KindlyMD, Inc. (NASDAQ:NAKA) Short Interest Down 96.8% in May

KindlyMD, Inc. (NASDAQ:NAKA) was the target of a significant decrease in short interest during the month of May. As of May 29th, there was short interest totaling 986,003 shares, a decrease of 96.8% from the May 14th total of 30,827,459 shares. Based on an average daily trading volume, of 564,906 shares, the short-interest ratio is currently 1.7 days. Currently, 7.5% of the shares of the company are short sold.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on NAKA shares. Weiss Ratings raised shares of KindlyMD from a “sell (e+)” rating to a “sell (d-)” rating in a research note on Monday, May 11th. Maxim Group reduced their price objective on shares of KindlyMD from $60.00 to $30.00 and set a “buy” rating for the company in a research note on Monday, April 6th. Wall Street Zen raised shares of KindlyMD to a “sell” rating in a research note on Saturday, May 23rd. B. Riley Financial cut their target price on shares of KindlyMD from $40.00 to $20.00 and set a “buy” rating for the company in a research note on Monday, February 23rd. Finally, TD Cowen began coverage on shares of KindlyMD in a research note on Friday, April 10th. They set a “buy” rating and a $40.00 target price for the company. Three investment analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, KindlyMD presently has a consensus rating of “Hold” and a consensus target price of $30.00.

KindlyMD Trading Down 7.7%

NAKA traded down $0.36 during trading on Tuesday, hitting $4.32. 453,658 shares of the company traded hands, compared to its average volume of 410,150. The company has a market cap of $75.17 million, a PE ratio of -0.10 and a beta of 15.84. The stock’s 50-day simple moving average is $7.46 and its two-hundred day simple moving average is $11.93. KindlyMD has a 1 year low of $4.13 and a 1 year high of $808.00.

KindlyMD (NASDAQ:NAKA) last posted its earnings results on Wednesday, May 13th. The company reported ($15.20) earnings per share for the quarter. The company had revenue of $2.68 million for the quarter. KindlyMD had a negative net margin of 7,397.12% and a negative return on equity of 81.32%. Equities analysts expect that KindlyMD will post -16.8 EPS for the current year.

Insider Buying and Selling

In other news, CEO David F. Bailey acquired 55,115 shares of KindlyMD stock in a transaction dated Thursday, May 28th. The stock was purchased at an average cost of $5.62 per share, with a total value of $309,746.30. Following the completion of the purchase, the chief executive officer directly owned 3,175,476 shares in the company, valued at approximately $17,846,175.12. This trade represents a 1.77% increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Insiders have purchased 191,448 shares of company stock worth $992,908 over the last three months. 24.49% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On KindlyMD

Several institutional investors have recently bought and sold shares of the stock. Alyeska Investment Group L.P. bought a new position in KindlyMD during the fourth quarter valued at $8,993,000. ParaFi Capital LP bought a new position in KindlyMD during the third quarter valued at $443,055,000. Hunting Hill Global Capital LLC bought a new position in KindlyMD during the fourth quarter valued at $4,672,000. RK Capital Management LLC FL bought a new position in KindlyMD during the third quarter valued at $239,052,000. Finally, Yorkville Advisors Global LP bought a new position in KindlyMD during the third quarter valued at $231,942,000.

About KindlyMD

Kindly MD, Inc (“KindlyMD” or “Kindly”) is a Utah company formed in 2019. KindlyMD is a healthcare data company, focused on holistic pain management and reducing the impact of the opioid epidemic. KindlyMD offers direct health care to patients integrating prescription medicine and behavioral health services to reduce opioid use in the chronic pain patient population. Kindly believes these methods will help prevent and reduce addiction and dependency on opiates. Our specialty outpatient clinical services are offered on a fee-for-service basis.