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Performant Financial Corporation (PFMT) Reveals an Earnings Mystery

Performant Financial Corporation (NASDAQ:PFMT) went up by 7.72% from its latest closing price compared to the recent 1-year high of $3.97. The company’s stock price has collected -6.16% of loss in the last five trading sessions.

Is It Worth Investing in Performant Financial Corporation (NASDAQ :PFMT) Right Now?

Plus, the 36-month beta value for PFMT is at -0.37. Opinions of the stock are interesting as 2 analysts out of 2 who provided ratings for Performant Financial Corporation declared the stock was a “buy,” while 0 rated the stock as “overweight,” 0 rated it as “hold,” and 0 as “sell.”

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The average price from analysts is $7.50, which is $4.15 above the current price. PFMT currently public float of 58.49M and currently shorts hold a 0.64% ratio of that float. Today, the average trading volume of PFMT was 191.74K shares.

PFMT’s Market Performance

PFMT stocks went down by -6.16% for the week, with a monthly jump of 9.84% and a quarterly performance of 86.11%, while its annual performance rate touched 65.84%. The volatility ratio for the week stands at 10.87% while the volatility levels for the past 30 days are set at 6.43% for Performant Financial Corporation. The simple moving average for the period of the last 20 days is -3.00% for PFMT stocks with a simple moving average of 36.77% for the last 200 days.

Analysts’ Opinion of PFMT

Many brokerage firms have already submitted their reports for PFMT stocks, with Lake Street repeating the rating for PFMT by listing it as a “Buy.” The predicted price for PFMT in the upcoming period, according to Lake Street is $8 based on the research report published on December 20th of the previous year 2022.

Lake Street, on the other hand, stated in their research note that they expect to see PFMT reach a price target of $8. The rating they have provided for PFMT stocks is “Buy” according to the report published on April 11th, 2022.

Craig Hallum gave a rating of “Buy” to PFMT, setting the target price at $10 in the report published on July 07th of the previous year.

PFMT Trading at 17.37% from the 50-Day Moving Average

After a stumble in the market that brought PFMT to its low price for the period of the last 52 weeks, the company was unable to rebound, for now settling with -15.62% of loss for the given period.

Volatility was left at 6.43%, however, over the last 30 days, the volatility rate increased by 10.87%, as shares surge +10.93% for the moving average over the last 20 days. Over the last 50 days, in opposition, the stock is trading +44.40% upper at present.

During the last 5 trading sessions, PFMT fell by -6.16%, which changed the moving average for the period of 200-days by +13.95% in comparison to the 20-day moving average, which settled at $3.47. In addition, Performant Financial Corporation saw -7.20% 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 PFMT starting from PRESCOTT GROUP CAPITAL MANAGEM, who purchase 100,000 shares at the price of $2.84 back on Mar 25. After this action, PRESCOTT GROUP CAPITAL MANAGEM now owns 15,454,704 shares of Performant Financial Corporation, valued at $284,000 using the latest closing price.

ECMC Group, Inc., the 10% Owner of Performant Financial Corporation, sale 194,334 shares at $2.27 during a trade that took place back on Mar 16, which means that ECMC Group, Inc. is holding 2,044,881 shares at $441,138 based on the most recent closing price.

Stock Fundamentals for PFMT

Current profitability levels for the company are sitting at:

  • -0.55 for the present operating margin
  • -0.55 for the gross margin

The net margin for Performant Financial Corporation stands at -8.27. Equity return is now at value -10.60, with -7.40 for asset returns.

The liquidity ratio also appears to be rather interesting for investors as it stands at 3.12.

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