:OPRX) was the target of a significant increase in short interest in August. As of August 31st, there was short interest totalling 561,900 shares, an increase of 27.6% from the July 31st total of 440,200 shares. Approximately 4.8% of the company’s stock are sold short. Based on an average daily trading volume, of 128,300 shares, the days-to-cover ratio is currently 4.4 days.

Separately, Zacks Investment Research upgraded OptimizeRx from a “hold” rating to a “buy” rating and set a $16.00 price objective for the company in a report on Wednesday, August 14th.

Institutional investors and hedge funds have recently modified their holdings of the company. Wells Fargo & Company MN lifted its holdings in OptimizeRx by 9.5% during the 2nd quarter. Wells Fargo & Company MN now owns 13,562 shares of the company’s stock worth $219,000 after buying an additional 1,180 shares during the period. Taylor Wealth Management Partners lifted its holdings in shares of OptimizeRx by 1.7% during the second quarter. Taylor Wealth Management Partners now owns 103,040 shares of the company’s stock valued at $1,669,000 after purchasing an additional 1,760 shares during the last quarter. Bank of America Corp DE lifted its holdings in shares of OptimizeRx by 15.8% during the fourth quarter. Bank of America Corp DE now owns 15,302 shares of the company’s stock valued at $168,000 after purchasing an additional 2,084 shares during the last quarter. Strs Ohio purchased a new position in shares of OptimizeRx during the second quarter valued at approximately $51,000. Finally, Venator Capital Management Ltd. lifted its holdings in shares of OptimizeRx by 2.6% during the second quarter. Venator Capital Management Ltd. now owns 214,000 shares of the company’s stock valued at $3,467,000 after purchasing an additional 5,521 shares during the last quarter. Institutional investors own 52.76% of the company’s stock.

NASDAQ OPRX traded down $0.51 during trading hours on Friday, hitting $15.66. 74,800 shares of the company traded hands, compared to its average volume of 85,680. The business’s 50-day moving average is $15.39 and its 200-day moving average is $14.34. OptimizeRx has a twelve month low of $8.92 and a twelve month high of $18.39. The company has a debt-to-equity ratio of 0.01, a quick ratio of 6.80 and a current ratio of 6.80. The stock has a market capitalization of $228.93 million, a price-to-earnings ratio of 313.20, a P/E/G ratio of 1.81 and a beta of 0.45.

OptimizeRx (NASDAQ:OPRX) last issued its quarterly earnings results on Wednesday, August 7th. The company reported $0.03 EPS for the quarter, meeting the consensus estimate of $0.03. OptimizeRx had a return on equity of 2.89% and a net margin of 2.27%. The firm had revenue of $7.01 million during the quarter, compared to analysts’ expectations of $6.78 million. Analysts predict that OptimizeRx will post 0.22 EPS for the current year.

OptimizeRx Company Profile

OptimizeRx Corporation provides digital health messaging services for pharmaceutical companies to communicate with healthcare providers. The company's cloud-based solutions support patient adherence to medications by providing real-time access to financial assistance, prior authorization, education, and critical clinical information; and network consists of electronic health records platforms, which provide the ambulatory patient market with access to their workflow at the point-of-care.

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