Sunday, June 26, 2022

Investing in Convey Health Solutions Holdings Inc. (CNVY) Is Getting More Attractive

Guggenheim initiated its Convey Health Solutions Holdings Inc. [CNVY] rating to a Buy in a research note published on Tuesday, April 07, 2022; the price target was $12. PT values the company’s stock at a premium of 14.17 to its Tuesday closing price. A number of analysts have revised their coverage, including Goldman’s analysts, who began to cover the stock in mid February with a ‘”a Neutral”‘ rating. Truist began covering CNVY with a “Buy” recommendation on July 12, 2021. JP Morgan started covering the stock on July 12, 2021. It rated CNVY as “a Neutral”.


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Price Performance Review of CNVY

On Tuesday, Convey Health Solutions Holdings Inc. [NYSE:CNVY] saw its stock jump 138.43% to $10.30. On the same session, the stock had its day’s lowest price of $10.265, but rose to a high of $10.34. Over the last five days, the stock has gained 156.22%. Convey Health Solutions Holdings Inc. shares have risen nearly 23.21% since the year began. Nevertheless, the stocks have fallen -12.19% over the past one year. While a 52-week high of $13.31 was reached on 06/21/22, a 52-week low of $3.75 was recorded on 06/13/22. SMA at 50 days reached $5.59, while 200 days put it at $6.77. A total of 9.37 million shares were traded, compared to the trading of 0.14 million shares in the previous session.

Levels Of Support And Resistance For CNVY Stock

The 24-hour chart illustrates a support level at 10.26, which if violated will result in even more drops to 10.23. On the upside, there is a resistance level at 10.34. A further resistance level may holdings at 10.38. The Relative Strength Index (RSI) on the 14-day chart is 79.79, which indicates overbought technical sentiment, while the Moving Average Convergence Divergence (MACD) stands at 1.03, which suggests price will go up in the next trading period. Percent R suggests that price movement has been bullish at 0.61%. Stochastics %K at 48.27% indicates the stock is a holding.

How much short interest is there in Convey Health Solutions Holdings Inc.?

A steep rise in short interest was recorded in Convey Health Solutions Holdings Inc. stocks on Apr 28, 2022, growing by 35870.0 shares to a total of 0.27 million shares. Yahoo Finance data shows the prior-month short interest on Mar 30, 2022 was 0.23 million shares. There was a rise of 13.28%, which implies that there is a positive sentiment for the stock. In spite of short shares comprising just 1.69% of the overall stock float, the days-to-cover ratio (short ratio) rose to 4.05.

Convey Health Solutions Holdings Inc. [CNVY] – Who Are The Largest Shareholders?

In filings from Pura Vida Investments LLC, it is revealed that the company now owns 1,720,752 shares, or roughly 2.35% of the outstanding CNVY shares. In other words, the investor’s shares have risen by 244,674 from its previous 13-F filing of 1476078.0. Additionally, Wellington Management Co. LLP increased 67.56% of its stake after which the total value it holdings stand at $9,348,391, while Prosight Management LP reduced -3.72% of its stake to hold $4.64 million in the firm. Over the last quarter, First Pacific Advisors LP purchased 21,775 shares of Convey Health Solutions Holdings Inc., while Tocqueville Asset Management LP bought 170,000 shares. At present, Norges Bank Investment Management is holding 645,127 shares valued at $4.0 million. Invenomic Capital Management LP owned 594,347 shares of the company at the time of its most recent 13F filing, worth $3.68 million.

According to FactSet, Convey Health Solutions Holdings Inc.’s share price will average $11.13 in the next year, based on opinions of analysts polled by the firm. This is up nearly 154.63 percent from its previous closing price of $4.32. Analysts expect Convey Health Solutions Holdings Inc. stock to reach the higher price of $12.00, while the lowest price estimate is $10.50. However, 4 analysts have rated CNVY stock as an Overweight in their predictions for 2022. The most recent change occurred on July 12, 2021 when Goldman began covering the stock and recommended ‘”a Buy”‘ rating along with a $21 price target.

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