Short Interest in Privia Health Group, Inc. (NASDAQ:PRVA) Drops By 34.9%

Privia Health Group, Inc. (NASDAQ:PRVAGet Rating) saw a large drop in short interest in April. As of April 15th, there was short interest totalling 1,680,000 shares, a drop of 34.9% from the March 31st total of 2,580,000 shares. Based on an average daily volume of 715,500 shares, the short-interest ratio is currently 2.3 days. Approximately 2.1% of the company’s stock are short sold.

Shares of PRVA stock opened at $21.99 on Friday. The stock has a 50 day moving average of $25.49 and a two-hundred day moving average of $24.73. 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.

Privia Health Group (NASDAQ:PRVAGet Rating) last posted its earnings results on Tuesday, March 22nd. The company reported ($0.12) EPS for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.29) by $0.17. The business had revenue of $275.33 million during the quarter, compared to the consensus estimate of $226.06 million. Privia Health Group had a negative return on equity of 54.01% and a negative net margin of 19.48%. On average, equities analysts anticipate that Privia Health Group will post 0.11 earnings per share for the current fiscal year.

A number of research analysts have recently commented on PRVA shares. Jefferies Financial Group assumed coverage on Privia Health Group in a report on Monday, January 3rd. They set a “buy” rating and a $33.00 price objective on the stock. SVB Leerink raised their target price on Privia Health Group from $43.00 to $44.00 and gave the company an “outperform” rating in a report on Friday, March 25th. Guggenheim assumed coverage on Privia Health Group in a report on Tuesday, March 29th. They issued a “buy” rating and a $35.00 target price on the stock. Cowen raised Privia Health Group from a “market perform” rating to an “outperform” rating and set a $35.00 target price on the stock in a report on Tuesday, February 22nd. Finally, Zacks Investment Research raised Privia Health Group from a “sell” rating to a “hold” rating in a report on Friday, March 25th. One equities research analyst has rated the stock with a hold rating and twelve have given a buy rating to the company. According to MarketBeat.com, Privia Health Group presently has an average rating of “Buy” and an average price target of $41.18.

In other news, EVP Thomas Bartrum sold 10,000 shares of the stock in a transaction dated Tuesday, February 22nd. The stock was sold at an average price of $25.32, for a total transaction of $253,200.00. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, COO Parth Mehrotra sold 20,000 shares of the 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 have sold a total of 95,288 shares of company stock valued at $2,482,053 over the last ninety days.

Institutional investors have recently bought and sold shares of the stock. Rockefeller Capital Management L.P. bought a new position in shares of Privia Health Group during the 4th quarter worth approximately $25,000. First Horizon Advisors Inc. bought a new position in shares of Privia Health Group during the 4th quarter worth approximately $26,000. FourThought Financial LLC bought a new position in shares of Privia Health Group during the 3rd quarter worth approximately $32,000. Gleason Group Inc. bought a new position in shares of Privia Health Group during the 1st quarter worth approximately $57,000. Finally, Fifth Third Bancorp bought a new position in shares of Privia Health Group during the 4th quarter worth approximately $68,000. Institutional investors and hedge funds own 53.88% of the company’s stock.

About Privia Health Group (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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