GoHealth, Inc. (NASDAQ:GOCO) Sees Significant Decrease in Short Interest

GoHealth, Inc. (NASDAQ:GOCO) was the recipient of a large decrease in short interest in November. As of November 15th, there was short interest totalling 187,900 shares, a decrease of 8.0% from the October 31st total of 204,200 shares. Based on an average trading volume of 21,700 shares, the short-interest ratio is currently 8.7 days. Approximately 2.3% of the company’s stock are sold short.

GoHealth Stock Performance

Shares of GOCO traded down $0.46 during midday trading on Tuesday, reaching $12.00. 25,994 shares of the stock were exchanged, compared to its average volume of 19,257. GoHealth has a 12-month low of $7.27 and a 12-month high of $16.44. The firm has a 50 day simple moving average of $10.89 and a 200-day simple moving average of $10.34. The company has a quick ratio of 1.18, a current ratio of 1.18 and a debt-to-equity ratio of 1.72.

Institutional Investors Weigh In On GoHealth

A number of hedge funds and other institutional investors have recently made changes to their positions in the company. Vanguard Group Inc. raised its stake in shares of GoHealth by 2.8% during the 1st quarter. Vanguard Group Inc. now owns 206,525 shares of the company’s stock worth $2,171,000 after purchasing an additional 5,605 shares in the last quarter. Geode Capital Management LLC increased its holdings in shares of GoHealth by 3.2% during the 3rd quarter. Geode Capital Management LLC now owns 103,735 shares of the company’s stock valued at $973,000 after acquiring an additional 3,205 shares during the last quarter. Empowered Funds LLC increased its holdings in shares of GoHealth by 5.1% during the 3rd quarter. Empowered Funds LLC now owns 22,048 shares of the company’s stock valued at $207,000 after acquiring an additional 1,072 shares during the last quarter. Renaissance Technologies LLC increased its holdings in shares of GoHealth by 22.0% during the 2nd quarter. Renaissance Technologies LLC now owns 18,272 shares of the company’s stock valued at $178,000 after acquiring an additional 3,300 shares during the last quarter. Finally, Bank of New York Mellon Corp increased its holdings in shares of GoHealth by 16.1% during the 2nd quarter. Bank of New York Mellon Corp now owns 12,982 shares of the company’s stock valued at $126,000 after acquiring an additional 1,802 shares during the last quarter. 24.21% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Separately, Royal Bank of Canada reaffirmed a “sector perform” rating and set a $13.00 price target on shares of GoHealth in a research note on Monday, October 21st.

About GoHealth

GoHealth, Inc operates as a health insurance marketplace and Medicare-focused digital health company in the United States. The company operates a technology platform that leverages machine-learning algorithms of insurance behavioral data to optimize the process for helping individuals find the health insurance plan for their specific needs.