OptimizeRx Co. (NASDAQ:OPRX) Short Interest Up 22.0% in March

OptimizeRx Co. (NASDAQ:OPRX) was the recipient of a large increase in short interest in the month of March. As of March 15th, there was short interest totalling 1,720,000 shares, an increase of 22.0% from the February 28th total of 1,410,000 shares. Based on an average daily trading volume, of 502,300 shares, the short-interest ratio is currently 3.4 days. Currently, 11.1% of the company’s stock are short sold.

Insider Buying and Selling

In related news, Director James Paul Lang acquired 321,408 shares of the business’s stock in a transaction dated Friday, March 14th. The shares were acquired at an average price of $7.60 per share, with a total value of $2,442,700.80. Following the completion of the transaction, the director now owns 389,452 shares of the company’s stock, valued at $2,959,835.20. The trade was a 472.35 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 6.10% of the stock is owned by insiders.

Institutional Trading of OptimizeRx

A number of institutional investors and hedge funds have recently made changes to their positions in OPRX. Barclays PLC lifted its position in OptimizeRx by 358.5% during the third quarter. Barclays PLC now owns 26,934 shares of the company’s stock valued at $208,000 after buying an additional 21,060 shares in the last quarter. BNP Paribas Financial Markets lifted its stake in shares of OptimizeRx by 189.2% during the third quarter. BNP Paribas Financial Markets now owns 3,690 shares of the company’s stock worth $28,000 after purchasing an additional 2,414 shares in the last quarter. Royce & Associates LP purchased a new stake in shares of OptimizeRx in the fourth quarter worth about $5,198,000. SG Americas Securities LLC acquired a new stake in shares of OptimizeRx in the fourth quarter valued at about $51,000. Finally, Bullseye Asset Management LLC lifted its position in OptimizeRx by 55.6% during the 3rd quarter. Bullseye Asset Management LLC now owns 214,046 shares of the company’s stock worth $1,652,000 after acquiring an additional 76,458 shares in the last quarter. 76.47% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on OPRX. Lake Street Capital restated a “buy” rating and set a $11.00 target price on shares of OptimizeRx in a research note on Tuesday, December 24th. B. Riley raised OptimizeRx to a “strong-buy” rating in a research report on Wednesday, March 12th. Stephens assumed coverage on OptimizeRx in a report on Friday, December 20th. They issued an “equal weight” rating and a $5.50 price target for the company. Royal Bank of Canada reaffirmed a “sector perform” rating and issued a $6.00 target price (down from $7.00) on shares of OptimizeRx in a research report on Wednesday, January 8th. Finally, JMP Securities restated a “market outperform” rating and set a $8.00 price target on shares of OptimizeRx in a research note on Thursday, February 6th. Three analysts have rated the stock with a hold rating, five have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $9.06.

OptimizeRx Trading Down 5.0 %

Shares of OptimizeRx stock traded down $0.42 during mid-day trading on Thursday, hitting $7.91. 82,240 shares of the stock were exchanged, compared to its average volume of 262,174. OptimizeRx has a twelve month low of $3.78 and a twelve month high of $14.13. The company has a 50-day simple moving average of $6.44 and a 200 day simple moving average of $6.00. The company has a current ratio of 3.23, a quick ratio of 3.23 and a debt-to-equity ratio of 0.29. The stock has a market capitalization of $146.26 million, a price-to-earnings ratio of -5.95 and a beta of 1.31.

OptimizeRx Company Profile

OptimizeRx Corporation, a digital health technology company, enables care-focused engagement between life sciences organizations, healthcare providers, and patients at critical junctures throughout the patient care journey. It offers various tech-enabled marketing solutions through its Artificial Intelligence-generated Dynamic Audience and Activation Platform, which enables customers to execute traditional marketing campaigns on its proprietary digital point-of-care network, as well as dynamic marketing campaigns that optimize audiences in real time to increase the value of treatment information for healthcare professionals and patients in response to clinical care events.