KindlyMD, Inc. (NASDAQ:NAKA) Short Interest Down 96.8% in May

KindlyMD, Inc. (NASDAQ:NAKA) was the target of a significant drop in short interest during the month of May. As of May 29th, there was short interest totaling 986,003 shares, a drop of 96.8% from the May 14th total of 30,827,459 shares. Based on an average daily volume of 564,906 shares, the days-to-cover ratio is presently 1.7 days. Currently, 7.5% of the shares of the stock are sold short.

Insider Buying and Selling

In other KindlyMD news, CEO David F. Bailey acquired 104,833 shares of the stock in a transaction on Wednesday, May 27th. The stock was acquired at an average price of $4.84 per share, for a total transaction of $507,391.72. Following the completion of the transaction, the chief executive officer directly owned 3,120,361 shares of the company’s stock, valued at $15,102,547.24. This trade represents a 3.48% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders have acquired a total of 191,448 shares of company stock worth $992,908 in the last three months. 24.49% of the stock is owned by company insiders.

Institutional Investors Weigh In On KindlyMD

Several institutional investors have recently made changes to their positions in the company. Geode Capital Management LLC increased its stake in KindlyMD by 76.2% in the 2nd quarter. Geode Capital Management LLC now owns 19,394 shares of the company’s stock worth $484,000 after buying an additional 8,386 shares during the period. Osaic Holdings Inc. purchased a new position in KindlyMD in the 2nd quarter worth about $215,000. RFG Advisory LLC purchased a new position in KindlyMD in the 3rd quarter worth about $1,019,000. HighTower Advisors LLC purchased a new position in KindlyMD in the 3rd quarter worth about $12,970,000. Finally, Vanguard Group Inc. increased its stake in KindlyMD by 32,737.0% in the 3rd quarter. Vanguard Group Inc. now owns 6,036,750 shares of the company’s stock worth $150,557,000 after buying an additional 6,018,366 shares during the period.

Wall Street Analyst Weigh In

Several equities analysts have commented on NAKA shares. TD Cowen started coverage on shares of KindlyMD in a research report on Friday, April 10th. They set a “buy” rating and a $40.00 price objective for the company. Weiss Ratings upgraded shares of KindlyMD from a “sell (e+)” rating to a “sell (d-)” rating in a research report on Monday, May 11th. Maxim Group lowered their price objective on shares of KindlyMD from $60.00 to $30.00 and set a “buy” rating for the company in a research report on Monday, April 6th. Wall Street Zen upgraded shares of KindlyMD to a “sell” rating in a report on Saturday, May 23rd. Finally, B. Riley Financial lowered their target price on shares of KindlyMD from $40.00 to $20.00 and set a “buy” rating for the company in a report on Monday, February 23rd. Three research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Hold” and a consensus target price of $30.00.

KindlyMD Price Performance

Shares of KindlyMD stock traded down $0.36 during trading on Tuesday, hitting $4.32. The stock had a trading volume of 453,658 shares, compared to its average volume of 410,150. The firm’s fifty day simple moving average is $7.46 and its 200-day simple moving average is $11.93. The stock has a market cap of $75.17 million, a PE ratio of -0.10 and a beta of 15.84. KindlyMD has a 12 month low of $4.13 and a 12 month high of $808.00.

KindlyMD (NASDAQ:NAKA) last released its earnings results on Wednesday, May 13th. The company reported ($15.20) earnings per share (EPS) for the quarter. The firm had revenue of $2.68 million during the quarter. KindlyMD had a negative return on equity of 81.32% and a negative net margin of 7,397.12%. Analysts expect that KindlyMD will post -16.8 earnings per share for the current fiscal year.

About KindlyMD

Kindly MD, Inc (“KindlyMD” or “Kindly”) is a Utah company formed in 2019. KindlyMD is a healthcare data company, focused on holistic pain management and reducing the impact of the opioid epidemic. KindlyMD offers direct health care to patients integrating prescription medicine and behavioral health services to reduce opioid use in the chronic pain patient population. Kindly believes these methods will help prevent and reduce addiction and dependency on opiates. Our specialty outpatient clinical services are offered on a fee-for-service basis.