Short Interest in OptimizeRx Co. (NASDAQ:OPRX) Grows By 22.0%

OptimizeRx Co. (NASDAQ:OPRX) was the recipient of a large increase in short interest in the month of March. As of March 15th, there was short interest totalling 1,720,000 shares, an increase of 22.0% from the February 28th total of 1,410,000 shares. Approximately 11.1% of the shares of the stock are short sold. Based on an average daily volume of 502,300 shares, the short-interest ratio is presently 3.4 days.

OptimizeRx Trading Down 2.7 %

OptimizeRx stock traded down $0.22 during trading hours on Wednesday, reaching $7.96. The company had a trading volume of 73,102 shares, compared to its average volume of 261,173. The company has a debt-to-equity ratio of 0.29, a current ratio of 3.23 and a quick ratio of 3.23. OptimizeRx has a 12-month low of $3.78 and a 12-month high of $14.13. The company has a 50-day moving average price of $6.38 and a 200 day moving average price of $5.98. The firm has a market cap of $147.24 million, a price-to-earnings ratio of -6.00 and a beta of 1.31.

Insider Buying and Selling at OptimizeRx

In other news, Director James Paul Lang purchased 321,408 shares of the firm’s stock in a transaction dated Friday, March 14th. The shares were purchased at an average price of $7.60 per share, with a total value of $2,442,700.80. Following the completion of the acquisition, the director now owns 389,452 shares in the company, valued at $2,959,835.20. This trade represents a 472.35 % increase in their position. The acquisition was disclosed in a filing with the SEC, which is available through this hyperlink. Insiders own 6.10% of the company’s stock.

Institutional Investors Weigh In On OptimizeRx

Large investors have recently added to or reduced their stakes in the company. SBI Securities Co. Ltd. purchased a new stake in shares of OptimizeRx during the fourth quarter worth about $25,000. BNP Paribas Financial Markets raised its position in OptimizeRx by 189.2% during the 3rd quarter. BNP Paribas Financial Markets now owns 3,690 shares of the company’s stock valued at $28,000 after purchasing an additional 2,414 shares during the last quarter. SG Americas Securities LLC purchased a new stake in OptimizeRx in the 4th quarter worth approximately $51,000. Wells Fargo & Company MN grew its position in shares of OptimizeRx by 33.3% in the 4th quarter. Wells Fargo & Company MN now owns 11,208 shares of the company’s stock worth $54,000 after buying an additional 2,797 shares during the last quarter. Finally, Graham Capital Management L.P. purchased a new position in shares of OptimizeRx during the fourth quarter valued at approximately $81,000. Institutional investors own 76.47% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on the stock. B. Riley raised shares of OptimizeRx to a “strong-buy” rating in a report on Wednesday, March 12th. JMP Securities reaffirmed a “market outperform” rating and set a $8.00 price target on shares of OptimizeRx in a research note on Thursday, February 6th. Royal Bank of Canada reiterated a “sector perform” rating and set a $6.00 price objective (down from $7.00) on shares of OptimizeRx in a research report on Wednesday, January 8th. Stephens began coverage on OptimizeRx in a research report on Friday, December 20th. They issued an “equal weight” rating and a $5.50 target price for the company. Finally, Lake Street Capital reaffirmed a “buy” rating and issued a $11.00 target price on shares of OptimizeRx in a research note on Tuesday, December 24th. Three research analysts have rated the stock with a hold rating, five have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $9.06.

About OptimizeRx

OptimizeRx Corporation, a digital health technology company, enables care-focused engagement between life sciences organizations, healthcare providers, and patients at critical junctures throughout the patient care journey. It offers various tech-enabled marketing solutions through its Artificial Intelligence-generated Dynamic Audience and Activation Platform, which enables customers to execute traditional marketing campaigns on its proprietary digital point-of-care network, as well as dynamic marketing campaigns that optimize audiences in real time to increase the value of treatment information for healthcare professionals and patients in response to clinical care events.