Cano Health Inc. [CANO] is -84.18% lower this YTD. Is it still time to buy?

Cano Health Inc. [NYSE: CANO] loss -1.40% on the last trading session, reaching $1.41 price per share at the time. The company report on November 9, 2022 that Cano Health Announces Financial Results for the Third Quarter 2022.

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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 financial results for the third quarter ended September 30, 2022.

Cano Health Inc. represents 232.31 million in outstanding shares, while the company has a total market value of $663.09 million with the latest information. CANO stock price has been found in the range of $1.38 to $1.50.

If compared to the average trading volume of 12.58M shares, CANO reached a trading volume of 5469828 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 $6.32 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 2.30. 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.

Raymond James have made an estimate for Cano Health Inc. shares, keeping their opinion on the stock as Mkt Perform, with their previous recommendation back on November 10, 2022. While these analysts kept the previous recommendation, Cowen raised their target price from $10 to $3. The new note on the price target was released on November 10, 2022, representing the official price target for Cano Health Inc. stock. Previously, the target price had yet another drop from $10 to $5, while Credit Suisse kept a Neutral rating on CANO stock.

The Average True Range (ATR) for Cano Health Inc. is set at 0.26, with the Price to Sales ratio for CANO stock in the period of the last 12 months amounting to 0.27. The Price to Book ratio for the last quarter was 0.81, with the Price to Cash per share for the same quarter was set at 0.05.

Trading performance analysis for CANO stock

Cano Health Inc. [CANO] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -32.54. With this latest performance, CANO shares dropped by -35.32% in over the last four-week period, additionally sinking by -70.32% over the last 6 months – not to mention a drop of -85.14% 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 28.38, with the RSI for the last a single of trading hit 28.76, and the three-weeks RSI is set at 29.65 for Cano Health Inc. [CANO]. The present Moving Average for the last 50 days of trading for this stock 3.9608, while it was recorded at 1.5340 for the last single week of trading, and 5.3345 for the last 200 days.

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

Operating Margin for any stock indicates how profitable investing would be, and Cano Health Inc. [CANO] shares currently have an operating margin of -5.89 and a Gross Margin at +9.29. Cano Health Inc.’s Net Margin is presently recorded at -1.12.

Return on Equity for this stock declined to -4.03, with Return on Assets sitting at -1.27.

Cano Health Inc.’s liquidity data is similarly interesting compelling, with a Current Ratio set at 1.60.

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

There are presently around $232 million, or 68.60% of CANO stock, in the hands of institutional investors. The top three institutional holders of CANO stocks are: FMR LLC with ownership of 34,787,577, which is approximately 11.634% of the company’s market cap and around 11.80% of the total institutional ownership; JPMORGAN CHASE & CO, holding 15,886,491 shares of the stock with an approximate value of $22.4 million in CANO stocks shares; and VANGUARD GROUP INC, currently with $20.7 million in CANO stock with ownership of nearly -7.28% 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 106 institutional holders increased their position in Cano Health Inc. [NYSE:CANO] by around 30,141,338 shares. Additionally, 67 investors decreased positions by around 31,198,026 shares, while 24 investors held positions by with 103,245,532 shares. The mentioned changes placed institutional holdings at 164,584,896 shares, according to the latest SEC report filing. CANO stock had 51 new institutional investments in for a total of 15,127,358 shares, while 23 institutional investors sold positions of 11,400,838 shares during the same period.


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