Can Performant Financial Corporation’s (PFMT) drop of -6.16% in a week be considered a lucky break?

January 24, 2023, Performant Financial Corporation (NASDAQ: PFMT) trading session started at the price of $3.11, that was 7.72% jump from the session before. During the day, the shares moved up to $3.38 and dropped to $3.11 before settling in for the closing price of $3.11. A 52-week range for PFMT has been $1.72 – $3.97.

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Annual sales at Industrials sector company slipped by -2.50% over the past five years. When this article was written, the company’s average yearly earnings per share was at 33.80%. With a float of $58.49 million, this company’s outstanding shares have now reached $74.02 million.

Let’s look at the performance matrix of the company that is accounted for 929 employees. In terms of profitability, gross margin is -0.55, operating margin of -0.55, and the pretax margin is -8.22.

Performant Financial Corporation (PFMT) Insider and Institutional Ownership

Also, it is sometimes useful to examine the sentiment of large-scale investors toward Performant Financial Corporation stocks. The insider ownership of Performant Financial Corporation is 1.00%, while institutional ownership is 60.50%. The most recent insider transaction that took place on Mar 25, was worth 284,000. In this transaction 10% Owner of this company bought 100,000 shares at a rate of $2.84, taking the stock ownership to the 15,454,704 shares. Before that another transaction happened on Mar 16, when Company’s 10% Owner sold 194,334 for $2.27, making the entire transaction worth $441,138. This insider now owns 2,044,881 shares in total.

Performant Financial Corporation (PFMT) Latest Financial update

Going through the last 3-months fiscal report unveiled on the 6/29/2022, it has been observed that the corporation posted -$0.04 earnings per share (EPS) during the time that was better than consensus figure (set at -$0.05) by $0.01. This company achieved a net margin of -8.27 while generating a return on equity of -16.54. Wall Street market experts anticipate that the next fiscal year will bring earnings of 0 per share during the current fiscal year.

According to the Wall Street analysts, stocks earnings will be around 33.80% per share during the next fiscal year. For the long-term projections, market analysts anticipate that the company’s EPS will surge by 20.00% during the next five years compared to 5.80% growth over the previous five years of trading.

Performant Financial Corporation (NASDAQ: PFMT) Trading Performance Indicators

You can see what Performant Financial Corporation (PFMT) is doing with its current performance indicators. In the most recent quarter, the stock posted a quick ratio of 4.20. In addition, a publicly-traded company’s price to sales ratio for the trailing twelve months stands at 2.31.

For the trailing twelve months, Company’s Diluted EPS (Earnings per Share) is -0.12, a number that is poised to hit -0.02 in the next quarter and is forecasted to reach -0.07 in one year’s time.

Technical Analysis of Performant Financial Corporation (PFMT)

Performant Financial Corporation (NASDAQ: PFMT) saw its 5-day average volume 0.48 million, a positive change from its year-to-date volume of 0.32 million. As of the previous 9 days, the stock’s Stochastic %D was 27.61%. Additionally, its Average True Range was 0.20.

During the past 100 days, Performant Financial Corporation’s (PFMT) raw stochastic average was set at 72.44%, which indicates a significant increase from 45.50% during the past two weeks. Based on volatility metrics of the stock, it showed a historical volatility of 45.80% in the past 14 days, which was lower than the 52.15% volatility it showed in the past 100 days.

At the time of writing, stock’s 50-day Moving Average is $2.87, while its 200-day Moving Average is $2.45. Nevertheless, the first resistance level for the watch stands at $3.45 in the near term. At $3.55, the stock is likely to face the second major resistance level. The third major resistance level sits at $3.72. If the price goes on to break the first support level at $3.18, it is likely to go to the next support level at $3.01. The third support level lies at $2.91 if the price breaches the second support level.

Performant Financial Corporation (NASDAQ: PFMT) Key Stats

There are 74,278K outstanding shares of the company, which has a market capitalization of 257.41 million. As of now, sales total 124,390 K while income totals -10,290 K. Its latest quarter income was 27,180 K while its last quarter net income were -1,460 K.


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