Performant Financial Corporation [NASDAQ: PFMT] loss -12.49% or -0.14 points to close at $0.98 with a heavy trading volume of 1008893 shares. The company report on December 31, 2020 that Performant Receives Continued Listing Standard Notice from Nasdaq.
Performant Financial Corporation (Nasdaq:PFMT),(“the Company”), a provider of technology-enabled recovery and related analytics services, announced that on December 23, 2020, the Company received a letter from the Listing Qualifications Department of the NASDAQ Stock Market (“NASDAQ”) indicating that, based upon the closing bid price of the Company’s common stock for the 30 consecutive business days beginning on November 6, 2020 and ending on December 22, 2020, the Company no longer meets the requirement to maintain a minimum bid price of $1 per share, as required by Marketplace Rule 5450(a)(1) (the “Rule”) for continued listing.
In accordance with applicable NASDAQ procedures, the Company plans to notify NASDAQ in a timely manner that it intends to pursue actions to meet the minimum average share price requirement. The NASDAQ letter indicates that the Company will be provided 180 calendar days, or until June 21, 2021, to regain compliance with the minimum $1.00 per share bid requirement.
It opened the trading session at $1.08, the shares rose to $1.1231 and dropped to $0.96, the range by which the price of stock traded the whole day. The daily chart for PFMT points out that the company has recorded 65.84% gains over the past six months. However, it is still -81.48% lower than its most recent low trading price.
If we look at the average trading volume of 764.68K shares, PFMT reached to a volume of 1008893 in the most recent trading day, which is why market watchdogs consider the stock to be active.
Here is what top equities market gurus are saying 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 0.13, with the Price to Sales ratio for PFMT stock in the period of the last 12 months amounting to 0.34. The Price to Book ratio for the last quarter was 1.42, with the Price to Cash per share for the same quarter was set at 0.28. Price to Free Cash Flow for PFMT in the course of the last twelve months was 4.47 with Quick ratio for the last quarter at 0.70.
Trading performance analysis for PFMT stock
Performant Financial Corporation [PFMT] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -24.02. With this latest performance, PFMT shares gained by 2.09% in over the last four-week period, additionally plugging by 65.84% over the last 6 months – not to mention a drop of -13.27% 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 44.80, with the RSI for the last a single of trading hit 37.66, and the three-weeks RSI is set at 47.91 for Performant Financial Corporation [PFMT]. The present Moving Average for the last 50 days of trading for this stock 0.9055, while it was recorded at 1.1460 for the last single week of trading, and 0.8178 for the last 200 days.
Performant Financial Corporation [PFMT]: A deeper dive into fundamental analysis
Operating Margin for any stock indicates how profitable investing would be, and Performant Financial Corporation [PFMT] shares currently have an operating margin of -8.28 and a Gross Margin at -8.28. Performant Financial Corporation’s Net Margin is presently recorded at -17.83.
Return on Total Capital for PFMT is now -10.21, given the latest momentum, and Return on Invested Capital for the company is -22.78. Return on Equity for this stock declined to -40.99, with Return on Assets sitting at -19.39. When it comes to the capital structure of this company, Performant Financial Corporation [PFMT] has a Total Debt to Total Equity ratio set at 129.87. Additionally, PFMT Total Debt to Total Capital is recorded at 56.50, with Total Debt to Total Assets ending up at 50.15. Long-Term Debt to Equity for the company is recorded at 118.50, with the Long-Term Debt to Total Capital now at 51.55.
Reflecting on the efficiency of the workforce at the company, Performant Financial Corporation [PFMT] managed to generate an average of -$16,607 per employee. Receivables Turnover for the company is 6.05 with a Total Asset Turnover recorded at a value of 1.09.Performant Financial Corporation’s liquidity data is similarly interesting compelling, with a Quick Ratio of 0.70 and a Current Ratio set at 0.70.
Performant Financial Corporation [PFMT]: An earnings per share (EPS) analysis
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%.
An analysis of insider ownership at Performant Financial Corporation [PFMT]
There are presently around $29 million, or 56.90% 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 31.28% of the total institutional ownership; INVESCO LTD., holding 9,762,903 shares of the stock with an approximate value of $10.93 million in PFMT stocks shares; and RENAISSANCE TECHNOLOGIES LLC, currently with $1.19 million in PFMT stock with ownership of nearly 6.654% of the company’s market capitalization.
Positions in Performant Financial Corporation stocks held by institutional investors increased at the end of March and at the time of the March reporting period, where 6 institutional holders increased their position in Performant Financial Corporation [NASDAQ:PFMT] by around 129,932 shares. Additionally, 8 investors decreased positions by around 400,820 shares, while 9 investors held positions by with 25,247,005 shares. The mentioned changes placed institutional holdings at 25,777,757 shares, according to the latest SEC report filing. PFMT stock had 1 new institutional investments in for a total of 10,603 shares, while 4 institutional investors sold positions of 42,682 shares during the same period.