Short Interest in OptimizeRx Co. (NASDAQ:OPRX) Rises By 22.0%

OptimizeRx Co. (NASDAQ:OPRX) was the recipient of a large increase in short interest during 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 volume of 502,300 shares, the short-interest ratio is presently 3.4 days. Currently, 11.1% of the company’s stock are sold short.

Analyst Upgrades and Downgrades

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

OptimizeRx Trading Down 5.0 %

OptimizeRx stock traded down $0.42 during mid-day trading on Thursday, hitting $7.91. The company’s stock had a trading volume of 82,240 shares, compared to its average volume of 262,174. OptimizeRx has a 1 year low of $3.78 and a 1 year high of $14.13. The stock’s fifty day moving average is $6.44 and its two-hundred day moving average is $6.00. The firm has a market capitalization of $146.26 million, a PE ratio of -5.95 and a beta of 1.31. The company has a current ratio of 3.23, a quick ratio of 3.23 and a debt-to-equity ratio of 0.29.

Insider Activity

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 purchased at an average price of $7.60 per share, for a total transaction of $2,442,700.80. Following the completion of the acquisition, the director now directly owns 389,452 shares in the company, valued at $2,959,835.20. The trade was a 472.35 % increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 6.10% of the company’s stock.

Institutional Trading of OptimizeRx

Several institutional investors and hedge funds have recently bought and sold shares of OPRX. Delta Investment Management LLC acquired a new stake in shares of OptimizeRx during the fourth quarter valued at about $146,000. Squarepoint Ops LLC boosted its position in shares of OptimizeRx by 298.8% during the 4th quarter. Squarepoint Ops LLC now owns 41,712 shares of the company’s stock worth $203,000 after purchasing an additional 31,252 shares during the period. Tang Capital Management LLC acquired a new stake in OptimizeRx in the 4th quarter valued at approximately $1,075,000. Graham Capital Management L.P. acquired a new position in OptimizeRx during the fourth quarter worth $81,000. Finally, D. E. Shaw & Co. Inc. boosted its position in shares of OptimizeRx by 12.2% during the fourth quarter. D. E. Shaw & Co. Inc. now owns 295,717 shares of the company’s stock worth $1,437,000 after buying an additional 32,062 shares during the period. 76.47% of the stock is currently owned by hedge funds and other institutional investors.

About OptimizeRx

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.