SBC Medical Group Holdings Incorporated (NASDAQ:SBC) Short Interest Up 179.2% in December

SBC Medical Group Holdings Incorporated (NASDAQ:SBC) was the recipient of a large growth in short interest in the month of December. As of December 31st, there was short interest totaling 401,307 shares, a growth of 179.2% from the December 15th total of 143,744 shares. Based on an average trading volume of 106,270 shares, the days-to-cover ratio is presently 3.8 days. Currently, 3.7% of the shares of the stock are sold short. Currently, 3.7% of the shares of the stock are sold short. Based on an average trading volume of 106,270 shares, the days-to-cover ratio is presently 3.8 days.

Institutional Trading of SBC Medical Group

Hedge funds and other institutional investors have recently modified their holdings of the stock. XTX Topco Ltd purchased a new position in shares of SBC Medical Group during the 2nd quarter worth $64,000. New York State Common Retirement Fund purchased a new position in SBC Medical Group during the second quarter worth about $104,000. Millennium Management LLC acquired a new position in SBC Medical Group in the 3rd quarter valued at about $219,000. SBI Securities Co. Ltd. boosted its holdings in SBC Medical Group by 227.3% in the 2nd quarter. SBI Securities Co. Ltd. now owns 54,177 shares of the company’s stock valued at $251,000 after purchasing an additional 37,623 shares during the last quarter. Finally, Geode Capital Management LLC purchased a new stake in shares of SBC Medical Group in the 2nd quarter valued at approximately $455,000. 60.82% of the stock is owned by institutional investors and hedge funds.

SBC Medical Group Price Performance

SBC Medical Group stock opened at $4.46 on Wednesday. The company has a fifty day simple moving average of $3.88 and a 200-day simple moving average of $4.18. The company has a quick ratio of 5.06, a current ratio of 5.10 and a debt-to-equity ratio of 0.07. The firm has a market capitalization of $457.51 million, a price-to-earnings ratio of 10.88 and a beta of 1.14. SBC Medical Group has a 52-week low of $2.62 and a 52-week high of $7.00.

SBC Medical Group (NASDAQ:SBC) last posted its quarterly earnings results on Friday, November 14th. The company reported $0.12 earnings per share for the quarter, missing analysts’ consensus estimates of $0.13 by ($0.01). SBC Medical Group had a return on equity of 24.17% and a net margin of 24.28%.The business had revenue of $43.35 million for the quarter, compared to analyst estimates of $46.45 million. On average, equities analysts anticipate that SBC Medical Group will post 5.02 EPS for the current fiscal year.

Analyst Ratings Changes

SBC has been the subject of a number of research analyst reports. Maxim Group initiated coverage on shares of SBC Medical Group in a research report on Wednesday, November 5th. They set a “buy” rating and a $9.00 price objective for the company. Wall Street Zen raised shares of SBC Medical Group from a “hold” rating to a “buy” rating in a research note on Saturday, September 20th. Finally, Weiss Ratings reaffirmed a “sell (d+)” rating on shares of SBC Medical Group in a research note on Monday, December 29th. One research analyst has rated the stock with a Buy rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, SBC Medical Group presently has an average rating of “Hold” and an average price target of $9.00.

SBC Medical Group Company Profile

SBC Medical Group, Inc is a publicly traded healthcare management services company listed on the Nasdaq under the ticker SBC. The company specializes in supporting in-office ancillary service providers by offering a suite of administrative and operational solutions designed to streamline practice management and enhance revenue performance. Its core mission is to help physician practices, imaging centers and other ancillary service providers focus on patient care while outsourcing complex back-office functions.

The company’s primary offerings include revenue cycle management, medical billing and coding, compliance oversight and transcription services.