P3 Health Partners Inc. (NASDAQ:PIII) Sees Significant Drop in Short Interest

P3 Health Partners Inc. (NASDAQ:PIII) saw a significant drop in short interest during the month of October. As of October 31st, there was short interest totalling 957,100 shares, a drop of 23.4% from the October 15th total of 1,250,000 shares. Based on an average daily volume of 657,700 shares, the days-to-cover ratio is currently 1.5 days. Currently, 1.4% of the company’s shares are short sold.

Insider Buying and Selling

In related news, major shareholder Pacific Founders Ugp I. Chicago acquired 80,000 shares of the stock in a transaction on Friday, September 13th. The stock was acquired at an average cost of $0.50 per share, for a total transaction of $40,000.00. Following the completion of the acquisition, the insider now directly owns 77,185,438 shares of the company’s stock, valued at approximately $38,592,719. This represents a 0.10 % increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders have acquired 400,000 shares of company stock valued at $205,600 over the last ninety days. 17.86% of the stock is owned by insiders.

Institutional Investors Weigh In On P3 Health Partners

Several hedge funds have recently added to or reduced their stakes in the stock. Renaissance Technologies LLC increased its holdings in shares of P3 Health Partners by 188.1% during the second quarter. Renaissance Technologies LLC now owns 111,800 shares of the company’s stock valued at $50,000 after acquiring an additional 73,000 shares in the last quarter. Sanders Morris Harris LLC lifted its stake in shares of P3 Health Partners by 16.3% in the second quarter. Sanders Morris Harris LLC now owns 142,998 shares of the company’s stock worth $64,000 after buying an additional 20,000 shares in the last quarter. Geode Capital Management LLC increased its position in shares of P3 Health Partners by 115.2% during the third 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 in the last quarter. Emfo LLC raised its holdings in P3 Health Partners by 39.8% in the 2nd quarter. Emfo LLC now owns 1,427,689 shares of the company’s stock worth $643,000 after acquiring an additional 406,418 shares during the last quarter. Finally, Armistice Capital LLC bought a new position in P3 Health Partners in the 2nd quarter valued at approximately $3,557,000. 7.75% of the stock is owned by institutional investors.

P3 Health Partners Stock Performance

Shares of PIII stock traded up $0.02 during trading hours on Friday, hitting $0.23. 887,485 shares of the company’s stock traded hands, compared to its average volume of 628,607. The company has a debt-to-equity ratio of 1.11, a current ratio of 0.53 and a quick ratio of 0.69. The stock’s fifty day simple moving average is $0.40 and its two-hundred day simple moving average is $0.51. P3 Health Partners has a 12-month low of $0.20 and a 12-month high of $1.78.

P3 Health Partners Company Profile

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.