Bright Health Group (NYSE:BHG) Hits New 52-Week Low at $1.38

Bright Health Group, Inc. (NYSE:BHGGet Rating)’s share price reached a new 52-week low during trading on Friday . The stock traded as low as $1.38 and last traded at $1.40, with a volume of 96873 shares changing hands. The stock had previously closed at $1.52.

Analysts Set New Price Targets

Several equities analysts recently commented on the company. Piper Sandler dropped their target price on Bright Health Group from $5.00 to $3.00 and set an “overweight” rating for the company in a research note on Thursday, August 11th. Cowen dropped their target price on Bright Health Group to $2.00 in a research note on Monday, August 22nd. Two analysts have rated the stock with a sell rating, five have assigned a hold rating and two have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $3.61.

Bright Health Group Stock Down 9.2 %

The company has a market capitalization of $868.99 million, a price-to-earnings ratio of -0.54 and a beta of -0.43. The company has a 50 day simple moving average of $1.73 and a 200 day simple moving average of $1.83.

Bright Health Group (NYSE:BHGGet Rating) last announced its quarterly earnings results on Wednesday, August 10th. The company reported ($0.45) EPS for the quarter, missing the consensus estimate of ($0.38) by ($0.07). The firm had revenue of $1.58 billion for the quarter, compared to analyst estimates of $1.80 billion. Bright Health Group had a negative return on equity of 134.30% and a negative net margin of 29.07%. The business’s revenue was up 41.5% compared to the same quarter last year. During the same quarter in the prior year, the company earned ($0.28) earnings per share. On average, research analysts forecast that Bright Health Group, Inc. will post -1.76 EPS for the current fiscal year.

Institutional Investors Weigh In On Bright Health Group

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Psagot Value Holdings Ltd. Israel boosted its holdings in Bright Health Group by 601.5% in the fourth quarter. Psagot Value Holdings Ltd. Israel now owns 7,261 shares of the company’s stock valued at $25,000 after purchasing an additional 6,226 shares during the last quarter. AdvisorNet Financial Inc boosted its holdings in Bright Health Group by 26.6% in the first quarter. AdvisorNet Financial Inc now owns 42,332 shares of the company’s stock valued at $82,000 after purchasing an additional 8,897 shares during the last quarter. Legacy Advisors LLC boosted its holdings in Bright Health Group by 100.0% in the first quarter. Legacy Advisors LLC now owns 20,000 shares of the company’s stock valued at $39,000 after purchasing an additional 10,000 shares during the last quarter. Advisor Group Holdings Inc. raised its stake in Bright Health Group by 88.2% during the fourth quarter. Advisor Group Holdings Inc. now owns 24,648 shares of the company’s stock valued at $85,000 after buying an additional 11,550 shares in the last quarter. Finally, ProShare Advisors LLC acquired a new stake in Bright Health Group during the fourth quarter valued at approximately $40,000. 70.19% of the stock is currently owned by institutional investors and hedge funds.

Bright Health Group Company Profile

(Get Rating)

Bright Health Group, Inc, a healthcare company, provides health insurance policies in the United States. It operates in two segments, NeueHealth and Bright HealthCare. The NeueHealth segment delivers virtual and in-person clinical care services to patients under contracts through its owned and affiliated primary care clinics.

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