Why Shares of Nutex Health Jumped 28.1% Monday
Shares of Nutex Health (NASDAQ: NUTX), a physician-led healthcare management company with physician networks and 21 micro-hospitals, rose 28.1% on Monday. The stock closed on Friday at $1.21, then opened on Monday at $1.20. The stock peaked at $1.60 shortly after 2 p.m., then closed at $1.55. The stock has a 52-week low of $0.50 and a 52-week high of $52.80, and is down more than 62% so far this year. The stock went public via a reverse merger with Clinigence Holdings in April.
There wasn't any announcement by the company. Monday's move was likely a reaction to an overcorrection last week, when the stock fell as low as $0.90 a share.
Nutex Health reported third-quarter earnings on Nov. 22. The company reported a net loss of $422.5 million and an earnings-per-share (EPS) loss of $0.65, compared to net income of $74.5 million and an EPS gain of $0.09 in the same period last year. The company attributed the net loss and EPS loss to a one-time goodwill impairment charge of $408.5 million. The company also announced an agreement to sell up to $100 million in stock to Lincoln Park Capital, which dilutes the company's value to its current investors.
Source Fool.com
