P3 Health Partners (NASDAQ:PIII) Stock Price Down 8.5% – Should You Sell?

P3 Health Partners Inc. (NASDAQ:PIII)’s stock price was down 8.5% during trading on Thursday . The stock traded as low as $0.22 and last traded at $0.22. Approximately 307,022 shares traded hands during mid-day trading, a decline of 37% from the average daily volume of 488,401 shares. The stock had previously closed at $0.24.

Wall Street Analyst Weigh In

Separately, TD Cowen reduced their price objective on shares of P3 Health Partners from $0.90 to $0.25 and set a “hold” rating for the company in a report on Wednesday, November 20th.

P3 Health Partners Price Performance

The company’s 50-day simple moving average is $0.24 and its 200 day simple moving average is $0.40. The company has a quick ratio of 0.53, a current ratio of 0.53 and a debt-to-equity ratio of 1.11. The stock has a market capitalization of $77.18 million, a price-to-earnings ratio of -0.26 and a beta of 1.00.

Institutional Investors Weigh In On P3 Health Partners

Institutional investors and hedge funds have recently made changes to their positions in the company. Renaissance Technologies LLC increased its stake in P3 Health Partners by 188.1% during the 2nd quarter. Renaissance Technologies LLC now owns 111,800 shares of the company’s stock worth $50,000 after purchasing an additional 73,000 shares in the last quarter. Trinity Financial Advisors LLC bought a new position in P3 Health Partners in the fourth quarter valued at approximately $261,000. Geode Capital Management LLC boosted its holdings in shares of P3 Health Partners by 115.2% in the 3rd quarter. Geode Capital Management LLC now owns 1,029,259 shares of the company’s stock valued at $398,000 after buying an additional 550,925 shares during the last quarter. Finally, Armistice Capital LLC bought a new position in shares of P3 Health Partners in the second quarter valued at $3,557,000. Institutional investors and hedge funds own 7.75% of the company’s stock.

P3 Health Partners Company Profile

P3 Health Partners Inc, a patient-centered and physician-led population health management company, provides superior care services in the United States. It operates clinics and wellness centers. P3 Health Partners Inc was founded in 2020 and is based in Henderson, Nevada.