Oscar Health, Inc. (NYSE:OSCR) Sees Large Decrease in Short Interest

Oscar Health, Inc. (NYSE:OSCR) was the target of a significant decline in short interest in August. As of August 31st, there was short interest totalling 4,730,000 shares, a decline of 26.7% from the August 15th total of 6,450,000 shares. Approximately 8.2% of the company’s stock are short sold. Based on an average daily volume of 1,070,000 shares, the days-to-cover ratio is currently 4.4 days.

Oscar Health stock traded down $0.35 during mid-day trading on Monday, hitting $17.15. The company had a trading volume of 1,695,389 shares, compared to its average volume of 1,175,142. Oscar Health has a 12-month low of $12.06 and a 12-month high of $37.00. The company’s fifty day moving average is $16.49 and its 200-day moving average is $22.18.

Oscar Health (NYSE:OSCR) last announced its earnings results on Thursday, August 12th. The company reported ($0.35) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.47) by $0.12. The business had revenue of $529.28 million for the quarter. On average, equities research analysts forecast that Oscar Health will post -2.75 EPS for the current year.

In other Oscar Health news, Vice Chairman Joshua Kushner purchased 515,344 shares of the business’s stock in a transaction that occurred on Tuesday, September 14th. The shares were bought at an average price of $18.10 per share, for a total transaction of $9,327,726.40. The acquisition was disclosed in a filing with the SEC, which is available at the SEC website. Also, major shareholder Thrive Partners Vii Growth Gp, purchased 1,074,342 shares of the business’s stock in a transaction that occurred on Tuesday, August 24th. The stock was acquired at an average price of $12.69 per share, for a total transaction of $13,633,399.98. The disclosure for this purchase can be found here. Insiders acquired 4,395,078 shares of company stock valued at $67,705,733 over the last quarter.

Several large investors have recently made changes to their positions in OSCR. HBK Investments L P purchased a new position in Oscar Health in the 1st quarter valued at $2,801,000. Schonfeld Strategic Advisors LLC purchased a new position in Oscar Health in the 1st quarter valued at $1,075,000. Scge Management L.P. purchased a new position in Oscar Health in the 1st quarter valued at $1,075,000. Dragoneer Investment Group LLC purchased a new position in Oscar Health in the 1st quarter valued at $68,378,000. Finally, Caas Capital Management LP purchased a new position in Oscar Health in the 1st quarter valued at $5,376,000. Hedge funds and other institutional investors own 69.17% of the company’s stock.

Several equities analysts recently weighed in on the stock. Morgan Stanley cut their price target on shares of Oscar Health from $44.00 to $26.00 and set an “overweight” rating on the stock in a report on Tuesday, August 31st. Credit Suisse Group increased their price target on shares of Oscar Health from $26.00 to $34.00 and gave the stock an “outperform” rating in a report on Monday. Wells Fargo & Company cut their price target on shares of Oscar Health from $37.00 to $30.00 and set an “overweight” rating on the stock in a report on Friday, August 13th. Zacks Investment Research upgraded Oscar Health from a “sell” rating to a “hold” rating in a research report on Thursday, July 15th. Finally, Cowen began coverage on Oscar Health in a research report on Thursday, September 9th. They issued a “market perform” rating and a $15.00 price objective on the stock. Two investment analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to data from MarketBeat.com, Oscar Health currently has an average rating of “Buy” and an average price target of $31.33.

About Oscar Health

Oscar Health, Inc provides health insurance products and services to individuals, families, and businesses in the United States. The company was formerly known as Mulberry Health Inc and changed its name to Oscar Health, Inc in January 2021. Oscar Health, Inc was founded in 2012 and is headquartered in New York, New York.

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