SBC Medical Group Holdings Incorporated (NASDAQ:SBC) Sees Large Drop in Short Interest

SBC Medical Group Holdings Incorporated (NASDAQ:SBC) was the target of a large decline in short interest in the month of January. As of January 15th, there was short interest totaling 302,608 shares, a decline of 24.6% from the December 31st total of 401,307 shares. Currently, 2.8% of the shares of the company are short sold. Based on an average daily trading volume, of 29,771 shares, the short-interest ratio is presently 10.2 days. Based on an average daily trading volume, of 29,771 shares, the short-interest ratio is presently 10.2 days. Currently, 2.8% of the shares of the company are short sold.

SBC Medical Group Price Performance

Shares of NASDAQ SBC traded down $0.38 during midday trading on Tuesday, reaching $4.54. The company’s stock had a trading volume of 38,516 shares, compared to its average volume of 31,173. The company has a debt-to-equity ratio of 0.07, a quick ratio of 5.06 and a current ratio of 5.10. The company has a market cap of $465.70 million, a P/E ratio of 11.07 and a beta of 1.14. The business’s 50 day moving average price is $4.21 and its two-hundred day moving average price is $4.14. SBC Medical Group has a fifty-two week low of $2.62 and a fifty-two week high of $7.00.

SBC Medical Group (NASDAQ:SBC) last posted its quarterly earnings data on Friday, November 14th. The company reported $0.12 EPS for the quarter, missing analysts’ consensus estimates of $0.13 by ($0.01). The company had revenue of $43.35 million for the quarter, compared to the consensus estimate of $46.45 million. SBC Medical Group had a return on equity of 24.17% and a net margin of 24.28%. On average, analysts forecast that SBC Medical Group will post 5.02 EPS for the current fiscal year.

Analyst Ratings Changes

SBC has been the subject of several research reports. Maxim Group assumed coverage on shares of SBC Medical Group in a research report on Wednesday, November 5th. They set a “buy” rating and a $9.00 price objective for the company. Weiss Ratings reiterated a “sell (d+)” rating on shares of SBC Medical Group in a research note on Monday, December 29th. One analyst has rated the stock with a Buy rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $9.00.

Institutional Investors Weigh In On SBC Medical Group

Several institutional investors and hedge funds have recently bought and sold shares of SBC. XTX Topco Ltd acquired a new stake in SBC Medical Group during the second quarter worth about $64,000. New York State Common Retirement Fund bought a new stake in shares of SBC Medical Group during the 2nd quarter worth approximately $104,000. Millennium Management LLC acquired a new stake in shares of SBC Medical Group during the 3rd quarter worth approximately $219,000. SBI Securities Co. Ltd. increased its stake in SBC Medical Group by 227.3% in the second quarter. SBI Securities Co. Ltd. now owns 54,177 shares of the company’s stock valued at $251,000 after acquiring an additional 37,623 shares during the last quarter. Finally, Geode Capital Management LLC acquired a new position in SBC Medical Group during the second quarter valued at approximately $455,000. Institutional investors own 60.82% of the company’s stock.

SBC Medical Group Company Profile

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.