P3 Health Partners (NASDAQ:PIII) Shares Down 8.5% – Here’s Why

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

Wall Street Analysts Forecast Growth

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

P3 Health Partners Trading Down 8.5 %

The business has a 50 day moving average of $0.24 and a 200 day moving average of $0.40. The firm has a market capitalization of $79.59 million, a price-to-earnings ratio of -0.26 and a beta of 1.00. The company has a debt-to-equity ratio of 1.11, a current ratio of 0.53 and a quick ratio of 0.53.

Hedge Funds Weigh In On P3 Health Partners

Several institutional investors have recently modified their holdings of the stock. Renaissance Technologies LLC grew its stake in P3 Health Partners by 188.1% in the second quarter. Renaissance Technologies LLC now owns 111,800 shares of the company’s stock valued at $50,000 after acquiring an additional 73,000 shares during the period. Geode Capital Management LLC grew its position 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 purchasing an additional 550,925 shares during the period. Finally, Armistice Capital LLC bought a new stake in P3 Health Partners during the 2nd quarter worth approximately $3,557,000. 7.75% of the stock is currently owned by institutional investors and hedge funds.

About P3 Health Partners

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.