Short Interest in Nutex Health Inc. (NASDAQ:NUTX) Declines By 63.7%

Nutex Health Inc. (NASDAQ:NUTX) saw a significant decline in short interest during the month of October. As of October 31st, there was short interest totalling 35,700 shares, a decline of 63.7% from the October 15th total of 98,300 shares. Based on an average trading volume of 74,100 shares, the short-interest ratio is presently 0.5 days. Approximately 1.2% of the shares of the stock are short sold.

Nutex Health Trading Down 8.4 %

Shares of NASDAQ NUTX traded down $2.63 during midday trading on Friday, reaching $28.70. The stock had a trading volume of 50,183 shares, compared to its average volume of 42,760. The firm has a market cap of $156.13 million, a price-to-earnings ratio of -3.06 and a beta of 0.11. Nutex Health has a twelve month low of $4.16 and a twelve month high of $39.48. The company’s 50 day moving average price is $23.52 and its 200 day moving average price is $14.22. The company has a debt-to-equity ratio of 3.36, a quick ratio of 1.55 and a current ratio of 1.77.

Insider Activity

In related news, CFO Jon Christian Bates acquired 1,350 shares of the company’s stock in a transaction that occurred on Thursday, August 22nd. The stock was acquired at an average price of $21.46 per share, for a total transaction of $28,971.00. Following the completion of the acquisition, the chief financial officer now owns 2,277 shares of the company’s stock, valued at $48,864.42. This trade represents a 145.63 % increase in their position. The purchase was disclosed in a legal filing with the SEC, which is available at the SEC website. 38.52% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Nutex Health

Institutional investors have recently made changes to their positions in the stock. Essex Investment Management Co. LLC bought a new stake in Nutex Health in the 3rd quarter worth about $1,579,000. Thompson Davis & CO. Inc. purchased a new stake in shares of Nutex Health in the 3rd quarter valued at $494,000. State Street Corp purchased a new position in shares of Nutex Health in the third quarter worth $225,000. Finally, International Assets Investment Management LLC purchased a new position in Nutex Health during the 3rd quarter valued at $188,000. Institutional investors and hedge funds own 5.32% of the company’s stock.

Analysts Set New Price Targets

NUTX has been the topic of several research analyst reports. Maxim Group raised their price objective on Nutex Health from $45.00 to $50.00 and gave the stock a “buy” rating in a research note on Tuesday. Benchmark lifted their price objective on Nutex Health from $45.00 to $60.00 and gave the company a “buy” rating in a report on Tuesday.

About Nutex Health

Nutex Health Inc operates as a physician-led, healthcare services, and operations company. It operates through three segments: Hospital, Population Health Management (PHM), and Real Estate. The PHM segment establishes and operates independent physician associations; and offers a cloud-based platform for healthcare organizations to provide value-based care and population health management.