Ontrak, Inc. (NASDAQ:OTRK) Sees Significant Decrease in Short Interest

Ontrak, Inc. (NASDAQ:OTRK) was the target of a significant drop in short interest in the month of September. As of September 15th, there was short interest totalling 14,700 shares, a drop of 95.6% from the August 31st total of 333,100 shares. Based on an average trading volume of 42,000 shares, the days-to-cover ratio is presently 0.4 days.

Wall Street Analyst Weigh In

Separately, Roth Mkm lowered their price target on shares of Ontrak from $4.00 to $3.00 and set a “buy” rating on the stock in a research report on Friday, August 9th.

Institutional Inflows and Outflows

A hedge fund recently bought a new stake in Ontrak stock. Armistice Capital LLC bought a new position in Ontrak, Inc. (NASDAQ:OTRK) during the fourth quarter, according to its most recent filing with the SEC. The firm bought 2,886,000 shares of the company’s stock, valued at approximately $1,157,000. Armistice Capital LLC owned approximately 10.47% of Ontrak as of its most recent SEC filing. Institutional investors and hedge funds own 12.95% of the company’s stock.

Ontrak Stock Performance

OTRK traded down $0.06 during trading hours on Wednesday, hitting $2.54. 139,916 shares of the stock were exchanged, compared to its average volume of 184,639. The stock has a 50-day simple moving average of $0.34 and a 200-day simple moving average of $0.30. The stock has a market cap of $8.13 million, a price-to-earnings ratio of -0.61 and a beta of 2.58. The company has a debt-to-equity ratio of 0.43, a current ratio of 3.64 and a quick ratio of 3.64. Ontrak has a 12 month low of $2.03 and a 12 month high of $21.29.

Ontrak (NASDAQ:OTRK) last released its earnings results on Thursday, August 8th. The company reported ($0.19) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.10) by ($0.09). The firm had revenue of $2.45 million for the quarter, compared to analyst estimates of $2.60 million. Ontrak had a negative return on equity of 238.43% and a negative net margin of 222.54%. During the same period in the prior year, the firm earned ($1.84) EPS. Analysts anticipate that Ontrak will post -7.35 earnings per share for the current year.

Ontrak Company Profile

Ontrak, Inc operates as an artificial intelligence powered, telehealth-enabled, and virtualized healthcare company that provides in-person services to third-party payors in the United States. Its technology-enabled platform predicts people whose chronic disease will improve with behavior change, recommends effective care pathways that people are willing to follow, and engages and guides them to and through the care they need.