MultiPlan Corporation [MPLN] is -9.36% lower this YTD. Is it still time to buy?

MultiPlan Corporation [NYSE: MPLN] stock went on a downward path that fall over -5.98% on Monday, amounting to a one-week price decrease of less than -2.11%. The company report on October 19, 2020 that MultiPlan Corporation Announces Preliminary Third Quarter Revenues Ahead of Refinancing.

Preliminary revenue results show improvement over second quarter 2020.

MultiPlan Corporation (“MultiPlan” or the “Company”) (NYSE: MPLN), a leading value-added provider of data analytics and technology-enabled end-to-end cost management solutions to the U.S. healthcare industry, today announced preliminary revenue for the quarter ended September 30, 2020 in advance of the previously announced refinancing transactions.

The market cap for the stock reached $5.88 billion, with 667.46 million shares outstanding. Compared to the average trading volume of 2.40M shares, MPLN stock reached a trading volume of 2647611 in the most recent trading day, which is why market watchdogs consider the stock to be active.

Guru’s Opinion on MultiPlan Corporation [MPLN]:

The Average True Range (ATR) for MultiPlan Corporation is set at 0.59, with the Price to Sales ratio for MPLN stock in the period of the last 12 months amounting to 6.18.

MPLN Stock Performance Analysis:

MultiPlan Corporation [MPLN] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -2.11. With this latest performance, MPLN shares dropped by -21.83% in over the last four-week period, additionally sinking by -9.73% over the last 6 months .

Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for MPLN stock in for the last two-week period is set at 35.47, with the RSI for the last a single of trading hit 35.09, and the three-weeks RSI is set at 36.39 for MultiPlan Corporation [MPLN]. The present Moving Average for the last 50 days of trading for this stock 10.64, while it was recorded at 8.94 for the last single week of trading.

Insight into MultiPlan Corporation Fundamentals:

MultiPlan Corporation [MPLN] Insider Position Details

58 institutional holders increased their position in MultiPlan Corporation [NYSE:MPLN] by around 49,967,274 shares. Additionally, 0 investors decreased positions by around 0 shares, while 0 investors held positions by with 18,900 shares. The mentioned changes placed institutional holdings at 49,986,174 shares, according to the latest SEC report filing. MPLN stock had 57 new institutional investments in for a total of 49,854,474 shares, while 0 institutional investors sold positions of 0 shares during the same period.

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