Astrana Health Shares Fall After GlassHouse Research Publishes Short-Seller Report

MT Newswires Live09-17 22:48

Astrana Health (ASTH) shares fell 2% in Thursday trading after short seller GlassHouse Research published a report alleging that the company's profitability depends on its management's subjective estimates.

GlassHouse said the company's reported growth depends on a "continuous, debt-funded" acquisition pipeline, and that the growth story "nearly disappears" without acquisitions.

GlassHouse criticized the company's acquisition of Prospect Health, claiming the deal "created a spring-loading setup, not a reserve overstatement already proven."

"Even insiders struggled to explain the Prospect deal, and the bench is turning over," the report said.

Astrana Health did not immediately respond to MT Newswires' request for comment.

Price: 36.95, Change: -0.75, Percent Change: -1.99

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