GoHealth (NASDAQ:GOCO) Stock Price Down 2.3% – Here’s What Happened

GoHealth, Inc. (NASDAQ:GOCO) was down 2.3% during mid-day trading on Wednesday . The company traded as low as $0.29 and last traded at $0.2980. 2,704,303 shares were traded during trading, an increase of 195% from the average session volume of 916,731 shares. The stock had previously closed at $0.3050.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on GOCO. Weiss Ratings restated a “sell (e+)” rating on shares of GoHealth in a research report on Friday, April 24th. Noble Financial raised GoHealth to a “strong-buy” rating in a research report on Wednesday, April 1st. Finally, Freedom Capital downgraded GoHealth from a “strong-buy” rating to a “hold” rating in a research note on Monday, April 6th. One investment analyst has rated the stock with a Strong Buy rating, three have given a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, GoHealth has an average rating of “Hold” and an average price target of $5.00.

GoHealth Stock Performance

The company has a market cap of $8.60 million, a PE ratio of -0.01 and a beta of 1.19. The stock’s 50-day simple moving average is $0.82 and its 200 day simple moving average is $1.63.

GoHealth (NASDAQ:GOCO) last released its earnings results on Monday, May 18th. The company reported ($2.36) EPS for the quarter, topping the consensus estimate of ($2.40) by $0.04. GoHealth had a negative net margin of 189.73% and a negative return on equity of 402.70%. The company had revenue of $11.91 million during the quarter, compared to analysts’ expectations of $16.90 million. On average, sell-side analysts predict that GoHealth, Inc. will post -9.19 EPS for the current fiscal year.

Institutional Investors Weigh In On GoHealth

A number of institutional investors have recently added to or reduced their stakes in GOCO. Redwood Capital Management LLC purchased a new position in shares of GoHealth during the 3rd quarter worth approximately $4,455,000. Geode Capital Management LLC boosted its stake in shares of GoHealth by 8.1% in the fourth quarter. Geode Capital Management LLC now owns 150,821 shares of the company’s stock valued at $324,000 after buying an additional 11,340 shares in the last quarter. Corient Private Wealth LLC boosted its stake in shares of GoHealth by 7.7% in the second quarter. Corient Private Wealth LLC now owns 125,938 shares of the company’s stock valued at $699,000 after buying an additional 8,979 shares in the last quarter. Barclays PLC grew its holdings in GoHealth by 10.1% during the fourth quarter. Barclays PLC now owns 81,181 shares of the company’s stock worth $175,000 after acquiring an additional 7,430 shares during the period. Finally, Focus Partners Wealth acquired a new position in GoHealth during the third quarter worth $270,000. Hedge funds and other institutional investors own 24.21% of the company’s stock.

About GoHealth

GoHealth, Inc is a technology-driven health insurance marketplace that connects consumers with a wide range of health insurance plans from leading carriers. Through its digital platform, the company facilitates the comparison, selection and enrollment process for individual and family plans, as well as Medicare Advantage and Medicare Supplement products. By leveraging data analytics and customer support services, GoHealth aims to simplify a traditionally complex market and enable more informed decision-making for policyholders.

The company’s online portal integrates real-time quoting tools, educational resources and access to licensed insurance agents, ensuring that users receive personalized guidance throughout the enrollment journey.