Performant Financial Co. (NASDAQ:PFMT)’s stock price dropped 8% during trading on Wednesday . The stock traded as low as $1.25 and last traded at $1.27. Approximately 805,542 shares were traded during trading, a decline of 9% from the average daily volume of 889,318 shares. The stock had previously closed at $1.38.
Separately, ValuEngine lowered shares of Performant Financial from a “sell” rating to a “strong sell” rating in a research note on Wednesday, November 11th.
The company’s 50-day simple moving average is $0.86 and its 200 day simple moving average is $0.84. The firm has a market cap of $69.54 million, a P/E ratio of -2.19 and a beta of -0.60. The company has a debt-to-equity ratio of 1.64, a current ratio of 2.65 and a quick ratio of 2.65.
Performant Financial (NASDAQ:PFMT) last released its earnings results on Tuesday, November 10th. The business services provider reported $0.05 earnings per share (EPS) for the quarter. The firm had revenue of $36.23 million during the quarter. Performant Financial had a negative net margin of 19.83% and a negative return on equity of 13.36%. Analysts anticipate that Performant Financial Co. will post -0.03 EPS for the current fiscal year.
A hedge fund recently raised its stake in Performant Financial stock. Bridgeway Capital Management Inc. raised its holdings in shares of Performant Financial Co. (NASDAQ:PFMT) by 69.4% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 330,900 shares of the business services provider’s stock after acquiring an additional 135,600 shares during the period. Bridgeway Capital Management Inc. owned approximately 0.60% of Performant Financial worth $221,000 at the end of the most recent quarter. Institutional investors own 47.50% of the company’s stock.
About Performant Financial (NASDAQ:PFMT)
Performant Financial Corporation provides technology-enabled audit, recovery, outsource customer, and related analytics services in the United States. The company offers recovery services primarily to the government-supported student loan industry serving guaranty agencies, private financial institutions, and the Department of Education; and restructures and recovers student loans issued directly by banks to students outside of federal lending programs.
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