ProPhase Labs, Inc. (NASDAQ:PRPH) Sees Large Drop in Short Interest

ProPhase Labs, Inc. (NASDAQ:PRPH) was the recipient of a large drop in short interest in the month of March. As of March 15th, there was short interest totalling 793,400 shares, a drop of 52.2% from the February 28th total of 1,660,000 shares. Approximately 4.2% of the company’s shares are short sold. Based on an average daily volume of 9,120,000 shares, the short-interest ratio is currently 0.1 days.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the business. Renaissance Technologies LLC increased its stake in ProPhase Labs by 33.2% during the 4th quarter. Renaissance Technologies LLC now owns 286,485 shares of the company’s stock worth $217,000 after buying an additional 71,375 shares during the period. HighTower Advisors LLC grew its stake in shares of ProPhase Labs by 32.2% during the fourth quarter. HighTower Advisors LLC now owns 236,781 shares of the company’s stock worth $179,000 after purchasing an additional 57,736 shares in the last quarter. Sheets Smith Wealth Management acquired a new stake in ProPhase Labs in the fourth quarter valued at $158,000. Geode Capital Management LLC increased its holdings in shares of ProPhase Labs by 26.6% in the 4th quarter. Geode Capital Management LLC now owns 203,528 shares of the company’s stock valued at $154,000 after acquiring an additional 42,793 shares during the last quarter. Finally, Perritt Capital Management Inc raised its position in shares of ProPhase Labs by 129.1% during the 4th quarter. Perritt Capital Management Inc now owns 190,000 shares of the company’s stock worth $144,000 after acquiring an additional 107,068 shares in the last quarter. Hedge funds and other institutional investors own 9.45% of the company’s stock.

Wall Street Analyst Weigh In

Separately, StockNews.com began coverage on ProPhase Labs in a research report on Tuesday, February 25th. They issued a “sell” rating on the stock.

ProPhase Labs Trading Down 4.3 %

PRPH traded down $0.02 during mid-day trading on Friday, hitting $0.44. 3,276,359 shares of the stock were exchanged, compared to its average volume of 2,472,609. The company has a market cap of $10.50 million, a PE ratio of -0.35 and a beta of -0.53. The company has a current ratio of 1.47, a quick ratio of 1.33 and a debt-to-equity ratio of 0.48. The firm’s fifty day moving average is $0.41 and its two-hundred day moving average is $1.09. ProPhase Labs has a 1-year low of $0.22 and a 1-year high of $7.48.

About ProPhase Labs

ProPhase Labs, Inc develops and commercializes novel drugs, dietary supplements, and compounds in the United States. It operates through two segments: Diagnostic Services and Consumer Products. The company provides a range of TK supplements, including Legendz XL for male sexual health; and Triple Edge XL, an energy and stamina booster.