While Performant Healthcare Inc has overperformed by 0.72%, investors are advised to look at stock chart patterns for technical insight. Within its last year performance, PHLT rose by 38.74%, with highs and lows ranging from $4.35 to $2.17, whereas the simple moving average jumped by 38.35% in the last 200 days.
On July 25, 2024, B. Riley Securities started tracking Performant Healthcare Inc (NASDAQ: PHLT) recommending Buy. Lake Street also rated PHLT shares as ‘Buy’, setting a target price of $8 on the company’s shares in an initiating report dated April 11, 2022. Craig Hallum Initiated an Buy rating on July 07, 2021, and assigned a price target of $10. Colliers Securities initiated its ‘Buy’ rating for PHLT, as published in its report on June 04, 2021. Compass Point also rated the stock as ‘Neutral’.
Analysis of Performant Healthcare Inc (PHLT)
Further, the quarter-over-quarter increase in sales is 21.71%, showing a positive trend in the upcoming months.
One of the most important indicators of Performant Healthcare Inc’s future performance is equity, which can be evaluated using several well-rounded types of analysis and research techniques. The goal here is to ensure that your current return on equity of -7.65% is sufficient for you to turn a profit off your investment. Taking into account the quick ratio of the company, currently set at 2.56, you can see that the company can cover any debts it may have, which can easily be seen in the annual report of the company.
For any stock, average volume can also provide valuable insight into volatility, and PHLT is recording 173.87K average volume. On a monthly basis, the volatility of the stock is set at 5.51%, whereas on a weekly basis, it is put at 4.39%, with a gain of 5.28% over the past seven days. Furthermore, long-term investors anticipate a median target price of $7.00, showing growth from the present price of $4.19, which can serve as yet another indication of whether PHLT is worth investing in or should be passed over.
How Do You Analyze Performant Healthcare Inc Shares?
Along with the fundamentals, it is also important to consider how many employees own shares of the company. This is because the values should be in line with investors’ expectations. As such, the current holdings of company stock inside the company are set at 11.24%. This can enable you to see the extent to which executives own the company’s stock. As opposed to executive stock, institutional ownership accounts for 80.63% of the company’s shares, contributing to an indication of company value, since large shareholders may signify strength within the organization.
PHLT shares are owned by institutional investors to the tune of 80.63% at present.
