Cano Health Inc. [CANO] moved down -6.35: Why It’s Important

Cano Health Inc. [NYSE: CANO] closed the trading session at $1.18 on 03/14/23. The day’s price range saw the stock hit a low of $1.16, while the highest price level was $1.30. The company report on March 1, 2023 that Cano Health Announces Financial Results for the Fourth Quarter and Full Year 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 fourth quarter and full year ended December 31, 2022.

The stocks have a year to date performance of -13.87 percent and weekly performance of -28.48 percent. The stock has been moved at -82.31 percent over the last six months. The stock has performed -25.79 percent around the most recent 30 days and changed -17.48 percent over the most recent 3-months.

If compared to the average trading volume of 8.66M shares, CANO reached to a volume of 7933503 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 $3.62 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 2.60. 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.

UBS have made an estimate for Cano Health Inc. shares, keeping their opinion on the stock as Neutral, with their previous recommendation back on January 06, 2023. The new note on the price target was released on January 05, 2023, representing the official price target for Cano Health Inc. stock. Previously, the target price had yet another raise to $1.50, while BofA Securities analysts kept a Underperform rating on CANO stock.

The Average True Range (ATR) for Cano Health Inc. is set at 0.17, with the Price to Sales ratio for CANO stock in the period of the last 12 months amounting to 0.23. The Price to Book ratio for the last quarter was 0.67, with the Price to Cash per share for the same quarter was set at 0.04.

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 -28.48. With this latest performance, CANO shares dropped by -25.79% in over the last four-week period, additionally sinking by -82.31% over the last 6 months – not to mention a drop of -80.07% 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 37.75, with the RSI for the last a single of trading hit 32.37, and the three-weeks RSI is set at 40.38 for Cano Health Inc. [CANO]. The present Moving Average for the last 50 days of trading for this stock 1.4252, while it was recorded at 1.3380 for the last single week of trading, and 4.0244 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 1.60.

Cano Health Inc. [CANO]: Insider Ownership positions

There are presently around $136 million, or 68.60% of CANO stock, in the hands of institutional investors. The top three institutional holders of CANO stocks are: JPMORGAN CHASE & CO with ownership of 16,374,893, which is approximately 3.074% of the company’s market cap and around 11.80% of the total institutional ownership; VANGUARD GROUP INC, holding 16,187,584 shares of the stock with an approximate value of $19.1 million in CANO stocks shares; and BLACKROCK INC., currently with $14.06 million in CANO stock with ownership of nearly -5.474% of the company’s market capitalization.

Positions in Cano Health Inc. stocks held by institutional investors increased at the end of Wednesday and at the time of the Wednesday reporting period, where 113 institutional holders increased their position in Cano Health Inc. [NYSE:CANO] by around 34,684,149 shares. Additionally, 101 investors decreased positions by around 83,859,192 shares, while 23 investors held positions by with 3,091,991 shares. The mentioned changes placed institutional holdings at 115,451,350 shares, according to the latest SEC report filing. CANO stock had 63 new institutional investments in for a total of 13,509,447 shares, while 50 institutional investors sold positions of 30,151,160 shares during the same period.


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