Enhanced Group (NYSE:ENHA) Stock Short Interest Rises 64.6%

Enhanced Group (NYSE:ENHA) was the recipient of a significant growth in short interest in the month of September. As of September 30th, there was short interest totaling 2,922,431 shares, a growth of 64.6% from the September 15th total of 1,774,938 shares. Based on an average daily trading volume, of 870,232 shares, the days-to-cover ratio is presently 3.4 days. Currently, 3.8% of the company’s shares are short sold.

Enhanced Group Stock Performance

Shares of ENHA traded down $0.04 during trading hours on Friday, hitting $1.23. The stock had a trading volume of 514,164 shares, compared to its average volume of 799,008. The company has a market capitalization of $475.07 million, a price-to-earnings ratio of -2.78 and a beta of -1.70. The stock has a fifty day simple moving average of $1.57. Enhanced Group has a 12-month low of $1.06 and a 12-month high of $14.00.

Shares of Enhanced Group are going to reverse split on Wednesday, October 28th. The 1-10 reverse split was announced on Monday, September 28th. The number of shares owned by shareholders will be adjusted after the market closes on Tuesday, October 27th.

Analyst Ratings Changes

ENHA has been the topic of a number of research analyst reports. Cantor Fitzgerald assumed coverage on Enhanced Group in a research note on Wednesday, September 23rd. They issued an “overweight” rating and a $4.00 price target on the stock. Weiss Ratings raised shares of Enhanced Group from a “sell (e)” rating to a “sell (e+)” rating in a research note on Friday, September 25th. Wall Street Zen lowered shares of Enhanced Group to a “strong sell” rating in a report on Saturday, August 1st. Finally, Canaccord Genuity Group cut their price objective on shares of Enhanced Group from $6.00 to $5.00 and set a “buy” rating on the stock in a report on Monday, August 17th. Two investment analysts have rated the stock with a Buy rating and one has issued a Sell rating to the stock. According to data from MarketBeat, Enhanced Group presently has a consensus rating of “Hold” and a consensus price target of $4.50.

About Enhanced Group

We are a blank check company incorporated in the British Virgin Islands as a business company with limited liability and formed for the purpose of effecting a merger, amalgamation, share exchange, asset acquisition, share purchase, reorganization or similar business combination with one or more businesses, which we refer to throughout this prospectus as our initial business combination. We have not selected any business combination target and we have not, nor has anyone on our behalf, initiated any substantive discussions, directly or indirectly, with any business combination target.