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

OptimizeRx Co. (NASDAQ:OPRX) was the target of a significant 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. Currently, 11.1% of the shares of the stock are short sold. Based on an average daily volume of 502,300 shares, the days-to-cover ratio is currently 3.4 days.

OptimizeRx Stock Down 2.7 %

NASDAQ OPRX traded down $0.22 on Wednesday, reaching $7.96. 73,102 shares of the stock traded hands, compared to its average volume of 261,173. The company has a fifty day moving average price of $6.38 and a 200-day moving average price of $5.98. OptimizeRx has a 12 month low of $3.78 and a 12 month high of $14.13. The company has a market cap of $147.24 million, a price-to-earnings ratio of -6.00 and a beta of 1.31. The company has a debt-to-equity ratio of 0.29, a quick ratio of 3.23 and a current ratio of 3.23.

Insiders Place Their Bets

In other news, Director James Paul Lang bought 321,408 shares of the stock in a transaction that occurred on Friday, March 14th. The shares were bought at an average price of $7.60 per share, for a total transaction of $2,442,700.80. Following the purchase, the director now owns 389,452 shares in the company, valued at $2,959,835.20. This represents a 472.35 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is available through this link. Company insiders own 6.10% of the company’s stock.

Hedge Funds Weigh In On OptimizeRx

A number of large investors have recently bought and sold shares of OPRX. BNP Paribas Financial Markets grew its position in shares of OptimizeRx by 189.2% in the 3rd quarter. BNP Paribas Financial Markets now owns 3,690 shares of the company’s stock worth $28,000 after buying an additional 2,414 shares during the last quarter. SBI Securities Co. Ltd. acquired a new stake in OptimizeRx during the 4th quarter worth about $25,000. SG Americas Securities LLC purchased a new position in OptimizeRx during the fourth quarter valued at approximately $51,000. Wells Fargo & Company MN boosted its holdings in OptimizeRx by 33.3% during the fourth quarter. Wells Fargo & Company MN now owns 11,208 shares of the company’s stock worth $54,000 after buying an additional 2,797 shares in the last quarter. Finally, Graham Capital Management L.P. purchased a new position in shares of OptimizeRx in the 4th quarter valued at about $81,000. Institutional investors own 76.47% of the company’s stock.

Analysts Set New Price Targets

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

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.