Cano Health Inc. [CANO] Is Currently 3.92 below its 200 Period Moving Avg: What Does This Mean?


Cano Health Inc. [NYSE: CANO] gained 3.92% on the last trading session, reaching $5.57 price per share at the time. The company report on May 3, 2022 that Cano Health to Participate in Upcoming Investor Conferences.

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Cano Health, Inc. (“Cano Health” or the “Company”) (NYSE: CANO), a leading value-based primary care provider and population health company, today announced its Chairman and CEO, Dr. Marlow Hernandez, will participate in the following upcoming investor conferences:.

BofA Securities 2022 Healthcare Conference in Las Vegas, NV on Thursday, May 12, 2022, at 11:20 AM PT / 2:20 PM ET.

Cano Health Inc. represents 177.73 million in outstanding shares, while the company has a total market value of $2.83 billion with the latest information. CANO stock price has been found in the range of $5.08 to $5.58.

If compared to the average trading volume of 3.63M shares, CANO reached a trading volume of 4290800 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 Cano Health Inc. [CANO]:

Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for CANO shares is $11.88 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on CANO stock is a recommendation set at 1.70. This rating represents a strong Buy recommendation, on the scale from 1 to 5, where 5 would mean strong sell, 4 represents Sell, 3 is Hold, and 2 indicates Buy.

BofA Securities have made an estimate for Cano Health Inc. shares, keeping their opinion on the stock as Buy, with their previous recommendation back on May 03, 2022. While these analysts kept the previous recommendation, UBS raised their target price to Buy. The new note on the price target was released on April 20, 2022, representing the official price target for Cano Health Inc. stock. Previously, the target price had yet another drop from $8.50 to $5, while Piper Sandler kept a Underweight rating on CANO stock.

The Average True Range (ATR) for Cano Health Inc. is set at 0.42, with the Price to Sales ratio for CANO stock in the period of the last 12 months amounting to 1.76. The Price to Book ratio for the last quarter was 3.11, with the Price to Cash per share for the same quarter was set at 0.32.

Trading performance analysis for CANO stock

Cano Health Inc. [CANO] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 2.77. With this latest performance, CANO shares dropped by -15.86% in over the last four-week period, additionally sinking by -48.90% over the last 6 months – not to mention a drop of -57.45% 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 CANO stock in for the last two-week period is set at 50.50, with the RSI for the last a single of trading hit 53.97, and the three-weeks RSI is set at 48.79 for Cano Health Inc. [CANO]. The present Moving Average for the last 50 days of trading for this stock 5.71, while it was recorded at 5.47 for the last single week of trading, and 9.06 for the last 200 days.

Cano Health Inc. [CANO]: A deeper dive into fundamental analysis

Cano Health Inc.’s liquidity data is similarly interesting compelling, with a Quick Ratio of 2.00 and a Current Ratio set at 2.00.

An analysis of insider ownership at Cano Health Inc. [CANO]

There are presently around $865 million, or 82.50% of CANO stock, in the hands of institutional investors. The top three institutional holders of CANO stocks are: FMR LLC with ownership of 32,989,715, which is approximately -8.157% of the company’s market cap and around 3.00% of the total institutional ownership; VANGUARD GROUP INC, holding 12,135,543 shares of the stock with an approximate value of $65.05 million in CANO stocks shares; and THIRD POINT LLC, currently with $60.48 million in CANO stock with ownership of nearly 1.804% of the company’s market capitalization.

88 institutional holders increased their position in Cano Health Inc. [NYSE:CANO] by around 27,786,363 shares. Additionally, 64 investors decreased positions by around 17,453,956 shares, while 12 investors held positions by with 116,103,160 shares. The mentioned changes placed institutional holdings at 161,343,479 shares, according to the latest SEC report filing. CANO stock had 48 new institutional investments in for a total of 13,449,796 shares, while 32 institutional investors sold positions of 8,723,767 shares during the same period.