Cano Health Inc. [CANO] Revenue clocked in at $2.47 billion, down -84.62% YTD: What’s Next?

Cano Health Inc. [NYSE: CANO] stock went on an upward path that rose over 11.38% on Friday, amounting to a one-week price increase of more than 25.69%. The company report on December 22, 2022 that MSP Recovery Announces It Will Be Rebranding From MSP Recovery to Its Nationally Recognized Brand, “LifeWallet”.

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The Company will not change its core strategy, and the core business remains the same – secondary payer reimbursement recoveries. Utilizing the name LifeWallet reflects the diverse recovery opportunities presented by the company’s growing technological innovations and consolidates all of those lines of business under the same name, while positioning itself to generate additional revenues that were not predicted at the time of its business combination.

Over the last 12 months, CANO stock dropped by -84.99%. The one-year Cano Health Inc. stock forecast points to a potential upside of 75.92. The average equity rating for CANO stock is currently 2.50, trading closer to a bullish pattern in the stock market.

The market cap for the stock reached $608.20 million, with 232.31 million shares outstanding and 170.47 million shares in the current float. Compared to the average trading volume of 12.52M shares, CANO stock reached a trading volume of 8031935 in the most recent trading day, which is why market watchdogs consider the stock to be active.

Guru’s Opinion on 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 $5.69 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 2.50. 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 Underperform, with their previous recommendation back on December 13, 2022. 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 $3, while Cowen kept a Market Perform rating on CANO stock. On October 27, 2022, analysts decreased their price target for CANO shares from 10 to 5.

The Average True Range (ATR) for Cano Health Inc. is set at 0.16, with the Price to Sales ratio for CANO stock in the period of the last 12 months amounting to 0.25. The Price to Book ratio for the last quarter was 0.78, with the Price to Cash per share for the same quarter was set at 0.05.

CANO Stock Performance Analysis:

Cano Health Inc. [CANO] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 25.69. With this latest performance, CANO shares dropped by -27.89% in over the last four-week period, additionally sinking by -70.22% over the last 6 months – not to mention a drop of -84.99% 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 41.31, with the RSI for the last a single of trading hit 52.89, and the three-weeks RSI is set at 36.57 for Cano Health Inc. [CANO]. The present Moving Average for the last 50 days of trading for this stock 2.2262, while it was recorded at 1.1520 for the last single week of trading, and 5.0581 for the last 200 days.

Insight into Cano Health Inc. Fundamentals:

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

Cano Health Inc. [CANO] Insider Position Details

There are presently around $225 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 $21.76 million in CANO stocks shares; and VANGUARD GROUP INC, currently with $20.11 million in CANO stock with ownership of nearly -7.28% of the company’s market capitalization.

105 institutional holders increased their position in Cano Health Inc. [NYSE:CANO] by around 29,623,025 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 164,066,583 shares, according to the latest SEC report filing. CANO stock had 50 new institutional investments in for a total of 14,609,045 shares, while 23 institutional investors sold positions of 11,400,838 shares during the same period.

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