Short Interest in Phreesia, Inc. (NYSE:PHR) Drops By 14.7%

Phreesia, Inc. (NYSE:PHR) was the recipient of a significant drop in short interest during the month of December. As of December 15th, there was short interest totalling 2,730,000 shares, a drop of 14.7% from the November 30th total of 3,200,000 shares. Based on an average daily trading volume, of 406,000 shares, the days-to-cover ratio is currently 6.7 days.

Analysts Set New Price Targets

PHR has been the subject of several analyst reports. Needham & Company LLC reaffirmed a “buy” rating and set a $29.00 target price on shares of Phreesia in a report on Tuesday, December 10th. Canaccord Genuity Group reiterated a “buy” rating and issued a $34.00 target price on shares of Phreesia in a research note on Thursday, September 5th. Royal Bank of Canada restated a “sector perform” rating and set a $23.00 price target on shares of Phreesia in a research report on Friday, September 27th. DA Davidson reiterated a “buy” rating and issued a $32.00 price objective on shares of Phreesia in a research report on Thursday, September 5th. Finally, Robert W. Baird dropped their price objective on Phreesia from $34.00 to $30.00 and set an “outperform” rating for the company in a research note on Wednesday, December 11th. One research analyst has rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. Based on data from MarketBeat, Phreesia presently has a consensus rating of “Moderate Buy” and a consensus price target of $29.33.

Phreesia Price Performance

Shares of NYSE PHR traded down $0.72 during trading hours on Tuesday, reaching $25.01. 84,480 shares of the stock traded hands, compared to its average volume of 446,422. The company has a market capitalization of $1.45 billion, a P/E ratio of -17.01 and a beta of 0.98. The company has a quick ratio of 1.77, a current ratio of 1.74 and a debt-to-equity ratio of 0.04. Phreesia has a 52-week low of $17.07 and a 52-week high of $29.16. The company’s 50-day simple moving average is $21.30 and its two-hundred day simple moving average is $22.19.

Phreesia (NYSE:PHR) last posted its quarterly earnings results on Monday, December 9th. The company reported ($0.25) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.29) by $0.04. The business had revenue of $106.80 million during the quarter, compared to analyst estimates of $106.33 million. Phreesia had a negative net margin of 20.43% and a negative return on equity of 32.78%. The company’s revenue was up 16.6% on a year-over-year basis. During the same period in the prior year, the business posted ($0.58) earnings per share. Equities research analysts forecast that Phreesia will post -1.16 EPS for the current year.

Insider Activity

In other Phreesia news, CEO Chaim Indig sold 3,089 shares of Phreesia stock in a transaction on Tuesday, October 15th. The shares were sold at an average price of $21.03, for a total transaction of $64,961.67. Following the transaction, the chief executive officer now directly owns 1,220,647 shares of the company’s stock, valued at $25,670,206.41. The trade was a 0.25 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Yvonne Hui sold 2,791 shares of the stock in a transaction dated Tuesday, October 15th. The shares were sold at an average price of $20.92, for a total transaction of $58,387.72. Following the completion of the sale, the insider now owns 27,228 shares of the company’s stock, valued at approximately $569,609.76. This represents a 9.30 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 90,342 shares of company stock worth $2,041,225 over the last three months. 5.80% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Phreesia

Large investors have recently bought and sold shares of the stock. Versor Investments LP purchased a new stake in shares of Phreesia during the third quarter worth about $694,000. Zacks Investment Management purchased a new stake in Phreesia in the 3rd quarter worth approximately $631,000. Sei Investments Co. grew its position in shares of Phreesia by 135.3% in the 2nd quarter. Sei Investments Co. now owns 165,327 shares of the company’s stock worth $3,505,000 after buying an additional 95,058 shares during the last quarter. State Street Corp boosted its holdings in Phreesia by 7.1% in the third quarter. State Street Corp now owns 1,327,586 shares of the company’s stock valued at $30,256,000 after acquiring an additional 88,517 shares in the last quarter. Finally, Barclays PLC raised its holdings in Phreesia by 83.6% in the 3rd quarter. Barclays PLC now owns 94,929 shares of the company’s stock worth $2,163,000 after purchasing an additional 43,225 shares in the last quarter. 92.10% of the stock is owned by hedge funds and other institutional investors.

Phreesia Company Profile

Phreesia, Inc provides an integrated SaaS-based software and payment platform for the healthcare industry in the United States and Canada. The company offers access solutions that offers appointment scheduling system for online appointments, reminders, and referral tracking management; registration solution to automate patient self-registration; revenue cycle solution, which offer insurance-verification processes, point-of-sale payments applications, post-visit payment collection, and flexible payment options; and network connect solution to deliver clinically relevant content to patients.