Short Interest in Health Catalyst, Inc. (NASDAQ:HCAT) Grows By 7.3%

Health Catalyst, Inc. (NASDAQ:HCAT) was the target of a significant increase in short interest during the month of September. As of September 15th, there was short interest totalling 2,340,000 shares, an increase of 7.3% from the August 31st total of 2,180,000 shares. Based on an average daily trading volume, of 547,200 shares, the short-interest ratio is currently 4.3 days.

Health Catalyst Price Performance

Shares of NASDAQ HCAT opened at $8.05 on Wednesday. The firm’s 50-day moving average is $7.43 and its two-hundred day moving average is $6.89. The company has a market capitalization of $475.23 million, a PE ratio of -4.35 and a beta of 1.31. Health Catalyst has a 12-month low of $5.42 and a 12-month high of $11.41.

Health Catalyst (NASDAQ:HCAT) last released its earnings results on Wednesday, August 7th. The company reported $0.12 earnings per share for the quarter, topping the consensus estimate of $0.08 by $0.04. Health Catalyst had a negative return on equity of 9.38% and a negative net margin of 28.87%. The firm had revenue of $75.90 million for the quarter, compared to the consensus estimate of $74.96 million. During the same period in the prior year, the business posted ($0.21) earnings per share. The firm’s revenue for the quarter was up 3.7% compared to the same quarter last year. On average, analysts forecast that Health Catalyst will post -0.35 EPS for the current fiscal year.

Insider Buying and Selling at Health Catalyst

In related news, COO Daniel Lesueur sold 5,209 shares of the company’s stock in a transaction on Monday, August 5th. The shares were sold at an average price of $6.19, for a total transaction of $32,243.71. Following the completion of the transaction, the chief operating officer now owns 150,006 shares in the company, valued at $928,537.14. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. In other news, insider Kevin Lee Freeman sold 7,500 shares of the business’s stock in a transaction on Tuesday, September 3rd. The shares were sold at an average price of $7.22, for a total transaction of $54,150.00. Following the completion of the sale, the insider now directly owns 255,881 shares of the company’s stock, valued at $1,847,460.82. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, COO Daniel Lesueur sold 5,209 shares of the firm’s stock in a transaction on Monday, August 5th. The stock was sold at an average price of $6.19, for a total value of $32,243.71. Following the transaction, the chief operating officer now owns 150,006 shares in the company, valued at $928,537.14. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 30,153 shares of company stock valued at $216,004. Insiders own 2.70% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in HCAT. Nisa Investment Advisors LLC grew its position in shares of Health Catalyst by 461.0% during the second quarter. Nisa Investment Advisors LLC now owns 6,367 shares of the company’s stock worth $41,000 after buying an additional 5,232 shares in the last quarter. Quarry LP increased its position in Health Catalyst by 59.4% in the second quarter. Quarry LP now owns 7,002 shares of the company’s stock worth $45,000 after buying an additional 2,610 shares during the period. Perfromance Wealth Partners LLC bought a new stake in Health Catalyst in the 2nd quarter valued at about $64,000. Mackenzie Financial Corp bought a new stake in shares of Health Catalyst during the second quarter valued at approximately $70,000. Finally, EntryPoint Capital LLC acquired a new position in shares of Health Catalyst during the first quarter valued at $98,000. 85.00% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities analysts have issued reports on HCAT shares. JPMorgan Chase & Co. lifted their price target on shares of Health Catalyst from $10.00 to $13.00 and gave the stock an “overweight” rating in a report on Wednesday, September 4th. Piper Sandler reduced their price objective on Health Catalyst from $14.00 to $11.00 and set an “overweight” rating for the company in a research note on Monday, August 26th. Cantor Fitzgerald reiterated an “overweight” rating and issued a $16.00 target price on shares of Health Catalyst in a research note on Friday, September 20th. Evercore ISI cut their price objective on Health Catalyst from $9.00 to $8.00 and set an “outperform” rating for the company in a research report on Tuesday, July 9th. Finally, Stephens cut their target price on shares of Health Catalyst from $8.00 to $7.00 and set an “equal weight” rating for the company in a research note on Thursday, August 8th. Four analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $11.42.

About Health Catalyst

Health Catalyst, Inc provides data and analytics technology and services to healthcare organizations in the United States. It operates in two segments, Technology and Professional Services. The company provides data operating system data platform which provides clients single comprehensive environment to integrate and organize data from their disparate software systems; and analytics applications, a software analytics applications build for data platform to analyze clients face across clinical and quality, population health, and financial and operational use cases.