The stock price of BrightSpring Health Services Inc (NASDAQ: BTSG) has surged by 1.88 when compared to previous closing price of 10.66, but the company has seen a 4.32% gain in its stock price over the last five trading sessions. GlobeNewsWire reported 2024-04-09 that LOUISVILLE, Ky., April 09, 2024 (GLOBE NEWSWIRE) — BrightSpring Health Services, Inc. (“BrightSpring” or the “Company”) (NASDAQ: BTSG) announced today that it plans to release its first quarter 2024 financial results on Thursday, May 2, 2024, prior to the Company’s earnings conference call, which will be held at 8:30 a.m. ET on the same day.
Is It Worth Investing in BrightSpring Health Services Inc (NASDAQ: BTSG) Right Now?
There are mixed opinions on the stock, with 0 analysts rating it as a “buy,” 0 rating it as “overweight,” 0 rating it as “hold,” and 0 rating it as “sell.”
The public float for BTSG is 52.76M, and at present, short sellers hold a 27.76% of that float. The average trading volume of BTSG on May 02, 2024 was 1.89M shares.
BTSG’s Market Performance
The stock of BrightSpring Health Services Inc (BTSG) has seen a 4.32% increase in the past week, with a 4.02% rise in the past month, and a -3.98% fall in the past quarter. The volatility ratio for the week is 3.78%, and the volatility levels for the past 30 days are at 3.84% for BTSG. The simple moving average for the past 20 days is 3.61% for BTSG’s stock, with a 6.76% simple moving average for the past 200 days.
Analysts’ Opinion of BTSG
Many brokerage firms have already submitted their reports for BTSG stocks, with HSBC Securities repeating the rating for BTSG by listing it as a “Buy.” The predicted price for BTSG in the upcoming period, according to HSBC Securities is $13 based on the research report published on March 06, 2024 of the current year 2024.
Deutsche Bank, on the other hand, stated in their research note that they expect to see BTSG reach a price target of $11.50. The rating they have provided for BTSG stocks is “Buy” according to the report published on February 27th, 2024.
Wells Fargo gave a rating of “Overweight” to BTSG, setting the target price at $15 in the report published on February 20th of the current year.
BTSG Trading at 10.03% from the 50-Day Moving Average
After a stumble in the market that brought BTSG to its low price for the period of the last 52 weeks, the company was unable to rebound, for now settling with -10.54% of loss for the given period.
Volatility was left at 3.84%, however, over the last 30 days, the volatility rate increased by 3.78%, as shares surge +6.12% for the moving average over the last 20 days. Over the last 50 days, in opposition, the stock is trading +8.55% upper at present.
During the last 5 trading sessions, BTSG rose by +4.90%, in comparison to the 20-day moving average, which settled at $10.51. In addition, BrightSpring Health Services Inc saw -1.27% in overturn over a single year, with a tendency to cut further losses.
Insider Trading
Reports are indicating that there were more than several insider trading activities at BTSG starting from ROUSSEAU JON B, who purchase 18,400 shares at the price of $8.09 back on Mar 15 ’24. After this action, ROUSSEAU JON B now owns 369,763 shares of BrightSpring Health Services Inc, valued at $148,856 using the latest closing price.
ROUSSEAU JON B purchase 18,400 shares at $8.09 during a trade that took place back on Mar 15 ’24, which means that ROUSSEAU JON B is holding 1,025,636 shares at $148,856 based on the most recent closing price.
Conclusion
In summary, BrightSpring Health Services Inc (BTSG) has had a mixed performance as of late. Analysts have mixed opinions on the stock, with some viewing it as a “buy” and others as a “hold”. It is worth mentioning that the stock is currently trading in close proximity to its 50-day moving average and its 52-week high.
