Oscar Health (NYSE:OSCR) Shares Gap Down – Here’s Why

Shares of Oscar Health, Inc. (NYSE:OSCR) gapped down before the market opened on Wednesday . The stock had previously closed at $18.34, but opened at $15.79. Oscar Health shares last traded at $16.69, with a volume of 1,906,952 shares.

Analyst Ratings Changes

A number of research firms have recently weighed in on OSCR. Bank of America cut Oscar Health from a “neutral” rating to an “underperform” rating and lowered their price objective for the stock from $21.00 to $13.50 in a research report on Wednesday. Piper Sandler reissued an “overweight” rating and issued a $28.00 price target on shares of Oscar Health in a report on Tuesday, September 10th. Finally, UBS Group initiated coverage on shares of Oscar Health in a report on Monday, October 7th. They set a “neutral” rating and a $23.00 price objective on the stock. One analyst has rated the stock with a sell rating, two have given a hold rating, four have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $22.93.

Oscar Health Stock Down 15.3 %

The company has a debt-to-equity ratio of 0.26, a current ratio of 0.91 and a quick ratio of 0.91. The firm has a market capitalization of $3.76 billion, a price-to-earnings ratio of -119.61, a price-to-earnings-growth ratio of 35.84 and a beta of 1.67. The business has a fifty day moving average price of $18.75 and a two-hundred day moving average price of $18.45.

Oscar Health (NYSE:OSCR) last posted its quarterly earnings results on Wednesday, August 7th. The company reported $0.20 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.16 by $0.04. The company had revenue of $2.20 billion during the quarter, compared to analyst estimates of $2.13 billion. Oscar Health had a net margin of 0.25% and a return on equity of 1.86%. Oscar Health’s revenue for the quarter was up 44.6% compared to the same quarter last year. During the same period last year, the firm posted ($0.07) EPS. On average, equities analysts expect that Oscar Health, Inc. will post 0.01 earnings per share for the current year.

Insider Buying and Selling

In other Oscar Health news, EVP Alessandrea C. Quane sold 16,793 shares of the company’s stock in a transaction on Friday, September 6th. The shares were sold at an average price of $17.06, for a total value of $286,488.58. Following the sale, the executive vice president now directly owns 392,607 shares of the company’s stock, valued at approximately $6,697,875.42. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other news, insider Mario Schlosser sold 3,198 shares of the firm’s stock in a transaction that occurred on Tuesday, September 3rd. The shares were sold at an average price of $17.99, for a total transaction of $57,532.02. Following the sale, the insider now owns 76,982 shares of the company’s stock, valued at $1,384,906.18. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, EVP Alessandrea C. Quane sold 16,793 shares of the business’s stock in a transaction on Friday, September 6th. The shares were sold at an average price of $17.06, for a total transaction of $286,488.58. Following the completion of the transaction, the executive vice president now owns 392,607 shares of the company’s stock, valued at approximately $6,697,875.42. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 169,569 shares of company stock valued at $3,007,069 over the last 90 days. Insiders own 25.11% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of the company. Quantbot Technologies LP increased its position in shares of Oscar Health by 435.5% in the first quarter. Quantbot Technologies LP now owns 14,495 shares of the company’s stock valued at $216,000 after buying an additional 11,788 shares in the last quarter. Oppenheimer & Co. Inc. raised its position in Oscar Health by 20.8% during the first quarter. Oppenheimer & Co. Inc. now owns 19,450 shares of the company’s stock worth $289,000 after acquiring an additional 3,350 shares during the period. Avalon Trust Co purchased a new position in Oscar Health during the first quarter valued at $69,000. Swiss National Bank grew its position in shares of Oscar Health by 2.4% in the first quarter. Swiss National Bank now owns 263,800 shares of the company’s stock valued at $3,923,000 after purchasing an additional 6,100 shares during the period. Finally, Susquehanna Fundamental Investments LLC increased its stake in shares of Oscar Health by 14.9% during the first quarter. Susquehanna Fundamental Investments LLC now owns 51,780 shares of the company’s stock worth $770,000 after purchasing an additional 6,733 shares in the last quarter. Institutional investors and hedge funds own 75.70% of the company’s stock.

About Oscar Health

Oscar Health, Inc operates as a health insurance in the United States. The company offers health plans in individual and small group markets, as well as +Oscar, a technology driven platform that help providers and payors directly enable their shift to value-based care. It also provides reinsurance products.