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

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

Analysts Set New Price Targets

Separately, TD Cowen cut 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 report on Wednesday, November 20th.

P3 Health Partners Trading Down 8.5 %

The stock has a market cap of $79.59 million, a PE ratio of -0.26 and a beta of 1.00. The company has a current ratio of 0.53, a quick ratio of 0.53 and a debt-to-equity ratio of 1.11. The firm has a fifty day simple moving average of $0.24 and a two-hundred day simple moving average of $0.40.

Institutional Investors Weigh In On P3 Health Partners

Hedge funds have recently bought and sold shares of the stock. Armistice Capital LLC bought a new position in shares of P3 Health Partners in the 2nd quarter worth $3,557,000. Geode Capital Management LLC grew its position in P3 Health Partners by 115.2% in the third quarter. Geode Capital Management LLC now owns 1,029,259 shares of the company’s stock worth $398,000 after acquiring an additional 550,925 shares in the last quarter. Finally, Renaissance Technologies LLC increased 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 last quarter. 7.75% of the stock is currently owned by institutional investors.

P3 Health Partners Company Profile

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.