Bright Health Group Inc. [BHG] Revenue clocked in at $1.88 billion, down -43.33% YTD: What’s Next?

Bright Health Group Inc. [NYSE: BHG] surged by $0.94 during the normal trading session on Wednesday and reaching a high of $9.6399 during the day while it closed the day at $9.43. The company report on August 3, 2021 that Bright Health Group Reports Second Quarter 2021 Results.

Total GAAP Revenues of $1,114 million grew 275% from $297 million in Q2’20.

Bright HealthCare Membership of 662,825, up 220% from 207,224 in Q2’20.

The market cap for BHG stock reached $6.09 billion, with 645.36 million shares outstanding and 585.67 million shares in the current float. Compared to the average trading volume of 1.94M shares, BHG reached a trading volume of 6725209 in the most recent trading day, which is why market watchdogs consider the stock to be active.

Here’s what leading stock market gurus have to say about Bright Health Group Inc. [BHG]:

Morgan Stanley have made an estimate for Bright Health Group Inc. shares, keeping their opinion on the stock as Overweight, with their previous recommendation back on August 04, 2021. While these analysts kept the previous recommendation, Citigroup dropped their target price from $16 to $12. The new note on the price target was released on August 04, 2021, representing the official price target for Bright Health Group Inc. stock. Previously, the target price had yet another raise to $15, while Wolfe Research analysts kept a Peer Perform rating on BHG stock.

The Average True Range (ATR) for Bright Health Group Inc. is set at 1.00, with the Price to Sales ratio for BHG stock in the period of the last 12 months amounting to 3.23.

BHG stock trade performance evaluation

Bright Health Group Inc. [BHG] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -23.02.

Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for BHG stock in for the last two-week period is set at 24.00, with the RSI for the last a single of trading hit 23.93, and the three-weeks RSI is set at 23.62 for Bright Health Group Inc. [BHG], while it was recorded at 10.31 for the last single week of trading.

Bright Health Group Inc. [BHG]: An insightful look at the core fundamentals

Bright Health Group Inc. [BHG]: Insider Ownership positions

There are presently around $2,058 million, or 59.60% of BHG stock, in the hands of institutional investors. The top three institutional holders of BHG stocks are: NEA MANAGEMENT COMPANY, LLC with ownership of 218,212,128, which is approximately New of the company’s market cap and around 1.20% of the total institutional ownership; GWM ADVISORS LLC, holding 11,145 shares of the stock with an approximate value of $0.1 million in BHG stocks shares; and ADVISOR GROUP HOLDINGS, INC., currently with $16000.0 in BHG stock with ownership of nearly New of the company’s market capitalization.

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5 institutional holders increased their position in Bright Health Group Inc. [NYSE:BHG] by around 218,226,171 shares. Additionally, 0 investors decreased positions by around 0 shares, while 0 investors held positions by with 0 shares. The mentioned changes placed institutional holdings at 218,226,171 shares, according to the latest SEC report filing. BHG stock had 5 new institutional investments in for a total of 218,226,171 shares, while 0 institutional investors sold positions of 0 shares during the same period.

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