eHealth, Inc. (NASDAQ:EHTH) Sees Significant Drop in Short Interest

eHealth, Inc. (NASDAQ:EHTH) was the target of a significant drop in short interest during the month of March. As of March 31st, there was short interest totalling 1,110,000 shares, a drop of 9.0% from the March 15th total of 1,220,000 shares. Based on an average daily trading volume, of 308,200 shares, the days-to-cover ratio is currently 3.6 days.

eHealth Stock Performance

Shares of eHealth stock traded up $0.05 during trading hours on Wednesday, reaching $4.34. The company had a trading volume of 256,114 shares, compared to its average volume of 307,442. eHealth has a one year low of $4.28 and a one year high of $10.31. The business has a fifty day simple moving average of $6.10 and a 200 day simple moving average of $7.24. The company has a debt-to-equity ratio of 0.11, a current ratio of 1.88 and a quick ratio of 1.88. The firm has a market cap of $125.60 million, a PE ratio of -1.66 and a beta of 0.40.

eHealth (NASDAQ:EHTH) last posted its quarterly earnings results on Tuesday, February 27th. The financial services provider reported $1.27 EPS for the quarter, missing analysts’ consensus estimates of $1.83 by ($0.56). eHealth had a negative return on equity of 5.54% and a negative net margin of 6.23%. The company had revenue of $247.70 million during the quarter, compared to the consensus estimate of $244.93 million. During the same period in the previous year, the business earned $1.01 earnings per share. eHealth’s revenue was up 26.2% on a year-over-year basis. On average, analysts anticipate that eHealth will post -0.99 earnings per share for the current fiscal year.

Analyst Ratings Changes

Separately, Craig Hallum downgraded eHealth from a “buy” rating to a “hold” rating and set a $7.00 target price for the company. in a research report on Thursday, January 18th. Five investment analysts have rated the stock with a hold rating, Based on data from MarketBeat, eHealth currently has a consensus rating of “Hold” and an average target price of $10.00.

Institutional Investors Weigh In On eHealth

Several large investors have recently added to or reduced their stakes in the business. Palo Alto Investors LP boosted its stake in eHealth by 8.2% during the first quarter. Palo Alto Investors LP now owns 2,689,379 shares of the financial services provider’s stock valued at $25,173,000 after buying an additional 204,900 shares during the period. 8 Knots Management LLC bought a new stake in eHealth during the fourth quarter valued at $20,895,000. BlackRock Inc. boosted its stake in eHealth by 10.1% during the second quarter. BlackRock Inc. now owns 2,352,410 shares of the financial services provider’s stock valued at $18,913,000 after buying an additional 215,658 shares during the period. Starboard Value LP boosted its stake in eHealth by 9.5% during the first quarter. Starboard Value LP now owns 2,243,117 shares of the financial services provider’s stock valued at $27,837,000 after buying an additional 195,000 shares during the period. Finally, Findell Capital Management LLC bought a new stake in eHealth during the fourth quarter valued at $12,862,000. Institutional investors own 79.54% of the company’s stock.

eHealth Company Profile

eHealth, Inc operates a health insurance marketplace that provides consumer engagement, education, and health insurance enrollment solutions in the United States. The company operates in two segments, Medicare; and Employer and Individual. The Medicare segment offers sale of Medicare-related health insurance plans, which includes Medicare advantage, Medicare Supplement, and Medicare Part D prescription drug plans to Medicare-eligible customers including but not limited to, dental, and vision insurance, as well as advertising program for marketing and other services.