Cantor Fitzgerald analyst Steven Halper said he views the weakness in Health Insurance Innovations following a short report issued on the stock as "mostly unfounded." One of the central focuses of the report is the ongoing 42-state investigation into operating practices that was previously disclosed and he sees the claim of a potential $100M in penalties as unfounded. He has spoken to the company and noted that management intends to host an investor/analyst call later today, he tells investors. Halper has an Overweight rating and $38 price target on Health Insurance Innovations shares, which are off their lows but remain down over 25% in afternoon trading.