Adcare Health System Sees Significant Growth in Short Interest (ADK)
Adcare Health System (NYSE:ADK) saw a significant growth in short interest in the month of August. As of August 15th, there was short interest totalling 262,950 shares, a growth of 69.5% from the July 31st total of 155,138 shares, Analyst Ratings Net reports. Based on an average trading volume of 149,210 shares, the short-interest ratio is presently 1.8 days. Currently, 1.7% of the company’s shares are short sold.
In other Adcare Health System news, major shareholder Anthony J. Cantone sold 198,123 shares of the company’s stock on the open market in a transaction dated Wednesday, August 20th. The shares were sold at an average price of $4.96, for a total value of $982,690.08. The transaction was disclosed in a document filed with the SEC, which is available at this link. Large shareholders that own at least 10% of a company’s stock are required to disclose their sales and purchases with the SEC.
Separately, analysts at Zacks downgraded shares of Adcare Health System from a “neutral” rating to an “underperform” rating in a research note on Tuesday, July 29th. They now have a $4.40 price target on the stock.
Shares of Adcare Health System (NYSE:ADK) opened at 4.95 on Wednesday. Adcare Health System has a one year low of $3.62 and a one year high of $5.05. The stock’s 50-day moving average is $4.68 and its 200-day moving average is $4.30. The company’s market cap is $85.2 million.
Adcare Health System (NYSE:ADK) last issued its quarterly earnings data on Monday, August 11th. The company reported ($0.11) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.07) by $0.04. Analysts expect that Adcare Health System will post $-0.34 EPS for the current fiscal year.
AdCare Health Systems, Inc (NYSE:ADK) is a developer, owner and manager of retirement communities, assisted living facilities, skilled nursing facilities and home health care services in the state of Ohio.
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