Short Interest in eHealth, Inc. (NASDAQ:EHTH) Drops By 53.8%

eHealth, Inc. (NASDAQ:EHTH) was the target of a significant decline in short interest during the month of June. As of June 30th, there was short interest totaling 711,729 shares, a decline of 53.8% from the June 15th total of 1,540,790 shares. Based on an average trading volume of 661,118 shares, the short-interest ratio is presently 1.1 days. Currently, 2.4% of the company’s shares are short sold.

eHealth Trading Down 0.3%

eHealth stock traded down $0.01 during mid-day trading on Tuesday, hitting $1.57. The company’s stock had a trading volume of 40,889 shares, compared to its average volume of 600,377. The company has a debt-to-equity ratio of 0.20, a quick ratio of 3.67 and a current ratio of 3.67. The company has a 50 day moving average of $1.67 and a 200-day moving average of $2.09. eHealth has a one year low of $1.20 and a one year high of $5.89. The stock has a market cap of $49.99 million, a PE ratio of -1.64 and a beta of 1.48.

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on EHTH shares. Weiss Ratings reissued a “sell (d)” rating on shares of eHealth in a research note on Monday, May 18th. Zacks Research raised shares of eHealth from a “strong sell” rating to a “hold” rating in a research note on Tuesday, April 28th. Finally, Deutsche Bank Aktiengesellschaft reiterated a “hold” rating and set a $3.00 price target on shares of eHealth in a report on Friday, May 8th. Five investment analysts have rated the stock with a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Reduce” and a consensus price target of $3.25.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in EHTH. Millennium Management LLC lifted its holdings in eHealth by 74.3% during the 1st quarter. Millennium Management LLC now owns 705,704 shares of the financial services provider’s stock valued at $4,714,000 after buying an additional 300,792 shares in the last quarter. Goldman Sachs Group Inc. grew its stake in eHealth by 38.5% in the 1st quarter. Goldman Sachs Group Inc. now owns 144,263 shares of the financial services provider’s stock worth $964,000 after acquiring an additional 40,096 shares in the last quarter. Jane Street Group LLC increased its position in shares of eHealth by 115.9% during the first quarter. Jane Street Group LLC now owns 234,894 shares of the financial services provider’s stock worth $1,569,000 after acquiring an additional 126,076 shares during the period. Geode Capital Management LLC increased its position in shares of eHealth by 101.3% during the second quarter. Geode Capital Management LLC now owns 711,762 shares of the financial services provider’s stock worth $3,097,000 after acquiring an additional 358,192 shares during the period. Finally, JPMorgan Chase & Co. raised its stake in shares of eHealth by 13.0% during the second quarter. JPMorgan Chase & Co. now owns 270,655 shares of the financial services provider’s stock valued at $1,177,000 after acquiring an additional 31,177 shares in the last quarter. Hedge funds and other institutional investors own 79.54% of the company’s stock.

eHealth Company Profile

eHealth, Inc operates one of the largest online private health insurance exchanges in the United States. The company’s platform enables consumers to compare, select and enroll in individual, family and small-group health insurance plans offered by a broad network of licensed insurance carriers. In addition to Affordable Care Act–compliant offerings, eHealth provides dedicated services for Medicare Advantage, Medicare Supplement and Medicare Part D prescription drug plans, helping seniors navigate the complexities of Medicare coverage.

Through its digital marketplace, eHealth delivers real-time quotes, detailed plan comparisons and enrollment processing.