Oscar Health (NYSE:OSCR) Shares Gap Down - Here's What Happened

Oscar Health, Inc. (NYSE:OSCR - Get Free Report)'s share price gapped down prior to trading on Tuesday . The stock had previously closed at $15.53, but opened at $14.94. Oscar Health shares last traded at $13.50, with a volume of 1,635,366 shares traded.

Analysts Set New Price Targets

Several research analysts have recently weighed in on the stock. Jefferies Financial Group assumed coverage on shares of Oscar Health in a report on Tuesday, December 10th. They issued an "underperform" rating and a $12.00 price target on the stock. Wells Fargo & Company cut shares of Oscar Health from an "overweight" rating to an "equal weight" rating and decreased their price target for the stock from $20.00 to $16.00 in a report on Thursday. Two analysts have rated the stock with a sell rating, three have assigned a hold rating, three have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the company currently has an average rating of "Hold" and a consensus target price of $20.19.

Oscar Health Trading Up 2.7 %

The firm's 50-day simple moving average is $15.21 and its 200-day simple moving average is $16.38. The company has a quick ratio of 0.73, a current ratio of 0.73 and a debt-to-equity ratio of 0.26. The firm has a market capitalization of $3.31 billion, a PE ratio of -660.92 and a beta of 1.75.

Oscar Health (NYSE:OSCR - Get Free Report) last posted its quarterly earnings results on Tuesday, February 4th. The company reported ($0.62) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.55) by ($0.07). Oscar Health had a net margin of 0.28% and a return on equity of 2.28%. Equities analysts expect that Oscar Health, Inc. will post 0.69 earnings per share for the current year.

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Institutional Trading of Oscar Health

A number of institutional investors have recently modified their holdings of the company. Summit Investment Advisors Inc. boosted its holdings in shares of Oscar Health by 5.8% during the fourth quarter. Summit Investment Advisors Inc. now owns 20,838 shares of the company's stock worth $280,000 after purchasing an additional 1,141 shares during the period. KBC Group NV lifted its holdings in Oscar Health by 41.2% in the third quarter. KBC Group NV now owns 4,552 shares of the company's stock worth $97,000 after buying an additional 1,328 shares during the period. Arizona State Retirement System lifted its holdings in Oscar Health by 3.1% in the fourth quarter. Arizona State Retirement System now owns 47,918 shares of the company's stock worth $644,000 after buying an additional 1,454 shares during the period. Xponance Inc. lifted its holdings in Oscar Health by 12.9% in the fourth quarter. Xponance Inc. now owns 14,394 shares of the company's stock worth $193,000 after buying an additional 1,649 shares during the period. Finally, Zurcher Kantonalbank Zurich Cantonalbank lifted its holdings in Oscar Health by 9.2% in the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 26,446 shares of the company's stock worth $561,000 after buying an additional 2,236 shares during the period. 75.70% of the stock is currently owned by hedge funds and other institutional investors.

About Oscar Health

Oscar Health, Inc operates as a health insurance in the United States. The company offers health plans in individual and small group markets, as well as +Oscar, a technology driven platform that help providers and payors directly enable their shift to value-based care. It also provides reinsurance products.