Short Interest in P3 Health Partners Inc. (NASDAQ:PIII) Declines By 51.3%

P3 Health Partners Inc. (NASDAQ:PIII) saw a significant drop in short interest in the month of May. As of May 29th, there was short interest totaling 138,133 shares, a drop of 51.3% from the May 14th total of 283,541 shares. Based on an average daily volume of 1,072,122 shares, the days-to-cover ratio is presently 0.1 days. Approximately 2.3% of the shares of the company are sold short.

P3 Health Partners Stock Performance

NASDAQ:PIII traded down $1.33 on Friday, hitting $12.23. 52,690 shares of the stock were exchanged, compared to its average volume of 3,826,535. The stock has a market capitalization of $88.55 million, a price-to-earnings ratio of -0.32 and a beta of 1.60. P3 Health Partners has a 52 week low of $1.52 and a 52 week high of $16.89. The company’s 50-day moving average price is $6.88 and its 200 day moving average price is $4.53.

P3 Health Partners (NASDAQ:PIII) last posted its earnings results on Thursday, May 14th. The company reported $0.32 earnings per share (EPS) for the quarter, topping the consensus estimate of ($4.85) by $5.17. The company had revenue of $386.39 million during the quarter, compared to analyst estimates of $391.45 million. P3 Health Partners had a negative return on equity of 302.33% and a negative net margin of 8.57%.

Analyst Ratings Changes

A number of research firms have recently commented on PIII. Lake Street Capital reissued a “buy” rating and issued a $14.00 price target (up from $4.00) on shares of P3 Health Partners in a research report on Friday, May 15th. Weiss Ratings upgraded shares of P3 Health Partners from a “sell (e+)” rating to a “sell (d-)” rating in a research note on Thursday, May 28th. UBS Group set a $14.00 price objective on shares of P3 Health Partners in a research note on Friday, May 15th. Finally, TD Cowen restated a “hold” rating and issued a $14.00 price objective (up from $3.00) on shares of P3 Health Partners in a research note on Friday, May 22nd. One analyst has rated the stock with a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $14.00.

Hedge Funds Weigh In On P3 Health Partners

A hedge fund recently bought a new stake in P3 Health Partners stock. Diversified Trust Co acquired a new stake in P3 Health Partners Inc. (NASDAQ:PIII) in the 1st quarter, according to its most recent filing with the SEC. The fund acquired 20,316 shares of the company’s stock, valued at approximately $63,000. Diversified Trust Co owned 0.28% of P3 Health Partners as of its most recent filing with the SEC. Hedge funds and other institutional investors own 7.75% of the company’s stock.

About P3 Health Partners

P3 Health Partners is a healthcare technology and services company that delivers data-driven solutions to support health plans in improving quality measures, risk adjustment accuracy and operational efficiency. The company’s platform integrates advanced analytics, reporting capabilities and workflow automation to help clients optimize performance across value-based care programs and regulatory requirements.

The company’s core offerings include quality measurement and reporting for HEDIS, STAR and other performance frameworks, risk adjustment coding and audit services, and population health analytics.