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Bright Health Group Inc. (NYSE:BHG) Could Shrink By -67.15% Or More

In last trading session, Bright Health Group Inc. (NYSE:BHG) saw 1.71 million shares changing hands with its beta currently measuring 0. Company’s recent per share price level of $1.13 trading at -$0.05 or -4.24% at ring of the bell on the day assigns it a market valuation of $783.71M. That closing price of BHG’s stock is at a discount of -747.79% from its 52-week high price of $9.58 and from its 52-week low price of $1.13. Taking a look at company’s average trading volume for last 10-days demonstrates a volume of 3.1 million shares which gives us an average trading volume of 1.76 million if we extend that period to 3-months.

For Bright Health Group Inc. (BHG), analysts’ consensus is at an average recommendation of a Hold while assigning it a mean rating of 3.10. Splitting up the data highlights that, out of 10 analysts covering the stock, 1 rated the stock as a Sell while 1 recommended an Overweight rating for the stock. 7 suggested the stock as a Hold whereas 0 see the stock as a Buy. 1 analyst(s) advised it as an Underweight. The company is expected to be making an EPS of -$0.32 in the current quarter.

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Bright Health Group Inc. (NYSE:BHG) trade information

Upright in the red during last session for losing -4.24%, in the last five days BHG remained trading in the red while hitting it’s week-highest on Friday, 09/16/22 when the stock touched $1.13 price level, adding 24.67% to its value on the day. Bright Health Group Inc.’s shares saw a change of -67.15% in year-to-date performance and have moved -25.66% in past 5-day. Bright Health Group Inc. (NYSE:BHG) showed a performance of -32.34% in past 30-days. Number of shares sold short was 11.33 million shares which calculate 6.07 days to cover the short interests.

Wall Street analysts have assigned a consensus price target of $2.43 to the stock, which implies a rise of 53.5% to its current value. Analysts have been projecting $1.20 as a low price target for the stock while placing it at a high target of $4.00. It follows that stock’s current price would drop -253.98% in reaching the projected high whereas dropping to the targeted low would mean a loss of -6.19% for stock’s current value.

Bright Health Group Inc. (BHG) estimates and forecasts

Statistics highlight that Bright Health Group Inc. is scoring comparatively higher than the scores of other players of the relevant industry. The company lost -49.55% of value to its shares in past 6 months, showing an annual growth rate of 41.72% while that of industry is 4.10. Apart from that, the company came raising its revenue forecast for fiscal year 2022. The company is estimating its revenue growth to decrease by -14.30% in the current quarter and calculating 20.80% increase in the next quarter. This year revenue growth is estimated to rise 75.90% from the last financial year’s standing.

6 industry analysts have given their estimates about the company’s current quarter revenue by setting an average figure of $1.81 billion for the same. And 6 analysts are in estimates of company making revenue of $1.75 billion in the next quarter that will end on Sep 2022. Company posted $1.11 billion and $1.08 billion of sales in current and next quarters respectively a year earlier. Analysts are expecting this quarter sales to grow by 62.80% while estimating it to be 62.70% for the next quarter.

In 2022, company’s earnings growth rate is likely to be around -648.20% while estimates for its earnings growth in next 5 years are of 40.20%.

BHG Dividends

Bright Health Group Inc. is more likely to be releasing its next quarterly report on November 11 and investors are confident in the company announcing better current-quarter dividends despite the fact that it has been facing issues arising out of mounting debt.

Bright Health Group Inc. (NYSE:BHG)’s Major holders

Insiders are in possession of 5.77% of company’s total shares while institution are holding 69.04 percent of that, with stock having share float percentage of 73.26%. Investors also watch the number of corporate investors in a company very closely, which is 69.04% institutions for Bright Health Group Inc. that are currently holding shares of the company. NEA Management Company, LLC is the top institutional holder at BHG for having 218.21 million shares of worth $421.15 million. And as of Mar 30, 2022, it was holding 34.68% of the company’s outstanding shares.

The second largest institutional holder is Deer Management Co. LLC, which was holding about 79.31 million shares on Mar 30, 2022. The number of shares represents firm’s hold over 12.60% of outstanding shares, having a total worth of $153.07 million.

On the other hand, Vanguard Total Stock Market Index Fund and iShares Russell 2000 ETF are the top two Mutual Funds which own company’s shares. As of Mar 30, 2022, the former fund manager was holding 6.56 million shares of worth $12.66 million or 1.04% of the total outstanding shares. The later fund manager was in possession of 4.75 million shares on Jun 29, 2022, making its stake of worth around $8.64 million in the company or a holder of 0.75% of company’s stock.

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