P3 Health Partners Inc. (NASDAQ:PIII) Sees Large Decline in Short Interest

P3 Health Partners Inc. (NASDAQ:PIII) was the target of a large decrease in short interest during the month of June. As of June 15th, there was short interest totaling 68,522 shares, a decrease of 50.4% from the May 31st total of 138,133 shares. Based on an average daily trading volume, of 103,356 shares, the days-to-cover ratio is currently 0.7 days. Approximately 1.1% of the shares of the stock are short sold.

Institutional Investors Weigh In On P3 Health Partners

An institutional investor recently bought a new position in P3 Health Partners stock. Diversified Trust Co acquired a new stake in shares of P3 Health Partners Inc. (NASDAQ:PIII) during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 20,316 shares of the company’s stock, valued at approximately $63,000. Diversified Trust Co owned 0.28% of P3 Health Partners at the end of the most recent quarter. 7.75% of the stock is owned by institutional investors and hedge funds.

P3 Health Partners Price Performance

PIII stock traded up $0.27 during midday trading on Wednesday, reaching $11.07. 23,565 shares of the stock were exchanged, compared to its average volume of 687,396. The stock has a market capitalization of $80.15 million, a PE ratio of -0.29 and a beta of 1.60. P3 Health Partners has a 52 week low of $1.52 and a 52 week high of $16.89. The company has a fifty day moving average price of $8.97 and a 200 day moving average price of $5.02.

P3 Health Partners (NASDAQ:PIII) last posted its earnings results on Thursday, May 14th. The company reported $0.32 earnings per share for the quarter, topping analysts’ consensus estimates of ($4.85) by $5.17. The firm had revenue of $386.39 million for the quarter, compared to analyst estimates of $391.45 million. P3 Health Partners had a negative net margin of 8.57% and a negative return on equity of 302.33%.

Analysts Set New Price Targets

A number of research analysts have issued reports on the company. UBS Group set a $14.00 target price on P3 Health Partners in a research report on Friday, May 15th. Weiss Ratings upgraded shares of P3 Health Partners from a “sell (e+)” rating to a “sell (d-)” rating in a research note on Thursday, May 28th. TD Cowen reaffirmed a “hold” rating and set a $14.00 price target (up from $3.00) on shares of P3 Health Partners in a report on Friday, May 22nd. Finally, Lake Street Capital reiterated a “buy” rating and set a $14.00 price objective (up from $4.00) on shares of P3 Health Partners in a research report on Friday, May 15th. One investment analyst has rated the stock with a Buy rating, two have issued a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, P3 Health Partners presently has a consensus rating of “Hold” and an average price target of $14.00.

About P3 Health Partners

P3 Health Partners is a healthcare technology and services company that delivers data-driven solutions to support health plans in improving quality measures, risk adjustment accuracy and operational efficiency. The company’s platform integrates advanced analytics, reporting capabilities and workflow automation to help clients optimize performance across value-based care programs and regulatory requirements.

The company’s core offerings include quality measurement and reporting for HEDIS, STAR and other performance frameworks, risk adjustment coding and audit services, and population health analytics.