Short Interest in Trxade Group, Inc. (NASDAQ:MEDS) Increases By 561.8%


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Trxade Group, Inc. (NASDAQ:MEDS) saw a large growth in short interest during the month of March. As of March 31st, there was short interest totalling 36,400 shares, a growth of 561.8% from the March 15th total of 5,500 shares. Based on an average trading volume of 99,100 shares, the short-interest ratio is presently 0.4 days. Approximately 1.2% of the shares of the stock are short sold.

Several hedge funds have recently added to or reduced their stakes in MEDS. BlackRock Inc. increased its position in shares of Trxade Group by 28.9% in the third quarter. BlackRock Inc. now owns 10,426 shares of the company’s stock valued at $65,000 after acquiring an additional 2,336 shares during the period. Renaissance Technologies LLC bought a new stake in shares of Trxade Group during the 4th quarter valued at about $212,000. Finally, National Asset Management Inc. bought a new stake in shares of Trxade Group during the 4th quarter valued at about $454,000. Hedge funds and other institutional investors own 13.13% of the company’s stock.

MEDS stock opened at $4.97 on Tuesday. The firm’s 50-day moving average price is $6.09 and its two-hundred day moving average price is $5.75. Trxade Group has a 12-month low of $4.02 and a 12-month high of $8.25. The stock has a market capitalization of $40.22 million, a price-to-earnings ratio of 165.67, a PEG ratio of 0.83 and a beta of 1.42. The company has a current ratio of 19.89, a quick ratio of 16.81 and a debt-to-equity ratio of 0.02.

Trxade Group (NASDAQ:MEDS) last released its quarterly earnings data on Sunday, March 28th. The company reported ($0.20) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.01 by ($0.21). Trxade Group had a negative net margin of 4.28% and a negative return on equity of 8.28%. Equities analysts predict that Trxade Group will post -0.02 EPS for the current year.

A number of research firms have recently issued reports on MEDS. Colliers Securities reaffirmed a “buy” rating and set a $10.00 price objective on shares of Trxade Group in a report on Tuesday, March 30th. Maxim Group started coverage on shares of Trxade Group in a research report on Friday, February 26th. They issued a “buy” rating on the stock. Finally, Zacks Investment Research cut shares of Trxade Group from a “hold” rating to a “sell” rating in a research report on Wednesday, March 31st. One research analyst has rated the stock with a sell rating, one has assigned a hold rating and four have assigned a buy rating to the company. The company presently has a consensus rating of “Buy” and an average price target of $10.81.

About Trxade Group

Trxade Group, Inc, together with its subsidiaries, operates a business-to-business (B2B) web-based marketplace focused on the pharmaceutical industry in the United States. It operates through Trxade, Inc; Community Specialty Pharmacy, LLC; Integra Pharma, LLC; and Other segments. The company operates a web-based market platform that enables commerce among healthcare buyers and sellers of pharmaceuticals, accessories, and services.

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