As of May 19, 2023, Bright Health Group (BHG) has experienced a 12.17% decrease in its short percent of float since its last report. BHG has reported that 14.87 million of its shares have been sold short, representing 6.28% of all regular shares available for trading. Monitoring short interest is crucial as it can serve as an indicator of market sentiment towards a particular stock. An increase in short interest may signify a more bearish outlook from investors, while a decrease in short interest may indicate a more bullish outlook.
Additional details regarding BHG’s short interest show that the company has more short interest compared to most of its peer groups, with a peer group average of 3.25% short interest as a percentage of float. BHG’s shares currently have a short interest ratio of 4.0, and the company’s short interest percentage stands at 7.53%. Although the percentage of shares sold short for BHG has declined since its last report, it is important to note that a decrease in short interest does not necessarily guarantee a rise in the stock’s value in the near-term. Nonetheless, traders should take note that fewer shares are being shorted.
BHG Stock Opens Significantly Lower on May 19, 2023, Despite Impressive Earnings Growth
On May 19, 2023, BHG stock opened at 0.17, significantly lower than its previous close of 14.47. Throughout the day, the stock remained within a narrow range of 0.17 – 0.19. The trading volume for the day was 15,611,722, which is significantly higher than the average volume of 2,706,774 over the past three months. The market capitalization of BHG stands at $122.1M.
BHG is a company in the Managed Health Care industry. The next reporting date for BHG is August 1, 2023, and the EPS forecast for this quarter is -$0.08.
In terms of financial performance, BHG experienced a significant decline in revenue growth of -40.14% last year. However, the company has shown impressive earnings growth this year, with a positive 69.38% growth rate. Looking ahead, the company is expected to continue this growth trend, with a projected earnings growth rate of 41.04% over the next five years.
BHG’s price-to-earnings (P/E) ratio is not available, indicating that the company is not currently profitable. Additionally, the company’s net profit margin stands at -30.42%, indicating that BHG is currently operating at a loss.
Overall, BHG’s stock performance on May 19, 2023, was disappointing, with the stock opening at a significantly lower price than the previous close. However, the company’s impressive earnings growth rate this year and projected growth over the next five years provide some hope for investors. It will be interesting to see how the company performs in the coming months leading up to its next reporting date.
Bright Health Group Inc (BHG) Sees Significant Increase in Stock Performance, But Investors Remain Cautious Ahead of Earnings Report
On May 19, 2023, Bright Health Group Inc (BHG) saw a significant increase in its stock performance, with a median target price of 1.00, representing a +454.02% increase from the last price of 0.18. The high estimate of 4.00 and low estimate of 0.50 provided by the 6 analysts offering 12-month price forecasts for BHG show a wide range of expectations for the company’s future performance. Despite the optimistic price forecasts, the current consensus among 7 polled investment analysts is to hold stock in BHG. This suggests that while the company’s potential for growth is high, there may be some uncertainty or caution among investors. BHG is set to report its earnings on August 01, which will provide further insight into the company’s financial health and potential for growth.