Ontrak (NASDAQ:OTRK) Shares Set to Reverse Split on Monday, September 23rd

Ontrak, Inc. (NASDAQ:OTRK) shares are going to reverse split before the market opens on Monday, September 23rd. The 1-15 reverse split was announced on Thursday, September 19th. The number of shares owned by shareholders will be adjusted after the market closes on Friday, September 20th.

Ontrak Stock Performance

NASDAQ OTRK opened at $0.21 on Friday. The company has a debt-to-equity ratio of 0.43, a current ratio of 3.64 and a quick ratio of 3.64. Ontrak has a 1-year low of $0.14 and a 1-year high of $1.42. The business has a 50 day simple moving average of $0.23 and a two-hundred day simple moving average of $0.26. The stock has a market capitalization of $10.03 million, a PE ratio of -0.05 and a beta of 2.58.

Ontrak (NASDAQ:OTRK) last posted its earnings results on Thursday, August 8th. The company reported ($0.19) EPS for the quarter, missing analysts’ consensus estimates of ($0.10) by ($0.09). Ontrak had a negative net margin of 222.54% and a negative return on equity of 238.43%. The firm had revenue of $2.45 million for the quarter, compared to the consensus estimate of $2.60 million. During the same quarter in the prior year, the company posted ($1.84) earnings per share. On average, research analysts predict that Ontrak will post -0.49 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Separately, Roth Mkm reduced their price objective on Ontrak from $4.00 to $3.00 and set a “buy” rating on the stock in a research note on Friday, August 9th.

Institutional Trading of Ontrak

A hedge fund recently bought a new stake in Ontrak stock. Armistice Capital LLC acquired a new stake in shares of Ontrak, Inc. (NASDAQ:OTRK) in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund acquired 2,886,000 shares of the company’s stock, valued at approximately $1,157,000. Armistice Capital LLC owned 10.47% of Ontrak as of its most recent SEC filing. 12.95% of the stock is owned by hedge funds and other institutional investors.

About Ontrak

Ontrak, Inc operates as an artificial intelligence powered, telehealth-enabled, and virtualized healthcare company that provides in-person services to third-party payors in the United States. Its technology-enabled platform predicts people whose chronic disease will improve with behavior change, recommends effective care pathways that people are willing to follow, and engages and guides them to and through the care they need.