Sharecare (NASDAQ:SHCR) Sees Unusually-High Trading Volume – Here’s What Happened

Sharecare, Inc. (NASDAQ:SHCR) shares saw an uptick in trading volume on Tuesday . 2,461,485 shares traded hands during trading, a decline of 2% from the previous session’s volume of 2,513,661 shares.The stock last traded at $1.43 and had previously closed at $1.43.

Analyst Ratings Changes

A number of brokerages recently weighed in on SHCR. Canaccord Genuity Group lowered Sharecare from a “strong-buy” rating to a “hold” rating in a report on Friday, June 21st. Morgan Stanley upped their price objective on Sharecare from $1.00 to $1.43 and gave the stock an “equal weight” rating in a report on Monday, June 24th. Finally, Canaccord Genuity Group reaffirmed a “hold” rating and set a $1.43 price objective (down previously from $2.00) on shares of Sharecare in a report on Friday, June 21st.

Sharecare Price Performance

The stock has a fifty day moving average of $1.40 and a two-hundred day moving average of $1.13. The stock has a market cap of $518.25 million, a price-to-earnings ratio of -3.86 and a beta of 0.51.

Sharecare (NASDAQ:SHCR) last posted its earnings results on Friday, August 9th. The company reported ($0.09) EPS for the quarter, missing analysts’ consensus estimates of ($0.06) by ($0.03). The firm had revenue of $94.27 million for the quarter, compared to analysts’ expectations of $90.16 million. Sharecare had a negative return on equity of 22.81% and a negative net margin of 33.64%. On average, research analysts expect that Sharecare, Inc. will post -0.24 EPS for the current year.

Insiders Place Their Bets

In other Sharecare news, insider Jeffrey T. Arnold sold 177,085 shares of the business’s stock in a transaction on Friday, August 16th. The stock was sold at an average price of $1.38, for a total transaction of $244,377.30. Following the sale, the insider now directly owns 4,790,406 shares in the company, valued at approximately $6,610,760.28. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 29.27% of the stock is owned by company insiders.

Institutional Trading of Sharecare

Several institutional investors and hedge funds have recently made changes to their positions in SHCR. Millennium Management LLC lifted its position in shares of Sharecare by 12,938.8% in the second quarter. Millennium Management LLC now owns 6,092,772 shares of the company’s stock valued at $8,225,000 after acquiring an additional 6,046,044 shares in the last quarter. Private Management Group Inc. lifted its position in shares of Sharecare by 127.4% in the first quarter. Private Management Group Inc. now owns 9,284,572 shares of the company’s stock valued at $7,126,000 after acquiring an additional 5,201,296 shares in the last quarter. Squarepoint Ops LLC lifted its position in shares of Sharecare by 7,841.4% in the second quarter. Squarepoint Ops LLC now owns 2,511,468 shares of the company’s stock valued at $3,390,000 after acquiring an additional 2,479,843 shares in the last quarter. Gabelli Funds LLC purchased a new stake in shares of Sharecare in the second quarter valued at $892,000. Finally, Sagefield Capital LP purchased a new position in Sharecare during the second quarter worth about $814,000. 35.08% of the stock is currently owned by hedge funds and other institutional investors.

About Sharecare

Sharecare, Inc operates as a digital healthcare platform company. Its Sharecare platform connects people, patients, providers, employers, health plans, government organizations, and communities that optimize individual and population-wide well-being. The company offers enterprise solutions based on a software-as-a-service model that allows enterprise clients to message, motivate, and manage their populations, as well as measure their population progress; a suite of data and information-driven solutions; and life sciences solutions, which provides members with personalized information, programs, and resources to improve their health and well-being.