Cano Health Inc. (NYSE:CANO) currently has a daily average trading volume of 10.69M but it saw 14185810 shares traded on Wednesday. With a market cap of 838.20M USD, stock’s current market price of $1.52 came rising about 1.33 while comparing to the previous closing price of $1.50. In past 52 weeks, the stock remained buoying in the range of price level as high as $10.12 and as low as $1.48. In the recent trading on the day, stock has struck highest price mark of $1.59 while lowest mark touched by it was $1.50.
Taking a look at 20-day trading activity of Cano Health Inc. (CANO) gives us an average price of $2.7130, while its current price level is -84.98% below from 52-week high level whereas it is 2.70% above from lowest level seen by the stock during that period. Simple moving average of 50 days or SMA-50 of the stock’s closing price is $5.4174 while that of 200 days or SMA-200 reads an average of $5.6027. A closer look into the stock’s movement over the week reveals that its volatility is standing at 9.47% during that period while stretching the period over a month that increases to 11.13%. It is also necessary to take a look into other indicators of a stock too, to get a better idea about its price movement. And in doing so, we find stock’s 14-day relative strength index (RSI) standing at 20.17 which implies that the stock is in oversold territory.
Cano Health Inc. (CANO)’s stock is currently under the radar of 9 analysts who are in consensus at a 12-month price target range of between $3.00 and $12.00 for company’s shares. The average price target assigned by the average number of analysts to a stock is a way to gauge worth of any stock in next 52 weeks. And in assigning price target to a stock, some analysts adopt a bearish approach by advocating lower-than-average price target which in this case is $3.00 while some adopt bullish approach by assigning higher-than-average price target which reads the price to top $12.00. Average price target assigned by them is $6.71 which highlights an upside potential of 77.35% for the stock over that period. And to attain the median price target of $7.00 assigned by those analysts, stock has to add about 78.29% of value to its current levels.
Data by FactSet Research shows that 9 analysts have issued their ratings for the stock. 0 of them are in opinions that stock is a Sell, while 0 are advising it as an Overweight. 5 analysts suggested the investors to Buy the stock while 4 advised them to Hold. Recommendations by all of those brokerages imply a consensus rating of Overweight for the stock and that issued by Wall Street to investors is Moderate Buy.
Cowen downgraded its recommendation for the stock as a “Market Perform” from “Outperform” on November 10, 2022 while assigning a price target range of $10-$3. Credit Suisse also issued its recommendations for the stock as it downgraded the price target for the stock in the range of between $10 and $5.
Over the week, CANO’s stock price is moving -19.15% down while it is -63.55% when we observe its performance for the past one month. Year-to-date it is -82.94% down and over the past year, the stock is showing a downside performance of -83.50%.
The latest quarterly earnings report issued by the company was for quarter ended 6/29/2022, when its quarterly earnings per share (EPS) of -$0.03 beat the consensus estimate of -$0.05 for the same. For CANO, analysts are forecasting an EPS-growth rate of 18.20% for current year and estimate for EPS growth in next year is -22.20%. In next quarter, company is expected to be making quarterly sales of $744.82 million as analysts are expecting the sales for current fiscal year at $2.85 billion and seeing the company making $3.75 billion in sales next year. Moreover, analysts are in estimates of $717.93 million for current-quarter revenue.
Currently, Cano Health Inc.’s total number of outstanding shares is 232.31M with 31.95% of that held by the insiders while 72.22% of its common stock has been owned by the institutions. Company’s return on investment (ROI) stands at -11.90% and return on equity (ROE) at -18.80%. Stock has a price to book (P/B) ratio of 0.87 while price to sale or P/S ratio amounts to 0.34. Its return on asset (ROA) is -3.30% on average.
A filing at the U.S. Securities and Exchange Commission revealed that Fidelity Select Port – Health Ca came shrinking its share ownership by 0.47% in the Cano Health Inc. (CANO) increasing its stake to 3.53% with control over 40163.0 shares in the company. As per SEC documents, Fidelity Select Port – Health Ca shunned 8,640,163 of company’s common stock of worth $30.93 million as per recent closing price of the stock. Fidelity Select Port – Health Ca is not the only institutional holder which restructured its stake in Cano Health Inc., as Fidelity Advisor Series I -Growth dumped 6,550,745 shares of worth $23.45 million to bring its holdings to a total of -0.17 million shares. In the most recent quarter, JPMorgan Small Cap Growth Fund came cutting its stake by -0.73% in the company and now holds 5.77 million or 2.49% of the company’s stake having worth of about 20.65 million.