Bright Health Group Inc. (BHG): Technicals Say You should Hold

Bright Health Group Inc. (NYSE:BHG) saw a downside of -0.98% on Friday at $8.08 after subtracting -$0.08. The 5-day average trading volume is 921,607 shares of the company’s common stock. It has gained $8.97 in the past week. An average of 1,418,692 shares of the company has been traded in the last 20 days, and the 50-day average volume stands at 1,611,301.

BHG’s 1-month performance is -11.88% or -$1.59 on its low of $7.92 reached on 10/01/21. The company’s shares have touched a 52-week low of $7.98 and high of $17.93. YTD, BHG has lost -50.96%. However, the current price is down -54.94%% from the 52-week high price.

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Valuation Metrics

Bright Health Group Inc. (BHG) has a trailing price-to-earnings (P/E) ratio of 20.58 for the broader industry and 32.32 for the sector, meaning that investors are optimistic about the stock’s future prospects. BHG stock has a beta of 0.00. Moving on to other valuation ratios, the trailing price-to-sales (P/S) ratio is 1.95 while the price-to-book (PB) in the most recent quarter is 2.37.

As well, the company’s long term debt to equity for the quarter ending June 29 was 0.00, while the total debt to equity was 0.00. The firm’s gross profit as reported stood at $160.02 million against revenue of $1.21 billion.

The effectiveness of a company’s management is also important for investors when it comes to determining the potential profitability of the investment. Return on investment over the past year is 49.30%. In comparison, the average ROE for the broader industry over the past year is 9.78.

Earnings Surprise

For the quarterly period ending June 29 this year, Analysts expected BHG to announce -$0.16 per share in earnings in its latest quarter, but it posted -$0.28, representing a -75.00% surprise. EBITDA for the quarter stood at more than -$59.05 million. BHG stock balance sheet for the quarter ending June 29 shows that total liabilities totaled 1.45 billion. Shareholders hold equity totaling $630.22 million

Technical Picture

Let’s look briefly at Bright Health Group Inc. (BHG) price momentum from a technical analysis perspective. The 9-day relative strength index as at close on 30 September was 25.52% to suggest the stock is trending oversold, with historical volatility in this time period at 29.54%.

The stock’s 5-day moving average is $8.38, reflecting a -7.34% or -$0.63 change from its current price. BHG is currently trading -17.46% above its 20-day SMA. However, the stock’s current price level is away from the SMA50 by -37.72%.

Stochastic %K and %D was 5.23% and 7.96% and the average true range (ATR) pointed at 0.45. The RSI (14) points at 31.40%, while the 14-day stochastic is at 3.80% with the period’s ATR at 0.50. The stock’s 9-day MACD Oscillator is pointing at -0.43 and -0.85 on the 14-day charts.

Analyst Ratings

In the most recent analyst report for Bright Health Group Inc. (NYSE: BHG), Cowen launched coverage with an Outperform rating. Analysts offering their rating for BHG stock have a consensus rating for the stock as Overweight. Currently, 0 brokerage advisors rate BHG as a “sell,”, while 2 advise that investors “Hold.” 0 analysts have rated the stock as underweight. 1 rates the stock as overweight while 7 have offered a “buy” rating.

What is BHG’s price target for the next 12 months?

Analysts have a consensus price target ranging from a low of $11.00 and a high of $24.00, with their median price target at $15.00. Looking at these predictions, the average price target given by analysts is for Bright Health Group Inc. (BHG) stock is $16.20.


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