Clarivate (NYSE:CLVT) Sets New 12-Month Low – Should You Sell?

Clarivate PLC (NYSE:CLVT)’s share price reached a new 52-week low during trading on Tuesday . The stock traded as low as $1.74 and last traded at $1.8150, with a volume of 4036527 shares trading hands. The stock had previously closed at $1.81.

Wall Street Analysts Forecast Growth

CLVT has been the subject of several recent research reports. Weiss Ratings restated a “sell (e+)” rating on shares of Clarivate in a research note on Monday, December 29th. The Goldman Sachs Group downgraded Clarivate from a “buy” rating to a “neutral” rating and dropped their target price for the stock from $4.20 to $3.60 in a report on Thursday, January 8th. Wall Street Zen upgraded shares of Clarivate from a “hold” rating to a “buy” rating in a research note on Saturday, February 7th. Finally, Morgan Stanley reaffirmed an “underweight” rating and set a $3.00 price target (down from $5.00) on shares of Clarivate in a research report on Wednesday, December 17th. Four analysts have rated the stock with a Hold rating and two have given a Sell rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Reduce” and an average target price of $4.28.

Clarivate Stock Performance

The stock has a 50 day moving average of $2.99 and a 200 day moving average of $3.55. The company has a quick ratio of 0.87, a current ratio of 0.87 and a debt-to-equity ratio of 0.90. The firm has a market cap of $1.18 billion, a price-to-earnings ratio of -3.14 and a beta of 1.51.

Insider Buying and Selling at Clarivate

In related news, insider Bar Veinstein sold 309,902 shares of Clarivate stock in a transaction that occurred on Monday, December 1st. The shares were sold at an average price of $3.74, for a total value of $1,159,033.48. Following the transaction, the insider directly owned 848,811 shares of the company’s stock, valued at $3,174,553.14. This trade represents a 26.75% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Company insiders own 23.18% of the company’s stock.

Hedge Funds Weigh In On Clarivate

Several hedge funds and other institutional investors have recently modified their holdings of CLVT. M&T Bank Corp acquired a new position in shares of Clarivate during the 4th quarter worth $34,000. Essex Financial Services Inc. acquired a new position in Clarivate during the third quarter worth about $41,000. PharVision Advisers LLC bought a new position in shares of Clarivate in the third quarter worth about $45,000. Pitcairn Co. acquired a new stake in shares of Clarivate in the 2nd quarter valued at approximately $52,000. Finally, Jump Financial LLC bought a new stake in shares of Clarivate during the 4th quarter valued at approximately $41,000. Institutional investors own 85.72% of the company’s stock.

About Clarivate

Clarivate plc is a global information and analytics company that provides insights and workflow solutions to accelerate the pace of innovation. The company delivers proprietary data, analytics, and expertise to support research and development in the life sciences, intellectual property management, academic institutions, government agencies, and corporations. Its core offerings include citation and patent databases, drug pipeline analytics, trademark research tools, regulatory compliance solutions, and market intelligence platforms.

Originally part of Thomson Reuters’ Intellectual Property & Science division, Clarivate was established as an independent entity in 2016 following a spin-off transaction.