NeueHealth, Inc. (NYSE:NEUE) Sees Large Decline in Short Interest

NeueHealth, Inc. (NYSE:NEUE) was the target of a significant drop in short interest in the month of December. As of December 15th, there was short interest totalling 13,700 shares, a drop of 48.9% from the November 30th total of 26,800 shares. Approximately 0.5% of the company’s stock are sold short. Based on an average trading volume of 22,800 shares, the short-interest ratio is currently 0.6 days.

Insider Activity at NeueHealth

In related news, CEO George Lawrence Mikan III sold 16,803 shares of the stock in a transaction on Tuesday, December 17th. The stock was sold at an average price of $4.18, for a total value of $70,236.54. Following the sale, the chief executive officer now owns 83,029 shares in the company, valued at approximately $347,061.22. This represents a 16.83 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 64.30% of the stock is currently owned by insiders.

Hedge Funds Weigh In On NeueHealth

Institutional investors have recently modified their holdings of the company. Pathway Capital Management LP purchased a new stake in shares of NeueHealth in the second quarter worth approximately $61,000. Renaissance Technologies LLC bought a new stake in shares of NeueHealth in the 2nd quarter worth $312,000. Partners Group Holding AG bought a new stake in NeueHealth in the 3rd quarter worth about $463,000. Deer Management Co. LLC bought a new stake in NeueHealth in the 2nd quarter worth about $5,436,000. Finally, NEA Management Company LLC bought a new position in shares of NeueHealth during the 2nd quarter worth approximately $14,834,000. 63.88% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Separately, Royal Bank of Canada reduced their target price on NeueHealth from $8.00 to $7.00 and set a “sector perform” rating on the stock in a report on Monday, December 9th.

NeueHealth Stock Performance

Shares of NeueHealth stock traded up $0.07 during midday trading on Friday, hitting $7.34. 5,185 shares of the company traded hands, compared to its average volume of 21,309. The stock has a market cap of $60.81 million, a price-to-earnings ratio of -0.14 and a beta of 0.78. The firm’s fifty day moving average price is $5.14 and its 200-day moving average price is $5.26. NeueHealth has a 12 month low of $3.79 and a 12 month high of $16.59.

NeueHealth Company Profile

NeueHealth, Inc, a healthcare company, provides various healthcare services for health consumers, providers, and payors in the United States. It operates through two segments: NeueCare and NeueSolutions. The NeueCare segment delivers healthcare services to ACA marketplace, medicare, and medicaid through owned and affiliated clinics.