Is a Correction Looming Ahead for Change Healthcare Inc. (CHNG)

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Change Healthcare Inc. (NASDAQ:CHNG) went down by -2.78% from its latest closing price compared to the recent 1-year high of $17.57. The company’s stock price has collected -2.85% of loss in the last five trading sessions. Press Release reported on 09/23/20 that Change Healthcare Simplifies Billing to Bring More COVID-19 Testing Options to Consumers

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Is It Worth Investing in Change Healthcare Inc. (NASDAQ :CHNG) Right Now?

Opinions of the stock are interesting as 18 analysts out of 20 who provided ratings for Change Healthcare Inc. declared the stock was a “buy,” while 1 rated the stock as “overweight,” 1 rated it as “hold,” and 0 as “sell.”


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The average price from analysts is $18.00, which is $3.33 above the current price. CHNG currently public float of 288.11M and currently shorts hold a 4.33% ratio of that float. Today, the average trading volume of CHNG was 2.80M shares.

CHNG’s Market Performance

CHNG stocks went down by -2.85% for the week, with a monthly drop of -0.41% and a quarterly performance of 34.83%, while its annual performance rate touched 15.42%. The volatility ratio for the week stands at 3.49% while the volatility levels for the past 30 days are set at 3.36% for Change Healthcare Inc.. The simple moving average for the period of the last 20 days is 0.71% for CHNG stocks with a simple moving average of 15.02% for the last 200 days.

Analysts’ Opinion of CHNG

Many brokerage firms have already submitted their reports for CHNG stocks, with Citigroup repeating the rating for CHNG by listing it as a “Buy.” The predicted price for CHNG in the upcoming period, according to Citigroup is $15 based on the research report published on July 14th of the current year 2020.

Raymond James gave a rating of “Strong Buy” to CHNG, setting the target price at $20 in the report published on March 18th of the current year.

CHNG Trading at 4.56% from the 50-Day Moving Average

After a stumble in the market that brought CHNG to its low price for the period of the last 52 weeks, the company was unable to rebound, for now settling with -16.51% of loss for the given period.

Volatility was left at 3.36%, however, over the last 30 days, the volatility rate increased by 3.49%, as shares surge +5.84% for the moving average over the last 20 days. Over the last 50 days, in opposition, the stock is trading +14.39% upper at present.

During the last 5 trading sessions, CHNG fell by -2.85%, which changed the moving average for the period of 200-days by -6.80% in comparison to the 20-day moving average, which settled at $14.61. In addition, Change Healthcare Inc. saw -10.49% in overturn over a single year, with a tendency to cut further losses.

Insider Trading

Reports are indicating that there were more than several insider trading activities at CHNG starting from Eliasson Fredrik J, who purchase 100,000 shares at the price of $12.00 back on Jun 10. After this action, Eliasson Fredrik J now owns 140,000 shares of Change Healthcare Inc., valued at $1,200,000 using the latest closing price.

Stock Fundamentals for CHNG

Equity return is now at value -7.90, with -1.70 for asset returns.

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