Community Health Systems, Inc. (NYSE:CYH) Short Interest Down 10.6% in September

Community Health Systems, Inc. (NYSE:CYH) saw a significant drop in short interest in the month of September. As of September 15th, there was short interest totalling 7,280,000 shares, a drop of 10.6% from the August 31st total of 8,140,000 shares. Currently, 6.0% of the shares of the stock are sold short. Based on an average daily volume of 1,690,000 shares, the short-interest ratio is presently 4.3 days.

Community Health Systems Stock Down 0.5 %

CYH traded down $0.03 during trading on Friday, reaching $6.01. The stock had a trading volume of 873,447 shares, compared to its average volume of 1,788,718. Community Health Systems has a 1-year low of $2.01 and a 1-year high of $6.29. The stock has a 50 day moving average of $5.26 and a two-hundred day moving average of $4.04. The firm has a market capitalization of $835.19 million, a price-to-earnings ratio of -6.33 and a beta of 1.56.

Community Health Systems (NYSE:CYH) last announced its earnings results on Wednesday, July 24th. The company reported ($0.17) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.12) by ($0.05). The business had revenue of $3.14 billion during the quarter, compared to analysts’ expectations of $3.10 billion. During the same period in the prior year, the firm earned ($0.22) earnings per share. The firm’s revenue for the quarter was up .8% on a year-over-year basis. On average, research analysts forecast that Community Health Systems will post -0.42 EPS for the current fiscal year.

Hedge Funds Weigh In On Community Health Systems

Large investors have recently added to or reduced their stakes in the company. Assenagon Asset Management S.A. acquired a new stake in shares of Community Health Systems during the second quarter valued at about $5,121,000. Apollo Management Holdings L.P. purchased a new stake in shares of Community Health Systems during the first quarter valued at approximately $5,149,000. Bank of Montreal Can purchased a new position in Community Health Systems in the second quarter valued at about $3,692,000. Whitebox Advisors LLC raised its stake in Community Health Systems by 43.3% in the 2nd quarter. Whitebox Advisors LLC now owns 3,020,933 shares of the company’s stock valued at $10,150,000 after acquiring an additional 913,542 shares during the period. Finally, Susquehanna Fundamental Investments LLC bought a new position in shares of Community Health Systems in the first quarter worth $1,132,000. Institutional investors own 84.99% of the company’s stock.

Wall Street Analysts Forecast Growth

CYH has been the subject of a number of analyst reports. Truist Financial upped their price objective on shares of Community Health Systems from $3.75 to $4.25 and gave the company a “hold” rating in a report on Monday, July 15th. Oppenheimer upped their price objective on Community Health Systems from $4.50 to $5.00 and gave the stock an “outperform” rating in a research report on Thursday, July 25th. Wells Fargo & Company lifted their target price on shares of Community Health Systems from $3.50 to $5.00 and gave the company an “equal weight” rating in a report on Tuesday, July 30th. Royal Bank of Canada reiterated an “outperform” rating and set a $6.00 target price on shares of Community Health Systems in a research report on Monday, August 12th. Finally, UBS Group boosted their price objective on shares of Community Health Systems from $4.70 to $5.10 and gave the stock a “neutral” rating in a report on Wednesday, August 14th. Five research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Community Health Systems presently has an average rating of “Hold” and a consensus target price of $4.73.

About Community Health Systems

Community Health Systems, Inc owns, leases, and operates general acute care hospitals in the United States. It offers general acute care, emergency room, general and specialty surgery, critical care, internal medicine, obstetrics, diagnostic, psychiatric, and rehabilitation services, as well as skilled nursing and home care services.