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

P3 Health Partners Inc. (NASDAQ:PIII) was the recipient of a large decrease in short interest in April. As of April 15th, there was short interest totaling 74,532 shares, a decrease of 21.5% from the March 31st total of 94,972 shares. Based on an average daily trading volume, of 29,822 shares, the days-to-cover ratio is currently 2.5 days. Currently, 1.3% of the shares of the stock are short sold.

P3 Health Partners Stock Performance

Shares of PIII opened at $2.93 on Friday. P3 Health Partners has a 1 year low of $1.52 and a 1 year high of $11.30. The company’s 50 day simple moving average is $2.66 and its 200 day simple moving average is $4.16. The company has a market capitalization of $21.13 million, a price-to-earnings ratio of -0.06 and a beta of 0.48.

P3 Health Partners (NASDAQ:PIII) last released its earnings results on Thursday, March 26th. The company reported ($23.02) EPS for the quarter, missing the consensus estimate of ($8.06) by ($14.96). P3 Health Partners had a negative return on equity of 302.33% and a negative net margin of 10.14%.The firm had revenue of $384.81 million during the quarter, compared to analysts’ expectations of $357.65 million.

Analyst Ratings Changes

PIII has been the subject of a number of analyst reports. TD Cowen cut their price target on P3 Health Partners from $8.00 to $3.00 and set a “hold” rating for the company in a report on Thursday, April 2nd. Lake Street Capital reduced their price objective on P3 Health Partners from $12.50 to $4.00 and set a “buy” rating on the stock in a research report on Friday, March 27th. Finally, Weiss Ratings reiterated a “sell (e+)” rating on shares of P3 Health Partners in a research report on Tuesday, April 21st. One equities research analyst has rated the stock with a Buy rating, two have given a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, P3 Health Partners has an average rating of “Hold” and a consensus target price of $3.50.

Hedge Funds Weigh In On P3 Health Partners

A hedge fund recently bought a new stake in P3 Health Partners stock. Diversified Trust Co bought a new position in shares of P3 Health Partners Inc. (NASDAQ:PIII) during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor bought 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. Institutional investors own 7.75% of the company’s stock.

P3 Health Partners Company Profile

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.