why Cano Health Inc. [CANO] is a Good Choice for Investors After New Price Target of $9.08

Cano Health Inc. [NYSE: CANO] closed the trading session at $4.29 on 10/21/22. The day’s price range saw the stock hit a low of $4.00, while the highest price level was $4.56.


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The stocks have a year to date performance of -51.85 percent and weekly performance of -47.87 percent. The stock has been moved at -14.88 percent over the last six months. The stock has performed -48.56 percent around the most recent 30 days and changed -32.44 percent over the most recent 3-months.

If compared to the average trading volume of 7.04M shares, CANO reached to a volume of 19422887 in the most recent trading day, which is why market watchdogs consider the stock to be active.

Here’s what leading stock market gurus have to say 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 $9.08 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 2.00. 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.

Truist have made an estimate for Cano Health Inc. shares, keeping their opinion on the stock as Hold, with their previous recommendation back on September 07, 2022. While these analysts kept the previous recommendation, Raymond James raised their target price to Outperform. The new note on the price target was released on June 24, 2022, representing the official price target for Cano Health Inc. stock. Previously, the target price had yet another drop from $8 to $6, while BofA Securities kept a Neutral rating on CANO stock.

The Average True Range (ATR) for Cano Health Inc. is set at 0.81, with the Price to Sales ratio for CANO stock in the period of the last 12 months amounting to 0.94. The Price to Book ratio for the last quarter was 2.19, with the Price to Cash per share for the same quarter was set at 0.09.

CANO stock trade performance evaluation

Cano Health Inc. [CANO] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -47.87. With this latest performance, CANO shares dropped by -48.56% in over the last four-week period, additionally sinking by -14.88% over the last 6 months – not to mention a drop of -64.60% 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 26.00, with the RSI for the last a single of trading hit 17.18, and the three-weeks RSI is set at 31.81 for Cano Health Inc. [CANO]. The present Moving Average for the last 50 days of trading for this stock 6.87, while it was recorded at 4.46 for the last single week of trading, and 5.99 for the last 200 days.

Cano Health Inc. [CANO]: An insightful look at the core fundamentals

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

Cano Health Inc. [CANO]: Insider Ownership positions

There are presently around $714 million, or 73.20% of CANO stock, in the hands of institutional investors. The top three institutional holders of CANO stocks are: FMR LLC with ownership of 31,162,099, which is approximately 3.826% of the company’s market cap and around 18.30% of the total institutional ownership; JPMORGAN CHASE & CO, holding 16,160,541 shares of the stock with an approximate value of $69.33 million in CANO stocks shares; and VANGUARD GROUP INC, currently with $67.93 million in CANO stock with ownership of nearly 24.397% of the company’s market capitalization.

Positions in Cano Health Inc. stocks held by institutional investors increased at the end of November and at the time of the November reporting period, where 78 institutional holders increased their position in Cano Health Inc. [NYSE:CANO] by around 41,422,354 shares. Additionally, 77 investors decreased positions by around 29,948,426 shares, while 22 investors held positions by with 94,969,965 shares. The mentioned changes placed institutional holdings at 166,340,745 shares, according to the latest SEC report filing. CANO stock had 34 new institutional investments in for a total of 5,735,301 shares, while 30 institutional investors sold positions of 15,775,618 shares during the same period.

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