Short Interest in Cano Health, Inc. (NYSE:CANO) Expands By 7.2%

Cano Health, Inc. (NYSE:CANO – Get Rating) was the target of a significant increase in short interest during the month of February. As of February 28th, there was short interest totalling 28,030,000 shares, an increase of 7.2% from the February 13th total of 26,140,000 shares. Approximately 15.8% of the shares of the company are sold short. Based on an average daily volume of 9,040,000 shares, the short-interest ratio is currently 3.1 days.

Institutional Investors Weigh In On Cano Health

A number of hedge funds and other institutional investors have recently bought and sold shares of CANO. Raymond James & Associates grew its position in shares of Cano Health by 12.1% in the first quarter. Raymond James & Associates now owns 125,611 shares of the company’s stock valued at $798,000 after purchasing an additional 13,593 shares in the last quarter. Raymond James Financial Services Advisors Inc. lifted its holdings in shares of Cano Health by 18.6% in the first quarter. Raymond James Financial Services Advisors Inc. now owns 169,145 shares of the company’s stock worth $1,074,000 after buying an additional 26,550 shares in the last quarter. Bank of New York Mellon Corp increased its holdings in Cano Health by 19.2% during the 1st quarter. Bank of New York Mellon Corp now owns 78,241 shares of the company’s stock worth $497,000 after acquiring an additional 12,578 shares during the period. HighTower Advisors LLC bought a new position in Cano Health in the 1st quarter valued at $129,000. Finally, Allianz Asset Management GmbH purchased a new position in shares of Cano Health during the 1st quarter valued at $2,268,000. Institutional investors own 25.56% of the company’s stock.

Cano Health Stock Performance

Shares of CANO stock traded down $0.07 during trading on Friday, reaching $1.10. 2,687,728 shares of the company’s stock traded hands, compared to its average volume of 8,772,491. The firm’s 50-day moving average is $1.44 and its 200 day moving average is $3.26. The company has a market capitalization of $541.46 million, a P/E ratio of -1.29 and a beta of 0.08. Cano Health has a 1 year low of $0.98 and a 1 year high of $9.75. The company has a current ratio of 1.64, a quick ratio of 1.64 and a debt-to-equity ratio of 1.17.

Wall Street Analyst Weigh In

Several equities research analysts have recently issued reports on the company. UBS Group lowered Cano Health from a “buy” rating to a “neutral” rating and decreased their target price for the company from $12.00 to $1.25 in a research report on Friday, January 6th. Credit Suisse Group decreased their price objective on shares of Cano Health to $4.00 in a report on Monday, November 28th. Wolfe Research cut shares of Cano Health from an “outperform” rating to a “peer perform” rating in a research note on Thursday, January 5th. Finally, Bank of America restated an “underperform” rating and set a $1.50 price target on shares of Cano Health in a research note on Tuesday, December 13th. Two investment analysts have rated the stock with a sell rating, seven have issued a hold rating and one has given a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $4.08.

Cano Health Company Profile

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Cano Health, Inc provides primary care medical services to its members in the United States and Puerto Rico. It owns and operates medical centers enabled by CanoPanorama, a proprietary population health management technology-powered platform that provides the healthcare providers at its medical centers with a 360-degree view of their members with actionable insights to improve care decisions and member engagement.