NeueHealth (NYSE:NEUE) Stock Price Up 1.1% - Time to Buy?

NeueHealth, Inc. (NYSE:NEUE - Get Free Report)'s share price rose 1.1% during trading on Thursday . The stock traded as high as $7.39 and last traded at $7.39. Approximately 53,968 shares were traded during trading, an increase of 91% from the average daily volume of 28,290 shares. The stock had previously closed at $7.31.

Wall Street Analysts Forecast Growth

Separately, Royal Bank of Canada decreased their price objective on NeueHealth from $8.00 to $7.00 and set a "sector perform" rating on the stock in a report on Monday, December 9th.

NeueHealth Trading Down 0.6 %

The stock has a market capitalization of $60.82 million, a P/E ratio of -0.14 and a beta of 0.58. The stock's fifty day moving average price is $6.93 and its two-hundred day moving average price is $5.80.

Insider Buying and Selling

In other NeueHealth news, CFO Jay Matushak sold 4,970 shares of the business's stock in a transaction that occurred on Monday, January 6th. The stock was sold at an average price of $7.33, for a total value of $36,430.10. Following the completion of the sale, the chief financial officer now owns 17,747 shares in the company, valued at approximately $130,085.51. The trade was a 21.88 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO George Lawrence Mikan III sold 16,803 shares of the firm's stock in a transaction that occurred on Tuesday, December 17th. The stock was sold at an average price of $4.18, for a total transaction of $70,236.54. Following the completion of 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 position. The disclosure for this sale can be found here. Insiders have sold a total of 58,658 shares of company stock worth $377,034 in the last 90 days. 64.30% of the stock is owned by company insiders.

Institutional Investors Weigh In On NeueHealth

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Virtu Financial LLC bought a new stake in NeueHealth in the 4th quarter worth $76,000. Northern Trust Corp boosted its holdings in shares of NeueHealth by 66.8% during the fourth quarter. Northern Trust Corp now owns 32,644 shares of the company's stock worth $242,000 after purchasing an additional 13,074 shares during the period. Finally, Partners Group Holding AG purchased a new stake in shares of NeueHealth during the third quarter worth about $463,000. 63.88% of the stock is currently owned by institutional investors.

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.