NeueHealth (NYSE:NEUE) Stock Price Up 2.3% – Still a Buy?

NeueHealth, Inc. (NYSE:NEUE)’s stock price was up 2.3% during trading on Thursday . The stock traded as high as $5.23 and last traded at $5.07. Approximately 5,080 shares traded hands during mid-day trading, a decline of 72% from the average daily volume of 18,213 shares. The stock had previously closed at $4.95.

NeueHealth Price Performance

The stock has a market cap of $41.96 million, a price-to-earnings ratio of -0.10 and a beta of 0.76. The firm has a fifty day moving average of $5.24 and a 200 day moving average of $5.42.

Institutional Investors Weigh In On NeueHealth

Several hedge funds and other institutional investors have recently made changes to their positions in NEUE. Partners Group Holding AG purchased a new position in NeueHealth in the third quarter worth approximately $463,000. Deer Management Co. LLC purchased a new position in NeueHealth in the second quarter valued at $5,436,000. NEA Management Company LLC acquired a new stake in NeueHealth in the second quarter valued at $14,834,000. Renaissance Technologies LLC acquired a new stake in NeueHealth in the second quarter valued at $312,000. Finally, Pathway Capital Management LP acquired a new stake in shares of NeueHealth during the second quarter worth about $61,000. Institutional investors and hedge funds 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.