Short Interest in Privia Health Group, Inc. (NASDAQ:PRVA) Expands By 35.1%

Privia Health Group, Inc. (NASDAQ:PRVAGet Rating) saw a large growth in short interest in March. As of March 31st, there was short interest totalling 2,580,000 shares, a growth of 35.1% from the March 15th total of 1,910,000 shares. Approximately 3.2% of the shares of the company are short sold. Based on an average daily trading volume, of 733,600 shares, the days-to-cover ratio is currently 3.5 days.

NASDAQ PRVA opened at $28.21 on Monday. The stock’s 50 day moving average is $25.06 and its 200 day moving average is $24.52. The company has a current ratio of 2.35, a quick ratio of 2.35 and a debt-to-equity ratio of 0.07. Privia Health Group has a 12 month low of $18.93 and a 12 month high of $50.77. The stock has a market cap of $3.05 billion and a PE ratio of -15.50.

Privia Health Group (NASDAQ:PRVAGet Rating) last posted its quarterly earnings results on Wednesday, March 23rd. The company reported ($0.11) EPS for the quarter, topping the Zacks’ consensus estimate of ($0.13) by $0.02. Privia Health Group had a negative return on equity of 54.01% and a negative net margin of 19.48%. On average, analysts forecast that Privia Health Group will post 0.11 EPS for the current fiscal year.

In other Privia Health Group news, EVP Thomas Bartrum sold 10,000 shares of the business’s stock in a transaction dated Monday, March 28th. The stock was sold at an average price of $25.09, for a total transaction of $250,900.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, COO Parth Mehrotra sold 20,000 shares of the business’s stock in a transaction dated Tuesday, February 22nd. The shares were sold at an average price of $25.30, for a total value of $506,000.00. The disclosure for this sale can be found here. Insiders sold a total of 65,288 shares of company stock valued at $1,644,153 over the last quarter.

A number of institutional investors have recently made changes to their positions in PRVA. Royal Bank of Canada purchased a new stake in shares of Privia Health Group during the 2nd quarter worth $74,000. Invesco Ltd. acquired a new position in shares of Privia Health Group in the second quarter valued at about $233,000. Morgan Stanley acquired a new position in shares of Privia Health Group in the second quarter valued at about $13,065,000. Strs Ohio increased its holdings in shares of Privia Health Group by 171.1% in the third quarter. Strs Ohio now owns 12,200 shares of the company’s stock valued at $287,000 after purchasing an additional 7,700 shares during the period. Finally, Vontobel Holding Ltd. acquired a new position in shares of Privia Health Group in the third quarter valued at about $318,000. 53.88% of the stock is currently owned by institutional investors.

A number of equities research analysts have issued reports on the company. Cowen upgraded Privia Health Group from a “market perform” rating to an “outperform” rating and set a $35.00 price target for the company in a research note on Tuesday, February 22nd. SVB Leerink boosted their price target on Privia Health Group from $43.00 to $44.00 and gave the company an “outperform” rating in a research note on Friday, March 25th. Zacks Investment Research upgraded Privia Health Group from a “sell” rating to a “hold” rating in a research note on Friday, March 25th. Canaccord Genuity Group lowered their price objective on Privia Health Group from $50.00 to $44.00 and set a “buy” rating on the stock in a research report on Thursday, March 24th. Finally, Jefferies Financial Group initiated coverage on Privia Health Group in a research report on Monday, January 3rd. They set a “buy” rating and a $33.00 price objective on the stock. One equities research analyst has rated the stock with a hold rating and eleven have issued a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Buy” and an average price target of $41.80.

Privia Health Group Company Profile (Get Rating)

Privia Health Group, Inc operates as a national physician-enablement company in the United States. The company collaborates with medical groups, health plans, and health systems to optimize physician practices, enhance patient experiences, and reward doctors for delivering care in-person and virtual settings.

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