Oscar Health (NYSE:OSCR) Sees Large Volume Increase – Here’s Why

Oscar Health, Inc. (NYSE:OSCR) saw unusually-high trading volume on Wednesday . Approximately 4,541,314 shares traded hands during mid-day trading, an increase of 36% from the previous session’s volume of 3,346,029 shares.The stock last traded at $15.44 and had previously closed at $15.28.

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on the company. Jefferies Financial Group assumed coverage on Oscar Health in a report on Tuesday, December 10th. They issued an “underperform” rating and a $12.00 target price for the company. Bank of America lowered shares of Oscar Health from a “neutral” rating to an “underperform” rating and dropped their price objective for the stock from $21.00 to $13.50 in a research note on Wednesday, November 6th. Two equities research analysts have rated the stock with a sell rating, two have assigned a hold rating, four have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, Oscar Health has an average rating of “Hold” and a consensus price target of $21.56.

Oscar Health Trading Down 0.4 %

The business’s 50-day simple moving average is $15.14 and its two-hundred day simple moving average is $16.83. The company has a quick ratio of 0.73, a current ratio of 0.73 and a debt-to-equity ratio of 0.26. The firm has a market capitalization of $3.64 billion, a price-to-earnings ratio of -245.21, a PEG ratio of 0.67 and a beta of 1.73.

Oscar Health (NYSE:OSCR) last issued its quarterly earnings results on Tuesday, February 4th. The company reported ($0.62) EPS for the quarter, missing the consensus estimate of ($0.55) by ($0.07). Oscar Health had a net margin of 0.35% and a return on equity of 2.79%. Equities analysts forecast that Oscar Health, Inc. will post -0.01 earnings per share for the current year.

Insiders Place Their Bets

In other Oscar Health news, Director Thrive Partners Vii Growth Gp, bought 420,819 shares of Oscar Health stock in a transaction dated Tuesday, November 12th. The stock was acquired at an average cost of $13.68 per share, with a total value of $5,756,803.92. Following the completion of the acquisition, the director now owns 5,452,081 shares of the company’s stock, valued at approximately $74,584,468.08. This represents a 8.36 % increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Vice Chairman Joshua Kushner acquired 358,619 shares of Oscar Health stock in a transaction on Wednesday, November 13th. The shares were bought at an average cost of $13.74 per share, with a total value of $4,927,425.06. Following the completion of the purchase, the insider now owns 5,810,700 shares in the company, valued at $79,839,018. The trade was a 6.58 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Over the last quarter, insiders have purchased 1,055,478 shares of company stock valued at $14,432,852 and have sold 103,610 shares valued at $1,847,519. 25.11% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Oscar Health

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Creative Planning grew its holdings in shares of Oscar Health by 75.3% during the second quarter. Creative Planning now owns 18,010 shares of the company’s stock worth $285,000 after buying an additional 7,736 shares in the last quarter. Inspire Investing LLC acquired a new stake in Oscar Health during the third quarter worth approximately $780,000. nVerses Capital LLC grew its stake in Oscar Health by 36.1% in the 3rd quarter. nVerses Capital LLC now owns 18,100 shares of the company’s stock worth $384,000 after acquiring an additional 4,800 shares during the period. Optimum Investment Advisors acquired a new position in Oscar Health in the 3rd quarter valued at $142,000. Finally, Allspring Global Investments Holdings LLC lifted its stake in shares of Oscar Health by 1.7% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 109,074 shares of the company’s stock worth $2,313,000 after purchasing an additional 1,866 shares during the period. 75.70% of the stock is owned by institutional investors and hedge funds.

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.