Oscar Health, Inc. (NYSE:OSCR) Short Interest Up 118.5% in July

Key Points

• Oscar Health, Inc. saw a 118.5% increase in short interest during July, with a total of 62,480,000 shares short sold as of July 15th.
• The company reported a net margin of 1.22% and a year-over-year revenue increase of 42.2%, achieving $3 billion during its last quarterly earnings.
• Several brokerages revised their ratings and price targets for Oscar Health, with Barclays and UBS setting an "underweight" rating and a target of $11.00 per share.

Oscar Health, Inc. (NYSE:OSCR - Get Free Report) was the target of a significant increase in short interest in the month of July. As of July 15th, there was short interest totaling 62,480,000 shares, anincreaseof118.5% from the June 30th total of 28,590,000 shares. Currently,34.7% of the shares of the stock are sold short. Based on an average trading volume of 21,750,000 shares, the short-interest ratio is presently 2.9 days. Based on an average trading volume of 21,750,000 shares, the short-interest ratio is presently 2.9 days. Currently,34.7% of the shares of the stock are sold short.

Insider Buying and Selling at Oscar Health

In other Oscar Health news, Director Elbert O. Jr. Robinson sold 25,000 shares of the company's stock in a transaction dated Monday, May 12th. The shares were sold at an average price of $16.43, for a total value of $410,750.00. Following the completion of the transaction, the director owned 64,512 shares in the company, valued at approximately $1,059,932.16. This represents a 27.93% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Company insiders own 24.39% of the company's stock.

Hedge Funds Weigh In On Oscar Health

Several institutional investors and hedge funds have recently bought and sold shares of the company. LRI Investments LLC lifted its holdings in shares of Oscar Health by 377.9% in the 2nd quarter. LRI Investments LLC now owns 1,233 shares of the company's stock worth $26,000 after acquiring an additional 975 shares during the last quarter. Jones Financial Companies Lllp lifted its holdings in shares of Oscar Health by 7,473.3% in the 1st quarter. Jones Financial Companies Lllp now owns 2,272 shares of the company's stock worth $30,000 after acquiring an additional 2,242 shares during the last quarter. Strs Ohio acquired a new position in shares of Oscar Health in the 1st quarter worth approximately $30,000. Larson Financial Group LLC lifted its holdings in shares of Oscar Health by 83,733.3% in the 1st quarter. Larson Financial Group LLC now owns 2,515 shares of the company's stock worth $33,000 after acquiring an additional 2,512 shares during the last quarter. Finally, Atlantic Union Bankshares Corp acquired a new position in shares of Oscar Health in the 2nd quarter worth approximately $33,000. 75.70% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of analysts have recently commented on the stock. UBS Group reissued a "sell" rating and set a $11.00 target price (down previously from $15.00) on shares of Oscar Health in a research note on Tuesday, July 15th. Wells Fargo & Company cut shares of Oscar Health from an "equal weight" rating to an "underweight" rating and cut their target price for the stock from $16.00 to $10.00 in a research note on Friday, July 11th. Raymond James Financial cut shares of Oscar Health from an "outperform" rating to a "market perform" rating in a research note on Tuesday, June 24th. Barclays cut their target price on shares of Oscar Health from $17.00 to $11.00 and set an "underweight" rating for the company in a research note on Wednesday, July 23rd. Finally, Robert W. Baird reissued a "neutral" rating and set a $14.00 target price (down previously from $28.00) on shares of Oscar Health in a research note on Friday, July 25th. Six investment analysts have rated the stock with a sell rating and four have given a hold rating to the stock. Based on data from MarketBeat, the company has a consensus rating of "Reduce" and an average target price of $12.21.

Oscar Health Price Performance

NYSE OSCR traded up $0.27 during trading hours on Friday, hitting $15.43. 16,244,433 shares of the company's stock traded hands, compared to its average volume of 35,176,252. Oscar Health has a 52-week low of $11.20 and a 52-week high of $23.79. The company has a market capitalization of $3.93 billion, a PE ratio of -19.05 and a beta of 1.86. The company has a debt-to-equity ratio of 0.22, a current ratio of 0.88 and a quick ratio of 0.88. The firm's 50-day moving average is $15.90 and its 200-day moving average is $14.86.

Oscar Health (NYSE:OSCR - Get Free Report) last announced its quarterly earnings data on Wednesday, August 6th. The company reported ($0.89) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.90) by $0.01. The company had revenue of $2.86 billion during the quarter, compared to analysts' expectations of $2.88 billion. Oscar Health had a negative net margin of 1.50% and a negative return on equity of 13.75%. Oscar Health's revenue was up 29.0% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.20 EPS. Equities analysts forecast that Oscar Health will post 0.69 EPS for the current fiscal year.

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.