Short Interest in Nutex Health Inc. (NASDAQ:NUTX) Declines By 63.7%

Nutex Health Inc. (NASDAQ:NUTX) was the recipient of a large drop in short interest in October. As of October 31st, there was short interest totalling 35,700 shares, a drop of 63.7% from the October 15th total of 98,300 shares. Based on an average daily trading volume, of 74,100 shares, the days-to-cover ratio is presently 0.5 days. Currently, 1.2% of the shares of the company are short sold.

Insiders Place Their Bets

In other Nutex Health news, CFO Jon Christian Bates acquired 1,350 shares of the business’s stock in a transaction that occurred on Thursday, August 22nd. The stock was bought at an average cost of $21.46 per share, with a total value of $28,971.00. Following the acquisition, the chief financial officer now owns 2,277 shares in the company, valued at approximately $48,864.42. This represents a 100.00 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is accessible through the SEC website. Insiders own 38.52% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of the stock. Essex Investment Management Co. LLC acquired a new stake in shares of Nutex Health in the third quarter worth approximately $1,579,000. International Assets Investment Management LLC acquired a new position in shares of Nutex Health in the 3rd quarter valued at $188,000. Finally, Thompson Davis & CO. Inc. purchased a new stake in shares of Nutex Health in the 3rd quarter valued at approximately $494,000. Institutional investors and hedge funds own 5.32% of the company’s stock.

Nutex Health Price Performance

NASDAQ NUTX traded down $4.86 during trading on Wednesday, hitting $32.70. 71,666 shares of the stock traded hands, compared to its average volume of 42,467. The company has a market capitalization of $177.89 million, a P/E ratio of -3.57 and a beta of 0.11. Nutex Health has a 12-month low of $4.16 and a 12-month high of $39.48. The company has a quick ratio of 1.55, a current ratio of 1.77 and a debt-to-equity ratio of 3.36. The firm has a 50-day simple moving average of $23.00 and a 200-day simple moving average of $13.82.

Analysts Set New Price Targets

Several research firms recently issued reports on NUTX. Maxim Group raised their price target on Nutex Health from $45.00 to $50.00 and gave the stock a “buy” rating in a research report on Tuesday. Benchmark upped their price objective on Nutex Health from $45.00 to $60.00 and gave the company a “buy” rating in a research report on Tuesday.

About Nutex Health

Nutex Health Inc operates as a physician-led, healthcare services, and operations company. It operates through three segments: Hospital, Population Health Management (PHM), and Real Estate. The PHM segment establishes and operates independent physician associations; and offers a cloud-based platform for healthcare organizations to provide value-based care and population health management.