P3 Health Partners Inc. (NASDAQ:PIII) Sees Large Decline in Short Interest

P3 Health Partners Inc. (NASDAQ:PIII) was the recipient of a significant decline in short interest during the month of November. As of November 30th, there was short interest totalling 818,000 shares, a decline of 19.8% from the November 15th total of 1,020,000 shares. Based on an average trading volume of 739,600 shares, the short-interest ratio is currently 1.1 days. Currently, 0.9% of the shares of the stock are short sold.

P3 Health Partners Trading Down 3.9 %

NASDAQ:PIII traded down $0.01 during mid-day trading on Monday, hitting $0.20. 371,865 shares of the company’s stock were exchanged, compared to its average volume of 469,347. The company has a current ratio of 0.53, a quick ratio of 0.53 and a debt-to-equity ratio of 1.11. P3 Health Partners has a fifty-two week low of $0.19 and a fifty-two week high of $1.78. The company has a 50 day simple moving average of $0.31 and a 200-day simple moving average of $0.45. The firm has a market capitalization of $70.72 million, a P/E ratio of -0.24 and a beta of 0.98.

Hedge Funds Weigh In On P3 Health Partners

A number of hedge funds and other institutional investors have recently made changes to their positions in PIII. Renaissance Technologies LLC lifted its stake in P3 Health Partners by 188.1% in the second quarter. Renaissance Technologies LLC now owns 111,800 shares of the company’s stock valued at $50,000 after buying an additional 73,000 shares during the period. Geode Capital Management LLC lifted its position in shares of P3 Health Partners by 115.2% during 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 period. Emfo LLC boosted its stake in P3 Health Partners by 39.8% during the second quarter. Emfo LLC now owns 1,427,689 shares of the company’s stock worth $643,000 after acquiring an additional 406,418 shares in the last quarter. Finally, Armistice Capital LLC bought a new position in P3 Health Partners during the second quarter worth $3,557,000. 7.75% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Separately, TD Cowen dropped their price target 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 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.