P3 Health Partners (NASDAQ:PIII) Trading Down 8.5% – Here’s What Happened

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

Wall Street Analyst Weigh In

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

P3 Health Partners Price Performance

The company has a debt-to-equity ratio of 1.11, a current ratio of 0.53 and a quick ratio of 0.53. The firm has a market capitalization of $77.18 million, a P/E ratio of -0.26 and a beta of 1.00. The stock’s fifty day simple moving average is $0.24 and its 200 day simple moving average is $0.40.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Armistice Capital LLC purchased a new position in P3 Health Partners in the 2nd quarter valued at $3,557,000. Trinity Financial Advisors LLC acquired a new position in P3 Health Partners during the fourth quarter worth about $261,000. Geode Capital Management LLC raised its holdings in 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 acquiring an additional 550,925 shares during the last quarter. Finally, Renaissance Technologies LLC boosted its stake in P3 Health Partners by 188.1% during the second quarter. Renaissance Technologies LLC now owns 111,800 shares of the company’s stock worth $50,000 after buying an additional 73,000 shares during the last quarter. 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.