Performant Financial Corporation (NASDAQ:PFMT) Has Been Rising 153.12% Since The Beginning Of The Year. Troubles Ahead?

During the last session, Performant Financial Corporation (NASDAQ:PFMT)’s traded shares were 1,288,171, with the beta value of the company hitting -0.72. At the end of the trading day, the stock’s price was $2.23, reflecting an intraday loss of -8.98% or -$0.22. The 52-week high for the PFMT share is $2.47, that puts it down -10.76% from that peak though still a striking +75.78% gain since the share price plummeted to a 52-week low of $0.54. The company’s market capitalization is $134.32 Million, and the average intraday trading volume over the past 10 days was 37.3 Million shares, and the average trade volume was 3.19 Million shares over the past three months.

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Performant Financial Corporation (PFMT) received a consensus recommendation of Hold from analysts. That translates to a mean rating of 3. PFMT has a Sell rating from none of the analyst(s) out of 1 analysts who have looked at this stock. 1 analyst(s) recommend to Hold the stock while none of them suggest Overweight, and no one recommend a Buy rating for it. None of the analyst(s) has rated the stock Underweight. Company’s earnings per share (EPS) for the current quarter are expected to be $0.

Performant Financial Corporation (NASDAQ:PFMT): Trading Information

Performant Financial Corporation (PFMT) registered a -8.98% downside in the last session and has traded in the green over the past 5 sessions. The stock spiked 30.53% in intraday trading to $3.21- this Monday, Apr 05, hitting a weekly high. The stock’s 5-day price performance is 21.86%, and it has moved by 81.3% in 30 days. Based on these gigs, the overall price performance for the year is 153.12%. The short interest in Performant Financial Corporation (NASDAQ:PFMT) is 328.25 Million shares and it means that shorts have 102.9 day(s) to cover.

The consensus price target of analysts on Wall Street is $3, which implies an increase of 34.53% to the stock’s current value. The extremes of the forecast give a target low and a target high price of $3 and $3 respectively. As a result, PFMT is trading at a discount of 34.53% off the target high and 34.53% off the low.

Performant Financial Corporation (PFMT) projections and forecasts

An analysis of the company’s performance over the past 5 years shows that the company’s earnings fell an estimated -47.9%. While earnings are projected to return 48.7% in 2021, the next five years will return 20% per annum.

Performant Financial Corporation (NASDAQ:PFMT)’s Biggest Investors

Performant Financial Corporation insiders own 31.24% of total outstanding shares while institutional holders control 40.88%, with the float percentage being 59.45%. Prescott Group Capital Management, L.L.C. is the largest shareholder of the company, while 22 institutions own stock in it. As of Dec 30, 2020, the company held over 12.55 Million shares (or 22.88% of all shares), a total value of $11.05 Million in shares.

The next largest institutional holding, with 3.48 Million shares, is of Mill Road Capital Management, LLC’s that is approximately 6.35% of outstanding shares. At the market price on Dec 30, 2020, these shares were valued at $3.07 Million.

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Also, the Mutual Funds coming in first place with the largest holdings of Performant Financial Corporation (PFMT) shares are Vanguard Total Stock Market Index Fund and Vanguard Extended Market Index Fund. Data provided on Dec 30, 2020 indicates that Vanguard Total Stock Market Index Fund owns about 744,195 shares. This amounts to just over 1.36 percent of the company’s overall shares, with a $655.64 Thousand market value. The same data shows that the other fund manager holds slightly less at 359.07 Thousand, or about 0.65% of the stock, which is worth about $316.34 Thousand.

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