Enhanced Group (NYSE:ENHA) Stock Short Interest Jumps 64.6%

Enhanced Group (NYSE:ENHA) was the recipient of a large increase in short interest during the month of September. As of September 30th, there was short interest totaling 2,922,431 shares, an increase of 64.6% from the September 15th total of 1,774,938 shares. Based on an average trading volume of 870,232 shares, the days-to-cover ratio is currently 3.4 days. Approximately 3.8% of the company’s stock are sold short.

Analyst Upgrades and Downgrades

Several brokerages have recently weighed in on ENHA. Wall Street Zen cut shares of Enhanced Group to a “strong sell” rating in a research note on Saturday, August 1st. Cantor Fitzgerald initiated coverage on shares of Enhanced Group in a research report on Wednesday, September 23rd. They issued an “overweight” rating and a $4.00 price objective on the stock. Weiss Ratings raised shares of Enhanced Group from a “sell (e)” rating to a “sell (e+)” rating in a research report on Friday, September 25th. Finally, Canaccord Genuity Group reduced their target price on shares of Enhanced Group from $6.00 to $5.00 and set a “buy” rating for the company in a report on Monday, August 17th. Two analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $4.50.

Enhanced Group Stock Performance

Enhanced Group stock opened at $1.28 on Friday. The business’s 50-day simple moving average is $1.60. Enhanced Group has a one year low of $1.06 and a one year high of $14.00. The firm has a market cap of $498.34 million, a P/E ratio of -2.92 and a beta of -1.70.

Enhanced Group’s stock is going to reverse split on the morning of Wednesday, October 28th. The 1-10 reverse split was announced on Monday, September 28th. The number of shares owned by shareholders will be adjusted after the market closes on Tuesday, October 27th.

About Enhanced Group

We are a blank check company incorporated in the British Virgin Islands as a business company with limited liability and formed for the purpose of effecting a merger, amalgamation, share exchange, asset acquisition, share purchase, reorganization or similar business combination with one or more businesses, which we refer to throughout this prospectus as our initial business combination. We have not selected any business combination target and we have not, nor has anyone on our behalf, initiated any substantive discussions, directly or indirectly, with any business combination target.