TRxADE HEALTH, Inc. (NASDAQ:MEDS) Sees Significant Drop in Short Interest

TRxADE HEALTH, Inc. (NASDAQ:MEDSGet Rating) was the recipient of a large drop in short interest during the month of April. As of April 30th, there was short interest totalling 61,500 shares, a drop of 54.0% from the April 15th total of 133,600 shares. Based on an average daily trading volume, of 420,000 shares, the short-interest ratio is currently 0.1 days. Currently, 1.9% of the company’s stock are sold short.

A number of large investors have recently modified their holdings of the stock. National Asset Management Inc. raised its position in TRxADE HEALTH by 4.2% in the 3rd quarter. National Asset Management Inc. now owns 277,703 shares of the company’s stock worth $1,368,000 after purchasing an additional 11,203 shares during the period. Ridgewood Investments LLC raised its position in TRxADE HEALTH by 48.2% in the 1st quarter. Ridgewood Investments LLC now owns 140,600 shares of the company’s stock worth $389,000 after purchasing an additional 45,700 shares during the period. Geode Capital Management LLC grew its holdings in TRxADE HEALTH by 105.1% in the 3rd quarter. Geode Capital Management LLC now owns 42,057 shares of the company’s stock worth $208,000 after acquiring an additional 21,547 shares during the last quarter. Citadel Advisors LLC bought a new stake in TRxADE HEALTH in the 4th quarter worth $60,000. Finally, Renaissance Technologies LLC bought a new stake in TRxADE HEALTH in the 4th quarter worth $51,000. Institutional investors own 8.43% of the company’s stock.

A number of research analysts have recently weighed in on the stock. Maxim Group reduced their target price on shares of TRxADE HEALTH from $11.00 to $7.00 in a research report on Tuesday, March 29th. Zacks Investment Research downgraded shares of TRxADE HEALTH from a “hold” rating to a “sell” rating in a research report on Wednesday.

NASDAQ MEDS traded down $0.01 on Friday, hitting $1.24. The stock had a trading volume of 10,854 shares, compared to its average volume of 50,123. TRxADE HEALTH has a 52-week low of $1.16 and a 52-week high of $10.82. The company has a debt-to-equity ratio of 0.12, a quick ratio of 4.66 and a current ratio of 2.25. The company has a market capitalization of $10.14 million, a price-to-earnings ratio of -1.80 and a beta of 1.36. The firm has a 50-day moving average of $1.99 and a 200-day moving average of $2.45.

TRxADE HEALTH (NASDAQ:MEDSGet Rating) last posted its earnings results on Monday, March 28th. The company reported ($0.09) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.12) by $0.03. The business had revenue of $2.39 million for the quarter, compared to analysts’ expectations of $2.03 million. TRxADE HEALTH had a negative net margin of 55.82% and a negative return on equity of 73.00%. As a group, research analysts anticipate that TRxADE HEALTH will post -0.32 earnings per share for the current fiscal year.

About TRxADE HEALTH (Get Rating)

TRxADE HEALTH, Inc operates as a health services IT company in the United States. The company focuses on digitalizing the retail pharmacy experience by optimizing drug procurement, prescription journey, and patient engagement. It operates the TRxADE drug procurement marketplace, which fosters price transparency and serves approximately 11,800 members; and offers patient centric telehealth services under the Bonum Health brand name.

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