Bright Health Group (NYSE:BHG) Shares Gap Down to $1.19

Bright Health Group, Inc. (NYSE:BHGGet Rating)’s share price gapped down prior to trading on Wednesday . The stock had previously closed at $1.19, but opened at $1.16. Bright Health Group shares last traded at $1.22, with a volume of 6,364 shares changing hands.

Analyst Upgrades and Downgrades

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

Bright Health Group Trading Down 4.2 %

The business has a 50-day moving average price of $1.68 and a 200-day moving average price of $1.81. The firm has a market cap of $711.56 million, a P/E ratio of -0.44 and a beta of -0.43.

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

Institutional Investors Weigh In On Bright Health Group

Institutional investors have recently added to or reduced their stakes in the stock. Strs Ohio boosted its position in Bright Health Group by 43.3% during the first quarter. Strs Ohio now owns 270,200 shares of the company’s stock valued at $521,000 after purchasing an additional 81,700 shares in the last quarter. Legacy Advisors LLC boosted its position in Bright Health Group by 100.0% during 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 in the last quarter. Tradition Wealth Management LLC boosted its position in Bright Health Group by 20.7% during the first quarter. Tradition Wealth Management LLC now owns 95,407 shares of the company’s stock valued at $184,000 after purchasing an additional 16,348 shares in the last quarter. Brown Advisory Inc. boosted its position in Bright Health Group by 96.7% during the first quarter. Brown Advisory Inc. now owns 432,760 shares of the company’s stock valued at $1,017,000 after purchasing an additional 212,760 shares in the last quarter. Finally, MCF Advisors LLC bought a new stake in Bright Health Group during the first quarter valued at about $58,000. Institutional investors own 70.19% of the company’s stock.

About Bright Health Group

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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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