MultiPlan Corp (NYSE:MPLN) price on Friday, December 27, rose 39.49% above its previous day’s close as an upside momentum from buyers pushed the stock’s value to $17.52.
A look at the stock’s price movement, the close in the last trading session was $12.56, moving within a range at $12.25 and $18.98. The beta value (5-Year monthly) was 0.64. Turning to its 52-week performance, $69.20 and $4.80 were the 52-week high and 52-week low respectively. Overall, MPLN moved 151.36% over the past month.
MultiPlan Corp’s market cap currently stands at around $283.32 million, with investors looking forward to this quarter’s earnings report slated for in January.
Analysts have a consensus estimate of 234.77M for the company’s revenue for the quarter, with a low and high estimate of 232.81M and 236.74M respectively. The average forecast suggests down to a -3.82% growth in sales growth compared to quarterly growth in the same period last fiscal year. Wall Street analysts have also projected the company’s year-on-year revenue to grow to 933.25M, representing a -2.94% decline on that reported in the last financial year.
Turning to the stock’s technical picture we see that short term indicators suggest on average that MPLN is a 50% Sell. On the other hand, the stock is on average a 50% Sell as suggested by medium term indicators while long term indicators are putting the stock in 50% Buy category.
1 analyst(s) have given their forecast ratings for the stock on a scale of 1.00-5.00 for a strong buy to strong sell recommendation. A total of 1 analyst(s) rate the stock as a Hold, 0 recommend MPLN as a Buy and 0 give it an Overweight rating. Meanwhile, 0 analyst(s) rate the stock as Underweight and 0 say it is a Sell. As such, the average rating for the stock is Hold which could provide an opportunity for investors keen on increasing their holdings of the company’s stock.
MPLN’s current price about 115.80% and 108.76% off the 20-day and 50-day simple moving averages respectively. The Relative Strength Index (RSI, 14) currently prints 83.65, while 7-day volatility ratio is 44.21% and 18.13% in the 30-day chart. Further, MultiPlan Corp (MPLN) has a beta value of 0.53, and an average true range (ATR) of 1.70. Analysts have given the company’s stock an average 52-week price target of $10, forecast between a low of $10 and high of $10. Looking at the price targets, the low is 42.92% off current price level while to achieve the yearly target high, price needs to move 42.92%. Nonetheless, investors will most likely welcome a 42.92% jump to $10 which is the analysts’ median price.
If we refocus on MultiPlan Corp (NYSE:MPLN), historical trading data shows that trading volumes averaged 0.34 over the past 10 days and 113.51K over the past 3 months. The company’s latest data on shares outstanding shows there are 16.17 million shares.
The 59.33% of MultiPlan Corp’s shares are in the hands of company insiders while institutional holders own 30.63% of the company’s shares. Also important is the data on short interest which shows that short shares stood at 0.35 million on 2024-11-29, giving us a short ratio of 4.5. The data shows that as of 2024-11-29 short interest in MultiPlan Corp (MPLN) stood at 354.0 of shares outstanding, with shares short rising to 0.23 million registered in 2024-10-31. Current price change has pushed the stock -69.58% YTD, which shows the potential for further growth is there. It is this reason that could see investor optimism for the MPLN stock continues to rise going into the next quarter.
