Community Health Systems, Inc. (NYSE:CYH) Sees Significant Increase in Short Interest

Community Health Systems, Inc. (NYSE:CYH) saw a large increase in short interest in the month of November. As of November 30th, there was short interest totalling 8,030,000 shares, an increase of 8.7% from the November 15th total of 7,390,000 shares. Currently, 6.8% of the company’s shares are short sold. Based on an average daily trading volume, of 1,920,000 shares, the days-to-cover ratio is currently 4.2 days.

Community Health Systems Stock Performance

CYH traded down $0.09 during midday trading on Tuesday, hitting $3.24. The stock had a trading volume of 329,984 shares, compared to its average volume of 1,932,496. The company has a market cap of $450.19 million, a P/E ratio of -1.10 and a beta of 1.55. The business has a fifty day moving average of $4.27 and a 200 day moving average of $4.49. Community Health Systems has a 1 year low of $2.51 and a 1 year high of $6.29.

Community Health Systems (NYSE:CYH) last announced its quarterly earnings data on Wednesday, October 23rd. The company reported ($0.30) earnings per share for the quarter, missing the consensus estimate of ($0.16) by ($0.14). The business had revenue of $3.09 billion during the quarter, compared to analysts’ expectations of $3.08 billion. The business’s revenue was up .1% on a year-over-year basis. During the same period in the prior year, the firm earned ($0.33) EPS. On average, equities research analysts anticipate that Community Health Systems will post -0.56 earnings per share for the current year.

Wall Street Analyst Weigh In

Several analysts recently issued reports on the stock. Wells Fargo & Company downgraded shares of Community Health Systems from an “equal weight” rating to an “underweight” rating and reduced their price target for the company from $5.00 to $2.50 in a research report on Monday, November 25th. StockNews.com downgraded shares of Community Health Systems from a “hold” rating to a “sell” rating in a research report on Monday, November 25th. Truist Financial reduced their price target on shares of Community Health Systems from $5.50 to $5.00 and set a “hold” rating for the company in a research report on Friday, October 25th. Barclays lifted their price target on shares of Community Health Systems from $3.00 to $5.00 and gave the company an “equal weight” rating in a research report on Thursday, October 24th. Finally, Raymond James downgraded shares of Community Health Systems from a “market perform” rating to an “underperform” rating in a report on Friday, November 22nd. Three research analysts have rated the stock with a sell rating, three have issued a hold rating and two have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $4.77.

Hedge Funds Weigh In On Community Health Systems

A number of institutional investors have recently added to or reduced their stakes in the company. Franklin Resources Inc. raised its holdings in Community Health Systems by 4.1% in the third quarter. Franklin Resources Inc. now owns 75,520 shares of the company’s stock worth $422,000 after purchasing an additional 2,989 shares in the last quarter. Barclays PLC grew its stake in shares of Community Health Systems by 1,278.2% in the third quarter. Barclays PLC now owns 707,805 shares of the company’s stock worth $4,296,000 after acquiring an additional 656,447 shares during the last quarter. Y Intercept Hong Kong Ltd purchased a new stake in shares of Community Health Systems in the third quarter worth $500,000. Algert Global LLC grew its stake in shares of Community Health Systems by 39.5% in the third quarter. Algert Global LLC now owns 158,587 shares of the company’s stock worth $963,000 after acquiring an additional 44,944 shares during the last quarter. Finally, Intech Investment Management LLC purchased a new stake in shares of Community Health Systems during the third quarter valued at $207,000. Institutional investors own 84.99% of the company’s stock.

About Community Health Systems

Community Health Systems, Inc owns, leases, and operates general acute care hospitals in the United States. It offers general acute care, emergency room, general and specialty surgery, critical care, internal medicine, obstetrics, diagnostic, psychiatric, and rehabilitation services, as well as skilled nursing and home care services.