Sharecare, Inc. (NASDAQ:SHCR) Short Interest Up 71.9% in April

Sharecare, Inc. (NASDAQ:SHCR) was the target of a large growth in short interest in April. As of April 15th, there was short interest totalling 11,790,000 shares, a growth of 71.9% from the March 31st total of 6,860,000 shares. Based on an average daily volume of 1,840,000 shares, the days-to-cover ratio is currently 6.4 days. Approximately 4.2% of the company’s stock are sold short.

Wall Street Analyst Weigh In

A number of brokerages have recently weighed in on SHCR. Morgan Stanley reduced their price objective on shares of Sharecare from $1.50 to $1.00 and set an “equal weight” rating on the stock in a report on Monday, April 15th. BTIG Research downgraded shares of Sharecare from a “buy” rating to a “neutral” rating in a research report on Monday, April 1st.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of the stock. Pennsylvania Capital Management Inc. ADV purchased a new position in Sharecare during the 3rd quarter worth $6,252,000. Private Management Group Inc. acquired a new stake in shares of Sharecare in the 4th quarter worth $4,410,000. WealthPlan Investment Management LLC lifted its stake in shares of Sharecare by 1,307,971.1% in the 3rd quarter. WealthPlan Investment Management LLC now owns 1,177,264 shares of the company’s stock worth $1,107,000 after acquiring an additional 1,177,174 shares during the period. GSA Capital Partners LLP acquired a new stake in shares of Sharecare in the 3rd quarter worth $865,000. Finally, Public Employees Retirement System of Ohio acquired a new stake in shares of Sharecare in the 4th quarter worth $76,000. 35.08% of the stock is owned by hedge funds and other institutional investors.

Sharecare Trading Up 9.0 %

Shares of NASDAQ SHCR traded up $0.07 during mid-day trading on Friday, reaching $0.81. The company had a trading volume of 1,552,400 shares, compared to its average volume of 2,999,688. The firm has a 50 day simple moving average of $0.85 and a two-hundred day simple moving average of $0.98. Sharecare has a 52-week low of $0.48 and a 52-week high of $1.80.

Sharecare (NASDAQ:SHCR) last posted its earnings results on Thursday, March 28th. The company reported ($0.06) EPS for the quarter, missing analysts’ consensus estimates of ($0.04) by ($0.02). The company had revenue of $105.28 million during the quarter, compared to analysts’ expectations of $113.88 million. Sharecare had a negative net margin of 28.86% and a negative return on equity of 17.11%. On average, sell-side analysts expect that Sharecare will post -0.21 earnings per share for the current fiscal year.

About Sharecare

Sharecare, Inc operates as a digital healthcare platform company. Its Sharecare platform connects people, patients, providers, employers, health plans, government organizations, and communities that optimize individual and population-wide well-being. The company offers enterprise solutions based on a software-as-a-service model that allows enterprise clients to message, motivate, and manage their populations, as well as measure their population progress; a suite of data and information-driven solutions; and life sciences solutions, which provides members with personalized information, programs, and resources to improve their health and well-being.