Oncology Institute (NASDAQ:TOI) Trading Down 6.9% - Here's Why

The Oncology Institute, Inc. (NASDAQ:TOI - Get Free Report) was down 6.9% on Thursday . The company traded as low as $0.88 and last traded at $0.89. Approximately 259,349 shares were traded during mid-day trading, a decline of 69% from the average daily volume of 848,664 shares. The stock had previously closed at $0.96.

Oncology Institute Stock Performance

The company has a debt-to-equity ratio of 5.91, a quick ratio of 2.27 and a current ratio of 2.49. The business has a 50 day moving average price of $0.58 and a two-hundred day moving average price of $0.40. The company has a market cap of $67.24 million, a P/E ratio of -1.14 and a beta of 0.37.

Insider Activity

In other Oncology Institute news, Director Brad Hively purchased 250,000 shares of the stock in a transaction on Tuesday, November 26th. The stock was acquired at an average price of $0.17 per share, with a total value of $42,500.00. Following the transaction, the director now directly owns 616,753 shares of the company's stock, valued at approximately $104,848.01. This trade represents a 68.17 % increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. 9.50% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of TOI. HighTower Advisors LLC raised its position in Oncology Institute by 190.8% during the 3rd quarter. HighTower Advisors LLC now owns 81,362 shares of the company's stock valued at $27,000 after purchasing an additional 53,382 shares during the last quarter. Tiff Advisory Services LLC raised its position in Oncology Institute by 13.2% during the 4th quarter. Tiff Advisory Services LLC now owns 2,979,141 shares of the company's stock valued at $921,000 after purchasing an additional 346,256 shares during the last quarter. FreeGulliver LLC raised its position in Oncology Institute by 219.3% during the 4th quarter. FreeGulliver LLC now owns 600,747 shares of the company's stock valued at $186,000 after purchasing an additional 412,578 shares during the last quarter. Virtu Financial LLC bought a new position in Oncology Institute during the 4th quarter valued at approximately $41,000. Finally, Renaissance Technologies LLC raised its position in Oncology Institute by 7.1% during the 4th quarter. Renaissance Technologies LLC now owns 182,000 shares of the company's stock valued at $56,000 after purchasing an additional 12,000 shares during the last quarter. Institutional investors own 36.86% of the company's stock.

About Oncology Institute

The Oncology Institute, Inc, an oncology company, provides various medical oncology services in the United States. The company operates through three segments: Dispensary, Patient Services, and Clinical Trials & Other. It offers physician services, in-house infusion and dispensary, clinical trial, radiation, outpatient blood product transfusion, and patient support services, as well as educational seminars, support groups, and counseling services.