eHealth, Inc. (NASDAQ:EHTH) Sees Large Drop in Short Interest

eHealth, Inc. (NASDAQ:EHTH) saw a significant decrease in short interest in the month of June. As of June 30th, there was short interest totaling 711,729 shares, a decrease of 53.8% from the June 15th total of 1,540,790 shares. Based on an average trading volume of 661,118 shares, the days-to-cover ratio is currently 1.1 days. Currently, 2.4% of the shares of the company are short sold.

Institutional Trading of eHealth

A number of hedge funds and other institutional investors have recently modified their holdings of EHTH. Vanguard Group Inc. boosted its holdings in shares of eHealth by 0.3% during the 3rd quarter. Vanguard Group Inc. now owns 1,526,098 shares of the financial services provider’s stock valued at $6,577,000 after purchasing an additional 4,958 shares during the last quarter. Engineers Gate Manager LP increased its holdings in shares of eHealth by 16.6% in the second quarter. Engineers Gate Manager LP now owns 41,995 shares of the financial services provider’s stock worth $183,000 after purchasing an additional 5,975 shares during the last quarter. American Century Companies Inc. lifted its position in shares of eHealth by 11.1% in the second quarter. American Century Companies Inc. now owns 65,785 shares of the financial services provider’s stock worth $286,000 after buying an additional 6,571 shares in the last quarter. Algert Global LLC boosted its stake in eHealth by 36.6% during the third quarter. Algert Global LLC now owns 32,963 shares of the financial services provider’s stock valued at $142,000 after buying an additional 8,840 shares during the last quarter. Finally, AQR Capital Management LLC grew its holdings in eHealth by 13.4% during the 4th quarter. AQR Capital Management LLC now owns 79,738 shares of the financial services provider’s stock valued at $367,000 after buying an additional 9,434 shares in the last quarter. 79.54% of the stock is owned by hedge funds and other institutional investors.

eHealth Stock Performance

NASDAQ:EHTH traded down $0.04 during mid-day trading on Thursday, hitting $1.49. 199,682 shares of the company traded hands, compared to its average volume of 595,690. The stock’s fifty day moving average price is $1.66 and its 200-day moving average price is $2.05. eHealth has a one year low of $1.20 and a one year high of $5.89. The company has a quick ratio of 3.67, a current ratio of 3.67 and a debt-to-equity ratio of 0.20. The firm has a market cap of $47.29 million, a price-to-earnings ratio of -1.55 and a beta of 1.48.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on EHTH shares. Deutsche Bank Aktiengesellschaft restated a “hold” rating and set a $3.00 price target on shares of eHealth in a research note on Friday, May 8th. Zacks Research raised shares of eHealth from a “strong sell” rating to a “hold” rating in a report on Tuesday, April 28th. Finally, Weiss Ratings reaffirmed a “sell (d)” rating on shares of eHealth in a report on Monday, May 18th. Five research analysts have rated the stock with a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, eHealth has an average rating of “Reduce” and an average price target of $3.25.

eHealth Company Profile

eHealth, Inc operates one of the largest online private health insurance exchanges in the United States. The company’s platform enables consumers to compare, select and enroll in individual, family and small-group health insurance plans offered by a broad network of licensed insurance carriers. In addition to Affordable Care Act–compliant offerings, eHealth provides dedicated services for Medicare Advantage, Medicare Supplement and Medicare Part D prescription drug plans, helping seniors navigate the complexities of Medicare coverage.

Through its digital marketplace, eHealth delivers real-time quotes, detailed plan comparisons and enrollment processing.