Performant Financial Corporation [PFMT] moved down -10.16: Why It’s Important

Performant Financial Corporation [NASDAQ: PFMT] traded at a low on 11/11/20, posting a -10.16 loss after which it closed the day’ session at $0.84.

The results of the trading session contributed to over 10098704 shares changing hands. Over the past one week, the price volatility of Performant Financial Corporation stands at 22.53% while the volatility over the past one month is 14.26%.

The market cap for PFMT stock reached $47.47 million, with 54.27 million shares outstanding and 34.11 million shares in the current float. Compared to the average trading volume of 196.96K shares, PFMT reached a trading volume of 10098704 in the most recent trading day, which is why market watchdogs consider the stock to be active.

What do top market gurus say about Performant Financial Corporation [PFMT]?

Compass Point have made an estimate for Performant Financial Corporation shares, keeping their opinion on the stock as Buy, with their previous recommendation back on January 12, 2018. While these analysts kept the previous recommendation, Compass Point dropped their target price from $3 to $2.50. The new note on the price target was released on February 26, 2016, representing the official price target for Performant Financial Corporation stock. Previously, the target price had yet another drop from $6 to $3.50, while Compass Point kept a Neutral rating on PFMT stock. On February 27, 2015, analysts decreased their price target for PFMT shares from 10 to 6.

The Average True Range (ATR) for Performant Financial Corporation is set at 0.19, with the Price to Sales ratio for PFMT stock in the period of the last 12 months amounting to 0.30. The Price to Book ratio for the last quarter was 1.29, with the Price to Cash per share for the same quarter was set at 0.27. Price to Free Cash Flow for PFMT in the course of the last twelve months was 11.04 with Quick ratio for the last quarter at 2.60.

How has PFMT stock performed recently?

Performant Financial Corporation [PFMT] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -20.00. With this latest performance, PFMT shares dropped by -56.02% in over the last four-week period, additionally plugging by 14.30% over the last 6 months – not to mention a drop of -18.45% in the past year of trading.

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 PFMT stock in for the last two-week period is set at 35.22, with the RSI for the last a single of trading hit 24.42, and the three-weeks RSI is set at 40.83 for Performant Financial Corporation [PFMT]. The present Moving Average for the last 50 days of trading for this stock 1.0513, while it was recorded at 0.9533 for the last single week of trading, and 0.8297 for the last 200 days.

Performant Financial Corporation [PFMT]: Deeper insight into the fundamentals

Performant Financial Corporation’s liquidity data is similarly interesting compelling, with a Quick Ratio of 2.60 and a Current Ratio set at 2.60.

Earnings analysis for Performant Financial Corporation [PFMT]

With the latest financial reports released by the company, Performant Financial Corporation posted -0.14/share EPS, while the average EPS was predicted by analysts to be reported at -0.1/share. When compared, the two values demonstrate that the company fail the estimates by a Surprise Factor of -40.00%. The progress of the company may be observed through the prism of EPS growth rate, while Wall Street analysts are focusing on predicting the 5-year EPS growth rate for PFMT. When it comes to the mentioned value, analysts are expecting to see the 5-year EPS growth rate for Performant Financial Corporation go to 20.00%.

Insider trade positions for Performant Financial Corporation [PFMT]

There are presently around $22 million, or 53.90% of PFMT stock, in the hands of institutional investors. The top three institutional holders of PFMT stocks are: PRESCOTT GROUP CAPITAL MANAGEMENT, L.L.C. with ownership of 12,545,261, which is approximately 0% of the company’s market cap and around 1.70% of the total institutional ownership; INVESCO LTD., holding 9,731,533 shares of the stock with an approximate value of $8.17 million in PFMT stocks shares; and RENAISSANCE TECHNOLOGIES LLC, currently with $0.84 million in PFMT stock with ownership of nearly 3.448% of the company’s market capitalization.

8 institutional holders increased their position in Performant Financial Corporation [NASDAQ:PFMT] by around 401,545 shares. Additionally, 4 investors decreased positions by around 796,940 shares, while 10 investors held positions by with 24,790,517 shares. The mentioned changes placed institutional holdings at 25,989,002 shares, according to the latest SEC report filing. PFMT stock had 3 new institutional investments in for a total of 12,934 shares, while 0 institutional investors sold positions of 0 shares during the same period.

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