Claritev (NYSE:CTEV) Trading Up 9.7% – Here’s Why

Claritev (NYSE:CTEV) was up 9.7% on Thursday . The stock traded as high as $33.46 and last traded at $33.46. Approximately 60,726 shares changed hands during trading, a decline of 66% from the average daily volume of 177,048 shares. The stock had previously closed at $30.49.

Analyst Upgrades and Downgrades

CTEV has been the subject of a number of analyst reports. Barclays began coverage on Claritev in a research report on Friday, April 24th. They issued an “overweight” rating and a $28.00 price target for the company. Wells Fargo & Company cut their price objective on Claritev from $30.00 to $22.00 and set an “equal weight” rating for the company in a research note on Thursday, March 19th. Wall Street Zen lowered shares of Claritev from a “hold” rating to a “sell” rating in a report on Saturday, April 25th. Piper Sandler set a $61.00 price target on shares of Claritev in a report on Wednesday, June 3rd. Finally, Canaccord Genuity Group began coverage on shares of Claritev in a research report on Friday, May 29th. They issued a “buy” rating and a $32.00 price target for the company. Five investment analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $33.67.

Claritev Stock Up 9.7%

The stock has a market cap of $570.32 million, a P/E ratio of -1.93 and a beta of 0.77. The business has a 50 day moving average price of $24.94 and a two-hundred day moving average price of $25.48.

Institutional Investors Weigh In On Claritev

Several institutional investors and hedge funds have recently modified their holdings of CTEV. State of Wyoming purchased a new position in shares of Claritev in the fourth quarter worth $25,000. Public Employees Retirement System of Ohio purchased a new position in Claritev during the first quarter valued at $38,000. Ameritas Investment Partners Inc. bought a new stake in Claritev in the 3rd quarter valued at $42,000. Legal & General Group Plc bought a new stake in Claritev in the 3rd quarter valued at $45,000. Finally, Los Angeles Capital Management LLC purchased a new stake in Claritev in the 4th quarter worth $45,000. Institutional investors own 87.15% of the company’s stock.

About Claritev

Claritev is a healthcare technology, data and insights company focused on improving affordability,  transparency and quality. Led by deeply experienced associates, data scientists, and innovators, Claritev provides tech-enabled solutions and services fueled by multiple data sources from over 40 years of claims repricing. Claritev utilizes world-class technology and AI solutions to power a robust enterprise platform that delivers meaningful insights to drive affordability in healthcare, brings price transparency and optimizes networks and benefits design.