Lake Street Capital Issues Pessimistic Forecast for P3 Health Partners (NASDAQ:PIII) Stock Price

P3 Health Partners (NASDAQ:PIII) had its price target decreased by stock analysts at Lake Street Capital from $50.00 to $20.00 in a report released on Monday,Benzinga reports. The firm currently has a “buy” rating on the stock. Lake Street Capital’s target price would suggest a potential upside of 118.34% from the company’s previous close.

P3 Health Partners Stock Performance

Shares of NASDAQ:PIII traded down $0.08 during midday trading on Monday, reaching $9.16. 2,332 shares of the company traded hands, compared to its average volume of 20,346. The firm’s fifty day moving average price is $9.31 and its two-hundred day moving average price is $11.81. The firm has a market capitalization of $65.79 million, a price-to-earnings ratio of -10.90 and a beta of 0.96. The company has a quick ratio of 0.53, a current ratio of 0.53 and a debt-to-equity ratio of 1.11. P3 Health Partners has a 12 month low of $7.00 and a 12 month high of $40.50.

P3 Health Partners (NASDAQ:PIII) last announced its quarterly earnings results on Thursday, March 27th. The company reported ($16.00) earnings per share for the quarter, missing the consensus estimate of ($8.50) by ($7.50). P3 Health Partners had a negative net margin of 6.95% and a negative return on equity of 71.31%. The company had revenue of $370.69 million for the quarter, compared to the consensus estimate of $378.88 million. On average, equities analysts expect that P3 Health Partners will post -0.67 earnings per share for the current year.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in PIII. Trinity Financial Advisors LLC bought a new position in shares of P3 Health Partners during the 4th quarter valued at $261,000. Geode Capital Management LLC increased its holdings in shares of 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 buying an additional 550,925 shares during the period. Wealthedge Investment Advisors LLC bought a new stake in P3 Health Partners in the fourth quarter valued at approximately $83,000. XTX Topco Ltd purchased a new stake in P3 Health Partners during the 4th quarter valued at $46,000. Finally, Warberg Asset Management LLC grew its stake in shares of P3 Health Partners by 1,353.5% in the fourth quarter. Warberg Asset Management LLC now owns 145,346 shares of the company’s stock worth $33,000 after purchasing an additional 135,346 shares during the last quarter. 7.75% of the stock is currently owned by hedge funds and other institutional investors.

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.