Short Interest in Sharecare, Inc. (NASDAQ:SHCR) Drops By 14.9%

Sharecare, Inc. (NASDAQ:SHCR) saw a large decline in short interest during the month of June. As of June 15th, there was short interest totalling 16,522,800 shares, a decline of 14.9% from the May 31st total of 19,420,000 shares. Based on an average daily volume of 3,695,700 shares, the days-to-cover ratio is presently 4.5 days. Currently, 5.7% of the company’s stock are sold short.

Sharecare Stock Performance

Shares of NASDAQ SHCR traded up $0.03 during trading on Monday, reaching $1.38. The stock had a trading volume of 2,700,167 shares, compared to its average volume of 2,799,542. Sharecare has a one year low of $0.48 and a one year high of $1.80. The stock has a market cap of $500.13 million, a PE ratio of -3.73 and a beta of 0.49. The firm’s 50 day moving average price is $0.87 and its two-hundred day moving average price is $0.92.

Sharecare (NASDAQ:SHCR) last released its quarterly earnings data on Thursday, May 9th. The company reported ($0.08) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.04) by ($0.04). Sharecare had a negative net margin of 30.71% and a negative return on equity of 19.78%. The company had revenue of $90.86 million for the quarter, compared to analyst estimates of $103.80 million. During the same quarter in the prior year, the firm earned ($0.06) EPS. On average, research analysts expect that Sharecare will post -0.23 earnings per share for the current year.

Analysts Set New Price Targets

Several equities research analysts have issued reports on the company. BTIG Research downgraded Sharecare from a “buy” rating to a “neutral” rating in a report on Monday, April 1st. Canaccord Genuity Group downgraded Sharecare from a “strong-buy” rating to a “hold” rating in a report on Friday, June 21st. Canaccord Genuity Group reiterated a “hold” rating and issued a $1.43 price target (down from $2.00) on shares of Sharecare in a report on Friday, June 21st. Finally, Morgan Stanley boosted their price target on Sharecare from $1.00 to $1.43 and gave the company an “equal weight” rating in a report on Monday, June 24th.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Cadent Capital Advisors LLC acquired a new position in Sharecare during the 4th quarter valued at approximately $25,000. Truist Financial Corp acquired a new position in Sharecare during the 4th quarter worth $29,000. Bfsg LLC acquired a new position in Sharecare during the 4th quarter worth $41,000. Tower Research Capital LLC TRC boosted its position in Sharecare by 130.8% during the 4th quarter. Tower Research Capital LLC TRC now owns 40,806 shares of the company’s stock worth $44,000 after acquiring an additional 23,129 shares during the period. Finally, Public Employees Retirement System of Ohio acquired a new position in Sharecare during the 4th quarter worth $76,000. Institutional investors and hedge funds own 35.08% of the company’s stock.

Sharecare Company Profile

Sharecare, Inc operates as a digital healthcare platform company. Its Sharecare platform connects people, patients, providers, employers, health plans, government organizations, and communities that optimize individual and population-wide well-being. The company offers enterprise solutions based on a software-as-a-service model that allows enterprise clients to message, motivate, and manage their populations, as well as measure their population progress; a suite of data and information-driven solutions; and life sciences solutions, which provides members with personalized information, programs, and resources to improve their health and well-being.