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Can Performant Financial Corporation (PFMT) Future Potential Be Undermined By Current Price Volatility?

Performant Financial Corporation (NASDAQ:PFMT) has a beta value of -0.37 and has seen 1.47 million shares traded in the last trading session. The company, currently valued at $257.41M, closed the last trade at $3.35 per share which meant it gained $0.24 on the day or 7.72% during that session. The PFMT stock price is -18.51% off its 52-week high price of $3.97 and 48.66% above the 52-week low of $1.72. If we look at the company’s 10-day average daily trading volume, we find that it stood at 0.21 million shares traded. The 3-month trading volume is 191.74K shares.

Performant Financial Corporation (NASDAQ:PFMT) trade information

Sporting 7.72% in the green in last session, the stock has traded in the red over the last five days, with the highest price hit on Tuesday, 01/24/23 when the PFMT stock price touched $3.35 or saw a rise of 7.71%. Year-to-date, Performant Financial Corporation shares have moved -7.20%, while the 5-day performance has seen it change -6.16%. Over the past 30 days, the shares of Performant Financial Corporation (NASDAQ:PFMT) have changed 9.84%. Short interest in the company has seen 0.36 million shares shorted with days to cover at 2.82.

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Performant Financial Corporation (PFMT) estimates and forecasts

The company’s shares have gained 35.08% over the past 6 months. Revenue growth from the last financial year stood is estimated to be -12.10%.

2 analysts offering their estimates for the company have set an average revenue estimate of $26.59 million for the current quarter. 2 have an estimated revenue figure of $29.9 million for the next quarter concluding in Dec 2022.

If we evaluate the company’s growth over the last 5-year and for the next 5-year period, we find that annual earnings growth was 5.80% over the past 5 years. Earnings growth for 2023 is a modest 33.80% while over the next 5 years, the company’s earnings are expected to increase by 20.00%.

PFMT Dividends

Performant Financial Corporation is expected to release its next earnings report between March 13 and March 17 this year, and investors are excited at the prospect of better dividends despite the company’s debt issue.

Performant Financial Corporation (NASDAQ:PFMT)’s Major holders

Insiders own 16.98% of the company shares, while shares held by institutions stand at 61.38% with a share float percentage of 73.93%. Investors are also buoyed by the number of investors in a company, with Performant Financial Corporation having a total of 53 institutions that hold shares in the company. The top two institutional holders are Prescott Group Capital Management, L.L.C. with over 15.45 million shares worth more than $40.65 million. As of Jun 29, 2022, Prescott Group Capital Management, L.L.C. held 20.94% of shares outstanding.

The other major institutional holder is First Light Asset Management, LLC, with the holding of over 5.02 million shares as of Jun 29, 2022. The firm’s total holdings are worth over $13.2 million and represent 6.80% of shares outstanding.

Also the top two Mutual Funds that are holding company’s shares are Vanguard Total Stock Market Index Fund and Vanguard Extended Market Index Fund. As of Jun 29, 2022, the former fund manager holds about 2.39% shares in the company for having 1.77 million shares of worth $4.64 million while later fund manager owns 0.59 million shares of worth $1.54 million as of Jun 29, 2022, which makes it owner of about 0.79% of company’s outstanding stock.

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