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HealthEquity, Inc. (NASDAQ:HQY) Sees Significant Decline in Short Interest

Defense World · Sep 20, 2022 04:51

HealthEquity, Inc. (NASDAQ:HQY – Get Rating) was the target of a large decrease in short interest during the month of August. As of August 31st, there was short interest totalling 3,620,000 shares, a decrease of 7.7% from the August 15th total of 3,920,000 shares. Based on an average trading volume of 765,800 shares, the days-to-cover ratio is currently 4.7 days. Approximately 4.4% of the company's stock are sold short.

HealthEquity Trading Up 0.7 %

HealthEquity stock opened at $71.88 on Tuesday. HealthEquity has a twelve month low of $36.81 and a twelve month high of $73.29. The stock has a 50 day moving average of $62.21 and a two-hundred day moving average of $62.51. The stock has a market capitalization of $6.08 billion, a price-to-earnings ratio of -97.14, a PEG ratio of 4.25 and a beta of 0.90.

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HealthEquity (NASDAQ:HQY – Get Rating) last posted its quarterly earnings data on Tuesday, September 6th. The company reported $0.33 earnings per share for the quarter, hitting analysts' consensus estimates of $0.33. HealthEquity had a positive return on equity of 2.86% and a negative net margin of 7.82%. During the same quarter in the previous year, the business posted $0.21 earnings per share. Equities analysts predict that HealthEquity will post 0.69 earnings per share for the current year.

Insider Activity

In other news, COO Edward Bloomberg sold 1,000 shares of the stock in a transaction dated Monday, August 1st. The stock was sold at an average price of $57.63, for a total value of $57,630.00. Following the transaction, the chief operating officer now owns 59,850 shares in the company, valued at approximately $3,449,155.50. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Company insiders own 2.80% of the company's stock.

Institutional Trading of HealthEquity

Hedge funds have recently modified their holdings of the business. Private Trust Co. NA acquired a new stake in shares of HealthEquity in the 2nd quarter valued at approximately $28,000. Assetmark Inc. lifted its holdings in shares of HealthEquity by 387.1% in the 2nd quarter. Assetmark Inc. now owns 755 shares of the company's stock valued at $46,000 after buying an additional 600 shares during the period. Signaturefd LLC lifted its holdings in shares of HealthEquity by 44.3% in the 1st quarter. Signaturefd LLC now owns 954 shares of the company's stock valued at $64,000 after buying an additional 293 shares during the period. Clearstead Advisors LLC acquired a new stake in shares of HealthEquity in the 1st quarter valued at approximately $65,000. Finally, Eagle Bay Advisors LLC lifted its holdings in shares of HealthEquity by 137.8% in the 2nd quarter. Eagle Bay Advisors LLC now owns 1,108 shares of the company's stock valued at $68,000 after buying an additional 642 shares during the period. 99.43% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on the company. SVB Leerink increased their price objective on HealthEquity from $67.00 to $76.00 and gave the company an "outperform" rating in a report on Tuesday, June 7th. The Goldman Sachs Group assumed coverage on HealthEquity in a research note on Tuesday, July 12th. They set a "sell" rating and a $59.00 price target on the stock. Wells Fargo & Company raised their price target on HealthEquity from $95.00 to $100.00 and gave the stock an "overweight" rating in a research note on Tuesday, September 13th. Barrington Research raised their price target on HealthEquity from $70.00 to $75.00 in a research note on Tuesday, June 7th. Finally, Robert W. Baird raised their price target on HealthEquity from $47.00 to $67.00 and gave the stock a "neutral" rating in a research note on Wednesday, September 7th. Two equities research analysts have rated the stock with a sell rating, one has issued a hold rating and eleven have issued a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average price target of $75.36.

About HealthEquity

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HealthEquity, Inc provides technology-enabled services platforms to consumers and employers in the United States. The company offers cloud-based platforms for individuals to make health saving and spending decisions, pay healthcare bills, compare treatment options and prices, receive personalized benefit and clinical information, earn wellness incentives, grow their savings, and make investment choices; and health savings accounts.