NeueHealth, Inc. (NYSE:NEUE) Sees Significant Growth in Short Interest

NeueHealth, Inc. (NYSE:NEUE - Get Free Report) was the target of a significant increase in short interest in the month of May. As of May 15th, there was short interest totalling 5,800 shares, an increase of 28.9% from the April 30th total of 4,500 shares. Currently, 0.2% of the shares of the stock are short sold. Based on an average daily volume of 20,700 shares, the days-to-cover ratio is currently 0.3 days.

NeueHealth Trading Down 0.3%

Shares of NYSE:NEUE traded down $0.02 during midday trading on Friday, reaching $6.75. 2,689 shares of the company were exchanged, compared to its average volume of 20,382. The business's fifty day moving average is $6.67 and its two-hundred day moving average is $6.56. NeueHealth has a one year low of $3.79 and a one year high of $7.66. The stock has a market cap of $60.27 million, a PE ratio of -0.13 and a beta of 0.55.

NeueHealth (NYSE:NEUE - Get Free Report) last issued its earnings results on Thursday, May 8th. The company reported ($1.80) earnings per share for the quarter, topping analysts' consensus estimates of ($2.51) by $0.71. NeueHealth had a negative net margin of 36.28% and a negative return on equity of 6.40%. The firm had revenue of $215.79 million during the quarter, compared to analyst estimates of $249.50 million. As a group, sell-side analysts expect that NeueHealth will post -9.13 EPS for the current year.

Insiders Place Their Bets

In other NeueHealth news, CEO George Lawrence Mikan III sold 12,440 shares of the company's stock in a transaction that occurred on Friday, March 14th. The shares were sold at an average price of $6.13, for a total value of $76,257.20. Following the completion of the transaction, the chief executive officer now directly owns 249,454 shares in the company, valued at $1,529,153.02. This represents a 4.75% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CFO Jay Matushak sold 4,448 shares of the company's stock in a transaction on Thursday, March 13th. The stock was sold at an average price of $6.74, for a total transaction of $29,979.52. Following the transaction, the chief financial officer now owns 41,592 shares of the company's stock, valued at approximately $280,330.08. This represents a 9.66% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 38,382 shares of company stock worth $253,279 over the last three months. 63.30% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On NeueHealth

A number of hedge funds and other institutional investors have recently modified their holdings of NEUE. PenderFund Capital Management Ltd. bought a new position in shares of NeueHealth during the first quarter worth $197,000. Northern Trust Corp lifted its position in NeueHealth by 66.8% during the fourth 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 during the fourth quarter valued at $76,000. Institutional investors own 63.88% of the company's stock.

About NeueHealth

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.