Financial Performance Adversely Affects Bright Health Stock Price

Bright Health is a healthcare company founded in 2015 that provides and finances insurance plans through its subsidiaries NeueHealth and Bright HealthCare. And in June 2021, its shares began trading on the exchange under the ticker BHG for $ 18 each. Since the day of its debut, the price has tanked 72.5%. The five-day chart shows that on the morning of November 5, the worth was $ 7.72, which was down $ 0.5 by Wednesday. The next day, it plummeted 31% to $ 4.95. The last sharp drop was caused by disappointing earnings of the ended 3 quarter.

Key financials show that revenue for this period blasted off more than 200% to just over $ 1 million compared to Q3 of 2020. However, the loss, soared $ 237 million to $ 296.7 million from last year, accounting for 48 cents per share. This is due to the increase in medical costs, nevertheless, it’s noteworthy that medical expenses in Florida have dipped 22%.  At the end of this year, Bright Health expects maximum revenues of $ 4.2 billion and a minimum of $ 4.1 million. And the profits of his subsidiary, NeueHealth, will rise to $ 575 million, of which $ 100 million will come from investments. And the total number of Bright HealthCare clients will be 700,000.