NeueHealth (NYSE:NEUE) Shares Up 1.1% – What’s Next?

NeueHealth, Inc. (NYSE:NEUE) shares shot up 1.1% during trading on Thursday . The company traded as high as $7.39 and last traded at $7.39. 53,968 shares traded hands during mid-day trading, an increase of 91% from the average session volume of 28,290 shares. The stock had previously closed at $7.31.

Wall Street Analyst Weigh In

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

NeueHealth Trading Down 0.6 %

The stock’s 50-day simple moving average is $6.98 and its 200-day simple moving average is $5.81. The stock has a market cap of $60.82 million, a price-to-earnings ratio of -0.14 and a beta of 0.58.

Insider Transactions at NeueHealth

In other news, CFO Jay Matushak sold 4,970 shares of the company’s stock in a transaction that occurred on Monday, January 6th. The shares were sold at an average price of $7.33, for a total transaction of $36,430.10. Following the completion of the sale, the chief financial officer now owns 17,747 shares of the company’s stock, valued at approximately $130,085.51. This represents a 21.88 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CEO George Lawrence Mikan III sold 16,803 shares of the stock in a transaction that occurred on Tuesday, December 17th. The shares were 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 directly owns 83,029 shares of the company’s stock, valued at approximately $347,061.22. The trade was a 16.83 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 58,658 shares of company stock valued at $377,034. Company insiders own 64.30% of the company’s stock.

Hedge Funds Weigh In On NeueHealth

Several institutional investors and hedge funds have recently added to or reduced their stakes in NEUE. Partners Group Holding AG bought a new position in NeueHealth in the 3rd quarter valued at approximately $463,000. Northern Trust Corp lifted its stake in NeueHealth by 66.8% in the 4th quarter. Northern Trust Corp now owns 32,644 shares of the company’s stock valued at $242,000 after purchasing an additional 13,074 shares during the last quarter. Finally, Virtu Financial LLC bought a new position in NeueHealth in the 4th quarter valued at approximately $76,000. Institutional investors own 63.88% of the company’s stock.

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.