Short Interest in Community Health Systems, Inc. (NYSE:CYH) Decreases By 5.5%

Community Health Systems, Inc. (NYSE:CYH) was the recipient of a significant drop in short interest during the month of September. As of September 30th, there was short interest totalling 6,880,000 shares, a drop of 5.5% from the September 15th total of 7,280,000 shares. Approximately 5.6% of the shares of the company are short sold. Based on an average daily volume of 1,590,000 shares, the days-to-cover ratio is presently 4.3 days.

Community Health Systems Trading Up 5.0 %

Shares of CYH opened at $5.91 on Thursday. Community Health Systems has a 12 month low of $2.01 and a 12 month high of $6.29. The stock’s 50 day moving average is $5.47 and its two-hundred day moving average is $4.25. The firm has a market cap of $821.29 million, a P/E ratio of -6.22 and a beta of 1.55.

Community Health Systems (NYSE:CYH) last issued its quarterly earnings data on Wednesday, July 24th. The company reported ($0.17) EPS for the quarter, missing the consensus estimate of ($0.12) by ($0.05). The business had revenue of $3.14 billion during the quarter, compared to the consensus estimate of $3.10 billion. During the same quarter in the prior year, the firm posted ($0.22) earnings per share. The company’s revenue for the quarter was up .8% compared to the same quarter last year. Equities research analysts forecast that Community Health Systems will post -0.41 EPS for the current year.

Institutional Trading of Community Health Systems

Institutional investors have recently made changes to their positions in the company. nVerses Capital LLC acquired a new stake in shares of Community Health Systems in the second quarter worth approximately $25,000. DekaBank Deutsche Girozentrale acquired a new stake in shares of Community Health Systems in the second quarter worth approximately $33,000. Canada Pension Plan Investment Board acquired a new stake in shares of Community Health Systems in the second quarter worth approximately $45,000. CWM LLC boosted its stake in shares of Community Health Systems by 32.1% in the third quarter. CWM LLC now owns 12,191 shares of the company’s stock worth $74,000 after acquiring an additional 2,961 shares during the last quarter. Finally, BOS Asset Management LLC acquired a new stake in shares of Community Health Systems in the first quarter worth approximately $80,000. 84.99% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on CYH shares. Wells Fargo & Company raised their price objective on Community Health Systems from $3.50 to $5.00 and gave the stock an “equal weight” rating in a research note on Tuesday, July 30th. Royal Bank of Canada reiterated an “outperform” rating and set a $6.00 price target on shares of Community Health Systems in a research report on Monday, August 12th. Oppenheimer lifted their price target on Community Health Systems from $4.50 to $5.00 and gave the company an “outperform” rating in a research report on Thursday, July 25th. Truist Financial lifted their price target on Community Health Systems from $3.75 to $4.25 and gave the company a “hold” rating in a research report on Monday, July 15th. Finally, UBS Group lifted their price target on Community Health Systems from $4.70 to $5.10 and gave the company a “neutral” rating in a research report on Wednesday, August 14th. Five research analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $4.73.

About Community Health Systems

Community Health Systems, Inc owns, leases, and operates general acute care hospitals in the United States. It offers general acute care, emergency room, general and specialty surgery, critical care, internal medicine, obstetrics, diagnostic, psychiatric, and rehabilitation services, as well as skilled nursing and home care services.