GoHealth (NASDAQ:GOCO) Trading Down 2.3% – Here’s Why

GoHealth, Inc. (NASDAQ:GOCO)’s share price fell 2.3% during mid-day trading on Wednesday . The company traded as low as $0.29 and last traded at $0.2980. 2,704,303 shares were traded during mid-day trading, an increase of 195% from the average session volume of 916,731 shares. The stock had previously closed at $0.3050.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on GOCO. Weiss Ratings restated a “sell (e+)” rating on shares of GoHealth in a research note on Friday, April 24th. Noble Financial upgraded shares of GoHealth to a “strong-buy” rating in a research note on Wednesday, April 1st. Finally, Freedom Capital lowered shares of GoHealth from a “strong-buy” rating to a “hold” rating in a research note on Monday, April 6th. One analyst has rated the stock with a Strong Buy rating, three have assigned a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $5.00.

GoHealth Stock Performance

The business’s 50 day simple moving average is $0.84 and its 200-day simple moving average is $1.65. The stock has a market capitalization of $8.60 million, a price-to-earnings ratio of -0.01 and a beta of 1.19.

GoHealth (NASDAQ:GOCO) last posted its earnings results on Monday, May 18th. The company reported ($2.36) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($2.40) by $0.04. The firm had revenue of $11.91 million during the quarter, compared to analyst estimates of $16.90 million. GoHealth had a negative net margin of 189.73% and a negative return on equity of 402.70%. As a group, sell-side analysts expect that GoHealth, Inc. will post -9.19 EPS for the current year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the company. Public Sector Pension Investment Board acquired a new position in GoHealth during the 3rd quarter valued at about $8,100,000. Corient Private Wealth LLC raised its position in shares of GoHealth by 7.7% during the 2nd quarter. Corient Private Wealth LLC now owns 125,938 shares of the company’s stock worth $699,000 after buying an additional 8,979 shares in the last quarter. Geode Capital Management LLC raised its position in shares of GoHealth by 4.3% during the 2nd quarter. Geode Capital Management LLC now owns 118,961 shares of the company’s stock worth $660,000 after buying an additional 4,955 shares in the last quarter. Empowered Funds LLC raised its position in shares of GoHealth by 7.7% during the 1st quarter. Empowered Funds LLC now owns 25,008 shares of the company’s stock worth $307,000 after buying an additional 1,790 shares in the last quarter. Finally, Focus Partners Wealth bought a new stake in shares of GoHealth during the 3rd quarter worth about $270,000. 24.21% of the stock is owned by institutional investors and hedge funds.

GoHealth Company Profile

GoHealth, Inc is a technology-driven health insurance marketplace that connects consumers with a wide range of health insurance plans from leading carriers. Through its digital platform, the company facilitates the comparison, selection and enrollment process for individual and family plans, as well as Medicare Advantage and Medicare Supplement products. By leveraging data analytics and customer support services, GoHealth aims to simplify a traditionally complex market and enable more informed decision-making for policyholders.

The company’s online portal integrates real-time quoting tools, educational resources and access to licensed insurance agents, ensuring that users receive personalized guidance throughout the enrollment journey.