Short Interest in CareMax, Inc. (NASDAQ:CMAX) Declines By 8.0%

CareMax, Inc. (NASDAQ:CMAX) saw a large decline in short interest during the month of August. As of August 31st, there was short interest totalling 178,200 shares, a decline of 8.0% from the August 15th total of 193,700 shares. Approximately 7.6% of the shares of the stock are short sold. Based on an average daily trading volume, of 2,910,000 shares, the short-interest ratio is presently 0.1 days.

Hedge Funds Weigh In On CareMax

Several hedge funds and other institutional investors have recently modified their holdings of the business. Mirae Asset Global Investments Co. Ltd. acquired a new stake in CareMax in the 1st quarter valued at about $130,000. CastleKnight Management LP increased its holdings in shares of CareMax by 193.0% in the fourth quarter. CastleKnight Management LP now owns 374,700 shares of the company’s stock valued at $187,000 after purchasing an additional 246,800 shares during the last quarter. Finally, Eminence Capital LP increased its holdings in shares of CareMax by 5.5% in the fourth quarter. Eminence Capital LP now owns 10,424,657 shares of the company’s stock valued at $5,194,000 after purchasing an additional 539,544 shares during the last quarter. 65.94% of the stock is owned by hedge funds and other institutional investors.

CareMax Price Performance

NASDAQ:CMAX traded up $0.12 during trading hours on Thursday, hitting $2.30. 14,036 shares of the stock were exchanged, compared to its average volume of 1,085,563. The firm’s fifty day moving average price is $3.33 and its 200 day moving average price is $3.69. CareMax has a 52-week low of $1.55 and a 52-week high of $85.20. The company has a market cap of $8.75 million, a P/E ratio of -0.01 and a beta of 0.75. The company has a current ratio of 0.23, a quick ratio of 0.23 and a debt-to-equity ratio of 0.09.

CareMax (NASDAQ:CMAX) last issued its quarterly earnings results on Friday, August 9th. The company reported ($10.48) EPS for the quarter, missing the consensus estimate of ($7.51) by ($2.97). The firm had revenue of $198.63 million for the quarter, compared to analysts’ expectations of $233.53 million. CareMax had a negative return on equity of 175.40% and a negative net margin of 99.78%. As a group, equities research analysts anticipate that CareMax will post -23.93 EPS for the current fiscal year.

About CareMax

CareMax, Inc provides care and chronic disease management services through physicians and health care professionals. It offers a suite of health care and social services to its patients, including primary care, specialty care, telemedicine, health and wellness, optometry, dental, pharmacy, and transportation; and services to children and adults through Medicaid programs, as well as through commercial insurance plans.