Short Interest in SBC Medical Group Holdings Incorporated (NASDAQ:SBC) Increases By 66.6%

SBC Medical Group Holdings Incorporated (NASDAQ:SBC) saw a large growth in short interest in the month of July. As of July 15th, there was short interest totaling 914,813 shares, a growth of 66.6% from the June 30th total of 549,171 shares. Currently, 4.9% of the company’s shares are short sold. Based on an average trading volume of 93,798 shares, the days-to-cover ratio is presently 9.8 days.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently commented on SBC shares. Weiss Ratings lowered shares of SBC Medical Group from a “hold (c-)” rating to a “sell (d+)” rating in a report on Friday, May 22nd. Wall Street Zen upgraded SBC Medical Group to a “hold” rating in a report on Saturday, May 9th. Two analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the stock. According to MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $8.50.

SBC Medical Group Stock Down 1.9%

SBC stock opened at $3.04 on Friday. SBC Medical Group has a fifty-two week low of $2.78 and a fifty-two week high of $5.07. The business’s 50 day moving average price is $3.07 and its two-hundred day moving average price is $3.65. The company has a debt-to-equity ratio of 0.12, a quick ratio of 3.78 and a current ratio of 3.82. The company has a market capitalization of $311.83 million, a price-to-earnings ratio of 7.79 and a beta of 0.60.

SBC Medical Group (NASDAQ:SBC) last announced its earnings results on Thursday, May 14th. The company reported $0.11 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.10 by $0.01. The firm had revenue of $43.06 million during the quarter, compared to analyst estimates of $41.66 million. SBC Medical Group had a return on equity of 15.90% and a net margin of 24.09%. As a group, analysts forecast that SBC Medical Group will post 0.47 earnings per share for the current fiscal year.

Hedge Funds Weigh In On SBC Medical Group

Institutional investors have recently added to or reduced their stakes in the company. Bank of New York Mellon Corp purchased a new position in SBC Medical Group during the first quarter valued at $43,000. Goldman Sachs Group Inc. bought a new position in shares of SBC Medical Group in the 4th quarter worth about $49,000. Russell Investments Group Ltd. increased its stake in shares of SBC Medical Group by 292.0% in the 4th quarter. Russell Investments Group Ltd. now owns 11,775 shares of the company’s stock worth $51,000 after acquiring an additional 8,771 shares in the last quarter. Nuveen LLC purchased a new position in SBC Medical Group during the 4th quarter valued at about $53,000. Finally, Wells Fargo & Company MN lifted its position in SBC Medical Group by 195.1% during the 4th quarter. Wells Fargo & Company MN now owns 12,626 shares of the company’s stock valued at $54,000 after acquiring an additional 8,348 shares during the period. Institutional investors own 60.82% of the company’s stock.

About SBC Medical Group

SBC Medical Group, Inc is a publicly traded healthcare management services company listed on the Nasdaq under the ticker SBC. The company specializes in supporting in-office ancillary service providers by offering a suite of administrative and operational solutions designed to streamline practice management and enhance revenue performance. Its core mission is to help physician practices, imaging centers and other ancillary service providers focus on patient care while outsourcing complex back-office functions.

The company’s primary offerings include revenue cycle management, medical billing and coding, compliance oversight and transcription services.