Bright Health Group Inc. [BHG] Stock trading around $3.21 per share: What’s Next?



Bright Health Group Inc. [NYSE: BHG] jumped around 0.12 points on Tuesday, while shares priced at $3.21 at the close of the session, up 3.88%. The company report on January 10, 2022 that Bright Health Group Increases Bright HealthCare Membership Guidance for 2022.

Now Serving Over 1 Million Health Plan Lives.

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Bright Health Group, Inc. (“Bright Health Group,” the “Company,” “we,” or “our”) (NYSE: BHG), the first technology-enabled fully aligned system of care, built for healthcare’s consumer retail market, today announced its updated 2022 Bright HealthCare AEP/OEP Membership guidance of over 1 million lives across its Commercial and Medicare lines of business. The increased membership projection reflects better than expected retention and growth in core markets during open enrollment, including in Florida, North Carolina, and Texas.

Bright Health Group Inc. stock is now -6.69% down from its year-to-date (YTD) trading value. BHG Stock saw the intraday high of $3.28 and lowest of $3.04 per share. The company’s 52-week high price is 17.93, which means current price is +13.83% above from all time high which was touched on 01/03/22.

Compared to the average trading volume of 3.67M shares, BHG reached a trading volume of 4871429 in the most recent trading day, which is why market watchdogs consider the stock to be active.

What do top market gurus say about Bright Health Group Inc. [BHG]?

Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for BHG shares is $6.95 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on BHG stock is a recommendation set at 2.50. This rating represents a strong Buy recommendation, on the scale from 1 to 5, where 5 would mean strong sell, 4 represents Sell, 3 is Hold, and 2 indicates Buy.

Citigroup have made an estimate for Bright Health Group Inc. shares, keeping their opinion on the stock as Neutral, with their previous recommendation back on January 10, 2022. While these analysts kept the previous recommendation, Morgan Stanley dropped their target price from $5 to $4. The new note on the price target was released on December 16, 2021, representing the official price target for Bright Health Group Inc. stock. Previously, the target price had yet another raise to $5, while Goldman analysts kept a Neutral rating on BHG stock.

The Average True Range (ATR) for Bright Health Group Inc. is set at 0.31, with the Price to Sales ratio for BHG stock in the period of the last 12 months amounting to 0.61. The Price to Book ratio for the last quarter was 1.05, with the Price to Cash per share for the same quarter was set at 1.46.

How has BHG stock performed recently?

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 -8.29. With this latest performance, BHG shares dropped by -26.21% in over the last four-week period, additionally sinking by -79.91% over the last 6 months .

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 39.46, with the RSI for the last a single of trading hit 41.65, and the three-weeks RSI is set at 37.83 for Bright Health Group Inc. [BHG]. The present Moving Average for the last 50 days of trading for this stock 4.40, while it was recorded at 3.11 for the last single week of trading.

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Insider trade positions for Bright Health Group Inc. [BHG]

There are presently around $1,455 million, or 65.80% 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 0% of the company’s market cap and around 0.10% of the total institutional ownership; DEER IX & CO. LTD., holding 64,646,937 shares of the stock with an approximate value of $207.52 million in BHG stocks shares; and STEPSTONE GROUP LP, currently with $143.33 million in BHG stock with ownership of nearly New of the company’s market capitalization.

80 institutional holders increased their position in Bright Health Group Inc. [NYSE:BHG] by around 105,418,605 shares. Additionally, 44 investors decreased positions by around 19,638,641 shares, while 10 investors held positions by with 328,251,242 shares. The mentioned changes placed institutional holdings at 453,308,488 shares, according to the latest SEC report filing. BHG stock had 62 new institutional investments in for a total of 102,433,464 shares, while 33 institutional investors sold positions of 11,898,824 shares during the same period.