Short Interest in CareMax, Inc. (NASDAQ:CMAX) Drops By 38.3%

CareMax, Inc. (NASDAQ:CMAX) was the recipient of a significant decline in short interest in September. As of September 15th, there was short interest totalling 110,000 shares, a decline of 38.3% from the August 31st total of 178,200 shares. Based on an average daily trading volume, of 2,910,000 shares, the short-interest ratio is presently 0.0 days. Approximately 4.7% of the company’s shares are sold short.

Institutional Investors Weigh In On CareMax

Several hedge funds and other institutional investors have recently modified their holdings of CMAX. CastleKnight Management LP raised its position in shares of CareMax by 193.0% during the 4th quarter. CastleKnight Management LP now owns 374,700 shares of the company’s stock valued at $187,000 after acquiring an additional 246,800 shares in the last quarter. Eminence Capital LP boosted its stake in CareMax by 5.5% during the 4th quarter. Eminence Capital LP now owns 10,424,657 shares of the company’s stock valued at $5,194,000 after purchasing an additional 539,544 shares during the period. Finally, Mirae Asset Global Investments Co. Ltd. bought a new position in CareMax in the 1st quarter worth approximately $130,000. Institutional investors own 65.94% of the company’s stock.

CareMax Trading Up 4.1 %

Shares of CMAX stock traded up $0.07 during mid-day trading on Thursday, reaching $1.77. The company’s stock had a trading volume of 29,800 shares, compared to its average volume of 1,058,728. CareMax has a 12-month low of $1.55 and a 12-month high of $85.20. The firm has a market capitalization of $6.73 million, a PE ratio of -0.01 and a beta of 0.75. The company has a quick ratio of 0.23, a current ratio of 0.23 and a debt-to-equity ratio of 0.09. The company’s 50 day simple moving average is $3.32 and its 200-day simple moving average is $3.33.

CareMax (NASDAQ:CMAX) last released its quarterly earnings results on Friday, August 9th. The company reported ($10.48) EPS for the quarter, missing the consensus estimate of ($7.51) by ($2.97). The business had revenue of $198.63 million during the quarter, compared to analyst estimates of $233.53 million. CareMax had a negative return on equity of 175.40% and a negative net margin of 99.78%. On average, research analysts predict that CareMax will post -36.97 EPS for the current fiscal year.

About CareMax

CareMax, Inc provides care and chronic disease management services through physicians and health care professionals. It offers a suite of health care and social services to its patients, including primary care, specialty care, telemedicine, health and wellness, optometry, dental, pharmacy, and transportation; and services to children and adults through Medicaid programs, as well as through commercial insurance plans.