CRH Medical Corp (NYSEAMERICAN:CRHM) Short Interest Down 38.6% in March

CRH Medical Corp (NYSEAMERICAN:CRHM) saw a significant decline in short interest during the month of March. As of March 13th, there was short interest totalling 11,600 shares, a decline of 38.6% from the February 27th total of 18,900 shares. Based on an average daily trading volume, of 61,300 shares, the short-interest ratio is presently 0.2 days. Currently, 0.0% of the company’s shares are short sold.

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Pacific Ridge Capital Partners LLC boosted its position in shares of CRH Medical by 4.6% in the 4th quarter. Pacific Ridge Capital Partners LLC now owns 2,542,811 shares of the company’s stock valued at $8,824,000 after purchasing an additional 111,917 shares during the period. Connor Clark & Lunn Investment Management Ltd. boosted its position in shares of CRH Medical by 1.3% in the 4th quarter. Connor Clark & Lunn Investment Management Ltd. now owns 2,148,535 shares of the company’s stock valued at $7,456,000 after purchasing an additional 27,800 shares during the period. Goldman Sachs Group Inc. boosted its position in shares of CRH Medical by 3.6% in the 4th quarter. Goldman Sachs Group Inc. now owns 1,530,833 shares of the company’s stock valued at $5,312,000 after purchasing an additional 53,511 shares during the period. Renaissance Technologies LLC boosted its position in shares of CRH Medical by 34.5% in the 4th quarter. Renaissance Technologies LLC now owns 922,423 shares of the company’s stock valued at $3,200,000 after purchasing an additional 236,823 shares during the period. Finally, Palladium Partners LLC boosted its position in shares of CRH Medical by 67.8% in the 4th quarter. Palladium Partners LLC now owns 348,900 shares of the company’s stock valued at $1,210,000 after purchasing an additional 141,000 shares during the period.

Shares of CRHM traded down $0.04 during mid-day trading on Thursday, reaching $1.31. The company’s stock had a trading volume of 218,100 shares, compared to its average volume of 119,629. CRH Medical has a 12-month low of $0.86 and a 12-month high of $4.43.

Several brokerages have recently commented on CRHM. Canaccord Genuity decreased their price target on CRH Medical from $5.00 to $4.00 and set a “buy” rating on the stock in a research note on Friday, March 13th. Royal Bank of Canada decreased their price target on CRH Medical from $6.50 to $4.75 and set an “outperform” rating on the stock in a research note on Friday, March 13th. Finally, Zacks Investment Research lowered CRH Medical from a “buy” rating to a “hold” rating in a research note on Monday, January 13th. One research analyst has rated the stock with a hold rating and three have given a buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and a consensus price target of $4.08.

About CRH Medical

CRH Medical Corporation provides various products and services to gastroenterologists in the United States and Canada. It offers CRH O'Regan system, a single use, disposable, and hemorrhoid banding technology for treating various grades of hemorrhoid. The company also offers anesthesia services for patients undergoing endoscopic procedures.

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