A hedge fund manager, Will Meade believes that the stocks of Allied Healthcare (NASDAQ:AHPI) are set to increase and reach the $10 mark. Consequently, the stock has seen an impressive rise in its’ gains on Friday.
The company- Allied Healthcare- is in the business of manufacturing oxygen cylinders and respiratory products. Thanks to the Covid-19 pandemic, the company is at a prime spot for growth. Further, the stock has attracted plenty of short-interest, making it one of the most shorted stocks during Covid. While S3 has 41.5% of short interest on the AHPI stock, Marketwatch has a short interest of 53%.
Other short-term investors are in agreement with Meade’s view as proven by the high volume of tradings of the concerned stock taking place today. The trading volume saw a massive jump from its average trading volume- that is of 5 million shares. The AHPI stock had over 39 million shares being traded in a short span of time today alone.
The AHPI stock opened today with a 49.6% increase. The stock has seen a rise of 71.2% since the beginning of this year. This makes the stock a sweet buy- especially for short-term interest.