BlackRock Fund Advisors recently announced the acquisition of new stake in Nutex Health Inc. (NASDAQ:NUTX). The institutional investor has increased its shareholding in the Healthcare company by 1.44% to 10.42 million shares with purchase of 0.15 million shares. This fresh investment now brings its stake to 1.60% valued currently at $5.92 million. In addition, SSgA Funds Management, Inc. raised its holdings by 3.18 million to 3.93 million shares. And Geode Capital Management LLC has lifted its position by 251.60% or 1.93 million shares – to 2.7 million shares.
With over 2.51 million Nutex Health Inc. (NUTX) shares trading Tuesday and a closing price of $0.53 on the day, the dollar volume was approximately $1.33 million. The shares have shown a negative half year performance of -55.33% and its price on 05/23/23 gained nearly 4.77%. Currently, there are 656.56M common shares owned by the public and among those 317.27M shares have been available to trade.
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An analysis of what Wall Street brokers have to say about the expected price targets for this stock gives us this picture: 2 analysts who have offered their price forecasts for NUTX have a consensus price objective of $2.75. The analysts have set the share’s price value over the next 12 months at a high of $3.00 and a low of $2.50. The average price target is 80.73% above its recent price level and an upside to the estimated low will see the stock gain 78.8% over that period. But an upside of 82.33% will see the stock hit the forecast high price target while median target price for the stock is $2.75.
Insiders at the company have transacted a total of 12 times over the past 12 months, according to data filed with the U.S. Securities and Exchange Commission (SEC). 10 of these insider trades were purchases, accounting for 874,516 shares. Insider sales of the common stock occurred on 2 occasions, with total insider shares sold totaling 169,378 shares.
The top 3 mutual fund holders in Nutex Health Inc. are Vanguard Total Stock Market ETF, iShares Russell 2000 ETF, and Fidelity Small Cap Index Fund. Vanguard Total Stock Market ETF owns 8.61 million shares of the company’s stock, all valued at over $4.89 million. The company bought an additional 8.61 million shares recently to bring their total holdings to about 1.32% of the shares outstanding. iShares Russell 2000 ETF sold 78480.0 shares to see its total holdings shrink to 5.37 million shares valued at over $3.05 million and representing 0.82% of the shares outstanding. Fidelity Small Cap Index Fund bought 21560.0 shares to bring its total holdings to over 2.09 million shares at a value of $1.19 million. Fidelity Small Cap Index Fund now owns shares totaling to 0.32% of the shares outstanding.
However, the script later moved the day high at 0.5600, up 4.77%. The company’s stock has a 5-day price change of 4.15% and -63.08% over the past three months. NUTX shares are trading -72.02% year to date (YTD), with the 12-month market performance down to -93.56% lower. It has a 12-month low price of $0.46 and touched a high of $11.19 over the same period. NUTX has an average intraday trading volume of 1.94 million shares. The stock is trading above its simple moving averages at the SMA20, SMA50, and SMA200, as the current price level is off by 0.44%, -31.46%, and -64.52% respectively.
Institutional ownership of Nutex Health Inc. (NASDAQ: NUTX) shares accounts for 1.30% of the company’s 656.56M shares outstanding. Mutual fund holders own 3.88%, while other institutional holders and individual stakeholders account for 42.22% and 0.99% respectively.
It has a market capitalization of $310.08M and a beta (3y monthly) value of 0.69. The earnings-per-share (ttm) stands at -$0.65. Price movements for the stock have been influenced by the stock’s volatility, which stands at 13.45% over the week and 11.48% over the month.
Analysts forecast that Nutex Health Inc. (NUTX) will achieve an EPS of $0 for the current quarter, $0 for the next quarter and $0 for 2024. The lowest estimate earnings-per-share for the quarter is -$0.01 while analysts give the company a high EPS estimate of $0. Earnings per share for the fiscal year are expected to decrease by -82.70%, and 66.70% over the next financial year.
If you are looking to buy this stock, then you may note that the average analyst recommendation by 2 brokerage firm advisors rate Nutex Health Inc. (NUTX) as a “Moderate Buy” at a consensus score of 2.00. Specifically, 2 Wall Street analysts polled rate the stock as a buy, while 0 of the 2 advise that investors “hold,” and 0 rated it as a “Sell.”
