Divisadero Street Capital Management LP Lowers Stake in OptimizeRx Co. (NASDAQ:OPRX)

Divisadero Street Capital Management LP lessened its stake in OptimizeRx Co. (NASDAQ:OPRX) by 16.3% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 1,315,913 shares of the company’s stock after selling 256,987 shares during the period. OptimizeRx accounts for about 2.0% of Divisadero Street Capital Management LP’s portfolio, making the stock its 13th largest position. Divisadero Street Capital Management LP owned 7.20% of OptimizeRx worth $13,159,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Millrace Asset Group Inc. purchased a new position in shares of OptimizeRx during the fourth quarter worth approximately $1,917,000. G2 Investment Partners Management LLC raised its position in OptimizeRx by 26.0% during the 4th quarter. G2 Investment Partners Management LLC now owns 468,120 shares of the company’s stock valued at $6,699,000 after purchasing an additional 96,646 shares in the last quarter. Rice Hall James & Associates LLC raised its position in OptimizeRx by 23.5% during the 2nd quarter. Rice Hall James & Associates LLC now owns 496,135 shares of the company’s stock valued at $4,961,000 after purchasing an additional 94,253 shares in the last quarter. Essex Investment Management Co. LLC purchased a new stake in shares of OptimizeRx in the 1st quarter worth $1,053,000. Finally, Renaissance Technologies LLC grew its position in shares of OptimizeRx by 101.8% during the 2nd quarter. Renaissance Technologies LLC now owns 142,146 shares of the company’s stock worth $1,421,000 after buying an additional 71,700 shares in the last quarter. Institutional investors own 76.47% of the company’s stock.

OptimizeRx Stock Performance

OPRX stock opened at $7.86 on Friday. OptimizeRx Co. has a one year low of $6.92 and a one year high of $16.65. The firm has a market cap of $143.60 million, a price-to-earnings ratio of -7.71 and a beta of 1.27. The company has a debt-to-equity ratio of 0.27, a quick ratio of 3.07 and a current ratio of 3.07. The firm has a 50-day simple moving average of $8.91 and a two-hundred day simple moving average of $10.56.

OptimizeRx (NASDAQ:OPRX) last announced its earnings results on Thursday, August 8th. The company reported ($0.14) earnings per share for the quarter, beating the consensus estimate of ($0.25) by $0.11. OptimizeRx had a negative net margin of 21.53% and a negative return on equity of 5.97%. The company had revenue of $18.81 million during the quarter, compared to the consensus estimate of $20.47 million. On average, equities analysts forecast that OptimizeRx Co. will post -0.33 EPS for the current fiscal year.

Analysts Set New Price Targets

Several research firms recently weighed in on OPRX. Barclays decreased their price objective on OptimizeRx from $15.00 to $11.00 and set an “equal weight” rating for the company in a report on Monday, August 12th. Royal Bank of Canada lowered their price target on shares of OptimizeRx from $17.00 to $14.00 and set an “outperform” rating for the company in a research report on Friday, August 16th. B. Riley initiated coverage on shares of OptimizeRx in a research note on Thursday, July 25th. They set a “buy” rating and a $18.50 price objective on the stock. Finally, JMP Securities reissued a “market outperform” rating and issued a $16.00 price objective on shares of OptimizeRx in a research note on Friday, June 21st. One equities research analyst has rated the stock with a hold rating and four have given a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $14.50.

About OptimizeRx

OptimizeRx Corporation, a digital health technology company, enables care-focused engagement between life sciences organizations, healthcare providers, and patients at critical junctures throughout the patient care journey. It offers various tech-enabled marketing solutions through its Artificial Intelligence-generated Dynamic Audience and Activation Platform, which enables customers to execute traditional marketing campaigns on its proprietary digital point-of-care network, as well as dynamic marketing campaigns that optimize audiences in real time to increase the value of treatment information for healthcare professionals and patients in response to clinical care events.