NeueHealth (NYSE:NEUE) Shares Up 1.1% – What’s Next?

NeueHealth, Inc. (NYSE:NEUE)’s stock price shot up 1.1% during trading on Thursday . The stock traded as high as $7.39 and last traded at $7.39. 53,968 shares were traded during trading, an increase of 91% from the average session volume of 28,290 shares. The stock had previously closed at $7.31.

Wall Street Analysts Forecast Growth

Separately, Royal Bank of Canada cut their price target 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.

NeueHealth Stock Performance

The firm’s 50-day simple moving average is $6.98 and its 200 day simple moving average is $5.81. The stock has a market capitalization of $60.82 million, a P/E ratio of -0.14 and a beta of 0.58.

Insider Transactions at NeueHealth

In other news, CFO Jay Matushak sold 4,970 shares of the business’s stock in a transaction dated Monday, January 6th. The shares were sold at an average price of $7.33, for a total transaction of $36,430.10. Following the transaction, the chief financial officer now directly owns 17,747 shares in the company, valued at $130,085.51. The trade was a 21.88 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO George Lawrence Mikan III sold 16,803 shares of the business’s stock in a transaction dated Tuesday, December 17th. The stock was sold at an average price of $4.18, for a total transaction of $70,236.54. Following the transaction, the chief executive officer now owns 83,029 shares in the company, valued at $347,061.22. This represents a 16.83 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 58,658 shares of company stock worth $377,034 in the last ninety days. Insiders own 64.30% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Partners Group Holding AG acquired a new position in NeueHealth in the 3rd quarter valued at about $463,000. Northern Trust Corp grew its stake in NeueHealth by 66.8% in the 4th quarter. Northern Trust Corp now owns 32,644 shares of the company’s stock valued at $242,000 after buying an additional 13,074 shares during the last quarter. Finally, Virtu Financial LLC acquired a new position in NeueHealth in the 4th quarter valued at about $76,000. Institutional investors and hedge funds own 63.88% of the company’s stock.

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.