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

NeueHealth, Inc. (NYSE:NEUE) was the recipient of a large decrease in short interest during the month of December. As of December 15th, there was short interest totalling 13,700 shares, a decrease of 48.9% from the November 30th total of 26,800 shares. Based on an average daily trading volume, of 22,800 shares, the short-interest ratio is presently 0.6 days. Approximately 0.5% of the shares of the company are short sold.

NeueHealth Price Performance

NEUE traded up $0.07 on Friday, hitting $7.34. The company had a trading volume of 5,185 shares, compared to its average volume of 21,309. NeueHealth has a 52-week low of $3.79 and a 52-week high of $16.59. The firm has a market capitalization of $60.81 million, a P/E ratio of -0.14 and a beta of 0.78. The stock has a fifty day simple moving average of $5.14 and a 200-day simple moving average of $5.26.

Analyst Ratings Changes

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

Insider Activity

In other news, CEO George Lawrence Mikan III sold 16,803 shares of the company’s stock in a transaction on Tuesday, December 17th. The shares were sold at an average price of $4.18, for a total value of $70,236.54. Following the transaction, the chief executive officer now owns 83,029 shares of the company’s stock, valued at approximately $347,061.22. This represents a 16.83 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Insiders own 64.30% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in NEUE. Pathway Capital Management LP purchased a new position in shares of NeueHealth during the second quarter valued at approximately $61,000. Renaissance Technologies LLC purchased a new stake in NeueHealth during the second quarter valued at approximately $312,000. Partners Group Holding AG purchased a new position in shares of NeueHealth during the 3rd quarter valued at about $463,000. Deer Management Co. LLC purchased a new position in shares of NeueHealth during the 2nd quarter valued at $5,436,000. Finally, NEA Management Company LLC bought a new position in NeueHealth in the 2nd quarter worth $14,834,000. Institutional investors own 63.88% of the company’s stock.

About NeueHealth

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.