P3 Health Partners (NASDAQ:PIII) Trading Down 8.5% – Time to Sell?

P3 Health Partners Inc. (NASDAQ:PIII)’s share price dropped 8.5% on Thursday . The stock traded as low as $0.22 and last traded at $0.22. Approximately 307,022 shares traded hands during trading, a decline of 37% from the average daily volume of 488,401 shares. The stock had previously closed at $0.24.

Wall Street Analysts Forecast Growth

Separately, TD Cowen cut their target price on shares of 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 Price Performance

The stock has a fifty day moving average of $0.24 and a 200-day moving average of $0.40. The firm has a market capitalization of $79.59 million, a P/E ratio of -0.26 and a beta of 1.00. The company has a quick ratio of 0.53, a current ratio of 0.53 and a debt-to-equity ratio of 1.11.

Hedge Funds Weigh In On P3 Health Partners

A number of institutional investors have recently modified their holdings of PIII. Renaissance Technologies LLC increased its holdings in shares of 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 purchasing an additional 73,000 shares in the last quarter. Geode Capital Management LLC boosted its position in P3 Health Partners by 115.2% in the 3rd quarter. Geode Capital Management LLC now owns 1,029,259 shares of the company’s stock valued at $398,000 after buying an additional 550,925 shares during the last quarter. Finally, Armistice Capital LLC bought a new stake in shares of P3 Health Partners during the second quarter worth $3,557,000. 7.75% of the stock is owned by institutional investors.

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.