Performant Financial Corporation’s filing revealed that its 10% Owner PRESCOTT GROUP CAPITAL MANAGEM acquired Company’s shares for reported $78300.0 on May 10. In the deal valued at $2.61 per share,30,000 shares were bought. As a result of this transaction, PRESCOTT GROUP CAPITAL MANAGEM now holds 15,793,291 shares worth roughly $ 38.54 million.
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Then, PRESCOTT GROUP CAPITAL MANAGEM bought 300,182 shares, generating $798,484 in total proceeds. Upon buying the shares at $2.66, the 10% Owner now owns 15,763,291 shares.
Before that, PRESCOTT GROUP CAPITAL MANAGEM bought 2,770 shares. Performant Financial Corporation shares valued at $7,756 were divested by the 10% Owner at a price of $2.80 per share. As a result of the transaction, PRESCOTT GROUP CAPITAL MANAGEM now holds 15,463,109 shares, worth roughly $37.73 million.
PT values the company’s stock at a premium of 69.5 to its Friday closing price.
Price Performance Review of PFMT
On Friday, Performant Financial Corporation [NASDAQ:PFMT] saw its stock jump 3.83% to $2.44. On the same session, the stock had its day’s lowest price of $2.38, but rose to a high of $2.46. Over the last five days, the stock has gained 6.09%. Performant Financial Corporation shares have fallen nearly -32.41% since the year began. Nevertheless, the stocks have risen 16.75% over the past one year. While a 52-week high of $3.97 was reached on 01/03/23, a 52-week low of $1.72 was recorded on 08/30/23. SMA at 50 days reached $2.63, while 200 days put it at $2.91. A total of 0.1 million shares were traded, compared to the trading of 0.17 million shares in the previous session.
Levels Of Support And Resistance For PFMT Stock
The 24-hour chart illustrates a support level at 2.39, which if violated will result in even more drops to 2.35. On the upside, there is a resistance level at 2.47. A further resistance level may holdings at 2.51. The Relative Strength Index (RSI) on the 14-day chart is 46.46, which indicates neutral technical sentiment, while the Moving Average Convergence Divergence (MACD) stands at 0.01, which suggests price will go down in the next trading period. Percent R suggests that price movement has been low at 37.50%. Stochastics %K at 47.89% indicates the stock is a holding.
How much short interest is there in Performant Financial Corporation?
A steep rise in short interest was recorded in Performant Financial Corporation stocks on Aug 14, 2023, growing by 50000.0 shares to a total of 1.42 million shares. Yahoo Finance data shows the prior-month short interest on Jul 13, 2023 was 1.37 million shares. There was a rise of 3.52%, which implies that there is a positive sentiment for the stock. In spite of short shares comprising just 3.10% of the overall stock float, the days-to-cover ratio (short ratio) rose to 9.66.
According to FactSet, Performant Financial Corporation’s share price will average $7.50 in the next year, based on opinions of analysts polled by the firm. This is up nearly 219.15 percent from its previous closing price of $2.35. Analysts expect Performant Financial Corporation stock to reach the higher price of $8.00, while the lowest price estimate is $7.00. However, 2 analysts have rated PFMT stock as a Buy in their predictions for 2023.