Performant Financial Corp (NASDAQ:PFMT) Sees Significant Decrease in Short Interest
Performant Financial Corp (NASDAQ:PFMT) was the recipient of a large decline in short interest in June. As of June 30th, there was short interest totalling 117,500 shares, a decline of 24.8% from the May 30th total of 156,200 shares. Currently, 0.3% of the company’s stock are sold short. Based on an average daily volume of 59,800 shares, the days-to-cover ratio is currently 2.0 days.
A hedge fund recently bought a new stake in Performant Financial stock. Wagner Bowman Management Corp purchased a new position in shares of Performant Financial Corp (NASDAQ:PFMT) in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund purchased 13,000 shares of the business services provider’s stock, valued at approximately $26,000. 57.07% of the stock is currently owned by hedge funds and other institutional investors.
PFMT traded down $0.03 on Friday, hitting $1.27. 10,549 shares of the company were exchanged, compared to its average volume of 161,815. Performant Financial has a twelve month low of $1.00 and a twelve month high of $2.86. The stock has a market capitalization of $67.50 million, a P/E ratio of -3.97 and a beta of 0.18. The company has a current ratio of 1.34, a quick ratio of 1.34 and a debt-to-equity ratio of 0.71. The business has a 50-day moving average price of $1.30.
PFMT has been the subject of several analyst reports. ValuEngine cut Zumiez from a “hold” rating to a “sell” rating in a research note on Tuesday, July 2nd. Zacks Investment Research cut Farmers & Merchants Bancorp, Inc. (OH) from a “hold” rating to a “strong sell” rating in a research note on Thursday, May 9th.
About Performant Financial
Performant Financial Corporation provides technology-enabled audit, recovery, outsource customer, and related analytics services in the United States. The company offers recovery services primarily to the government-supported student loan industry serving guaranty agencies, private financial institutions, and the Department of Education; and restructures and recovers student loans issued directly by banks to students outside of federal lending programs.
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