Cano Health Inc. [CANO] Insider Selling: Time to sell?


Cano Health Inc.’s filing revealed that its Chief Operating Officer Camerlinck Robert unloaded Company’s shares for reported $23453.0 on Aug 11. In the deal valued at $0.77 per share,30,646 shares were sold. As a result of this transaction, Camerlinck Robert now holds 26,958,642 shares worth roughly $ 10.78 million.

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Then, Aguilar Richard sold 400,000 shares, generating $525,760 in total proceeds. Upon selling the shares at $1.31, the Chief Clinical Officer now owns 1,213,984 shares.

Before that, Aguilar Richard sold 150,000 shares. Cano Health Inc. shares valued at $183,300 were divested by the Chief Clinical Officer at a price of $1.22 per share. As a result of the transaction, Aguilar Richard now holds 1,613,984 shares, worth roughly $0.65 million.

Jefferies downgraded its Cano Health Inc. [CANO] rating to a Hold from a a Buy in a research note published on Tuesday.

Price Performance Review of CANO

On Tuesday, Cano Health Inc. [NYSE:CANO] saw its stock jump 9.29% to $0.40. On the same session, the stock had its day’s lowest price of $0.3731, but rose to a high of $0.4439. Over the last five days, the stock has gained 36.12%. Cano Health Inc. shares have fallen nearly -70.98% since the year began. Nevertheless, the stocks have fallen -93.49% over the past one year. While a 52-week high of $9.75 was reached on 02/08/23, a 52-week low of $0.22 was recorded on 08/24/23. SMA at 50 days reached $1.0549, while 200 days put it at $1.2804. A total of 20.39 million shares were traded, compared to the trading of 20.63 million shares in the previous session.

Levels Of Support And Resistance For CANO Stock

The 24-hour chart illustrates a support level at 0.3658, which if violated will result in even more drops to 0.3341. On the upside, there is a resistance level at 0.4366. A further resistance level may holdings at 0.4757. The Relative Strength Index (RSI) on the 14-day chart is 34.52, which indicates neutral technical sentiment, while the Moving Average Convergence Divergence (MACD) stands at 0.0263, which suggests price will go down in the next trading period. Percent R suggests that price movement has been low at 45.98%. Stochastics %K at 47.13% indicates the stock is a holding.

How much short interest is there in Cano Health Inc.?

A steep rise in short interest was recorded in Cano Health Inc. stocks on Aug 14, 2023, dropping by -0.74 million shares to a total of 27.54 million shares. Yahoo Finance data shows the prior-month short interest on Jul 13, 2023 was 28.28 million shares. There was a decline of -2.69%, which implies that there is a negative sentiment for the stock. In spite of short shares comprising just 12.11% of the overall stock float, the days-to-cover ratio (short ratio) fell to 2.68.

According to FactSet, Cano Health Inc.’s share price will average $0.86 in the next year, based on opinions of analysts polled by the firm. This is up nearly 38.89 percent from its previous closing price of $0.36. Analysts expect Cano Health Inc. stock to reach the higher price of $2.00, while the lowest price estimate is $0.25. However, 9 analysts have rated CANO stock as a Hold in their predictions for 2023.


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