ProPhase Labs, Inc. (NASDAQ:PRPH) Sees Significant Decrease in Short Interest


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ProPhase Labs, Inc. (NASDAQ:PRPH) was the target of a large decrease in short interest in April. As of April 15th, there was short interest totalling 132,100 shares, a decrease of 24.2% from the March 31st total of 174,300 shares. Approximately 1.1% of the shares of the stock are short sold. Based on an average trading volume of 321,900 shares, the days-to-cover ratio is currently 0.4 days.

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Renaissance Technologies LLC lifted its holdings in ProPhase Labs by 25.3% in the 4th quarter. Renaissance Technologies LLC now owns 275,010 shares of the company’s stock valued at $2,525,000 after purchasing an additional 55,500 shares in the last quarter. Wedge Capital Management L L P NC acquired a new stake in shares of ProPhase Labs in the first quarter valued at about $880,000. FNY Investment Advisers LLC acquired a new stake in shares of ProPhase Labs in the first quarter valued at about $439,000. Northern Trust Corp lifted its stake in shares of ProPhase Labs by 14.5% in the fourth quarter. Northern Trust Corp now owns 46,476 shares of the company’s stock worth $426,000 after buying an additional 5,870 shares in the last quarter. Finally, Zeke Capital Advisors LLC acquired a new position in ProPhase Labs during the first quarter worth about $259,000. 3.92% of the stock is owned by hedge funds and other institutional investors.

Shares of PRPH traded down $0.21 during mid-day trading on Tuesday, hitting $5.17. 26,756 shares of the company were exchanged, compared to its average volume of 307,466. ProPhase Labs has a 1-year low of $1.20 and a 1-year high of $16.04. The company has a 50 day moving average of $6.07 and a 200-day moving average of $8.78. The company has a quick ratio of 7.35, a current ratio of 8.35 and a debt-to-equity ratio of 0.93.

ProPhase Labs (NASDAQ:PRPH) last announced its earnings results on Tuesday, March 30th. The company reported ($0.23) EPS for the quarter, missing analysts’ consensus estimates of ($0.02) by ($0.21). ProPhase Labs had a negative net margin of 12.92% and a negative return on equity of 15.95%.

Several equities analysts recently weighed in on PRPH shares. Zacks Investment Research upgraded ProPhase Labs from a “hold” rating to a “buy” rating and set a $6.00 price target for the company in a research note on Tuesday. Dawson James assumed coverage on ProPhase Labs in a research report on Wednesday, January 20th. They issued a “buy” rating and a $25.00 price objective for the company. Finally, TheStreet lowered ProPhase Labs from a “c-” rating to a “d” rating in a research report on Friday, April 16th.

About ProPhase Labs

ProPhase Labs, Inc engages in the research, development, manufacture, distribution, marketing, and sale of over-the-counter (OTC) consumer healthcare products and dietary supplements in the United States. It offers a range of OTC dietary supplements, including Legendz XL for sexual health; Triple Edge XL, an energy booster and testosterone support product; and Super ProstaFlow+ a supplement to support prostate and urinary health under the TK Supplements brand.

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