Clarivate (NYSE:CLVT) Shares Down 4.9% – Should You Sell?

Clarivate PLC (NYSE:CLVT)’s share price fell 4.9% on Monday. The company traded as low as $2.20 and last traded at $2.2250. 429,116 shares traded hands during mid-day trading, a decline of 93% from the average daily volume of 5,995,883 shares. The stock had previously closed at $2.34.

Analyst Upgrades and Downgrades

CLVT has been the topic of several recent research reports. The Goldman Sachs Group dropped their target price on Clarivate from $2.60 to $2.30 and set a “neutral” rating on the stock in a research report on Thursday. Stifel Nicolaus reduced their price target on Clarivate from $6.00 to $5.00 and set a “buy” rating for the company in a research report on Thursday, July 30th. Citigroup cut their target price on Clarivate from $2.80 to $2.50 and set a “neutral” rating for the company in a research note on Thursday, July 30th. William Blair lowered shares of Clarivate to a “market perform” rating in a research report on Thursday, October 15th. Finally, Wall Street Zen lowered shares of Clarivate from a “buy” rating to a “hold” rating in a report on Saturday, August 1st. One equities research analyst has rated the stock with a Buy rating, five have assigned a Hold rating and three have assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Reduce” and an average price target of $2.65.

Clarivate Stock Down 1.1%

The company has a quick ratio of 0.88, a current ratio of 0.88 and a debt-to-equity ratio of 0.92. The company has a market cap of $1.48 billion, a PE ratio of -3.80 and a beta of 1.38. The stock has a 50-day moving average of $1.82 and a 200-day moving average of $2.20.

Clarivate (NYSE:CLVT) last posted its quarterly earnings data on Tuesday, November 3rd. The company reported $0.21 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.18 by $0.03. Clarivate had a positive return on equity of 9.84% and a negative net margin of 17.02%. The company had revenue of $481.60 million during the quarter, compared to analyst estimates of $566.77 million. During the same quarter last year, the company earned $0.18 earnings per share. The firm’s quarterly revenue was down 22.7% on a year-over-year basis. Sell-side analysts predict that Clarivate PLC will post 0.64 earnings per share for the current fiscal year.

Institutional Trading of Clarivate

Several institutional investors and hedge funds have recently modified their holdings of CLVT. Jefferies Financial Group Inc. purchased a new position in shares of Clarivate during the third quarter worth about $425,000. Abacus Wealth Partners LLC bought a new position in shares of Clarivate in the third quarter worth approximately $42,000. Commonwealth Equity Services LLC bought a new position in shares of Clarivate in the third quarter worth approximately $30,000. Vise Technologies Inc. raised its stake in Clarivate by 50.4% in the third quarter. Vise Technologies Inc. now owns 37,327 shares of the company’s stock valued at $62,000 after purchasing an additional 12,512 shares in the last quarter. Finally, State of Wyoming raised its stake in Clarivate by 120.1% in the third quarter. State of Wyoming now owns 170,100 shares of the company’s stock valued at $284,000 after purchasing an additional 92,811 shares in the last quarter. Hedge funds and other institutional investors own 85.72% of the company’s stock.

Clarivate Company Profile

Clarivate Plc (NYSE:CLVT) provides analytics, data, and workflow solutions to organizations in academia, government, research, life sciences, and intellectual property. Its offerings are designed to help customers evaluate research, manage information, accelerate innovation, and support strategic decision-making.

The company’s products include Web of Science research databases and citation analytics, InCites research evaluation tools, Derwent innovation and patent intelligence services, and Cortellis life sciences and drug-development information.