Performant Financial Corp (NASDAQ:PFMT) shares passed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of $1.59 and traded as high as $1.21. Performant Financial shares last traded at $1.21, with a volume of 32 shares.

PFMT has been the subject of a number of analyst reports. ValuEngine downgraded shares of Performant Financial from a “buy” rating to a “hold” rating in a research note on Wednesday, September 4th. William Blair reissued a “market perform” rating on shares of Performant Financial in a research report on Monday, August 19th. Finally, Zacks Investment Research downgraded Performant Financial from a “hold” rating to a “sell” rating in a research note on Friday, August 23rd.

The company has a quick ratio of 1.62, a current ratio of 1.62 and a debt-to-equity ratio of 0.90. The company has a fifty day simple moving average of $1.19 and a 200 day simple moving average of $1.59. The firm has a market capitalization of $61.71 million, a P/E ratio of -3.75 and a beta of 0.22.

Performant Financial (NASDAQ:PFMT) last issued its quarterly earnings results on Tuesday, August 13th. The business services provider reported ($0.13) earnings per share for the quarter, missing the consensus estimate of ($0.11) by ($0.02). The company had revenue of $35.83 million for the quarter, compared to the consensus estimate of $36.20 million. Performant Financial had a negative net margin of 20.11% and a negative return on equity of 32.75%. As a group, equities analysts expect that Performant Financial Corp will post -0.41 earnings per share for the current fiscal year.

A number of hedge funds have recently made changes to their positions in the stock. Paloma Partners Management Co bought a new stake in Performant Financial during the 2nd quarter valued at about $36,000. BlackRock Inc. raised its holdings in Performant Financial by 5.8% in the second quarter. BlackRock Inc. now owns 174,050 shares of the business services provider’s stock worth $183,000 after buying an additional 9,537 shares during the last quarter. Mirador Capital Partners LP raised its holdings in Performant Financial by 15.5% in the second quarter. Mirador Capital Partners LP now owns 192,445 shares of the business services provider’s stock worth $202,000 after buying an additional 25,762 shares during the last quarter. Vanguard Group Inc. lifted its stake in shares of Performant Financial by 92.3% in the second quarter. Vanguard Group Inc. now owns 895,851 shares of the business services provider’s stock worth $941,000 after buying an additional 429,909 shares in the last quarter. Finally, Renaissance Technologies LLC lifted its stake in shares of Performant Financial by 1.2% in the second quarter. Renaissance Technologies LLC now owns 944,839 shares of the business services provider’s stock worth $992,000 after buying an additional 10,900 shares in the last quarter. 56.47% of the stock is currently owned by institutional investors.

About Performant Financial (NASDAQ:PFMT)

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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