Performant Healthcare, Inc. – Common Stock (NASDAQ:PHLT) Trading 3.7% Higher – Here’s What Happened

Performant Healthcare, Inc. – Common Stock (NASDAQ:PHLT)’s stock price traded up 3.7% during mid-day trading on Friday . The company traded as high as $3.12 and last traded at $3.11. 95,551 shares were traded during trading, a decline of 39% from the average session volume of 157,042 shares. The stock had previously closed at $3.00.

Analyst Upgrades and Downgrades

Separately, B. Riley raised Performant Healthcare, Inc. – Common Stock to a “strong-buy” rating in a research report on Wednesday, March 12th.

Performant Healthcare, Inc. – Common Stock Stock Performance

The company’s 50 day moving average is $2.60. The stock has a market capitalization of $243.54 million, a price-to-earnings ratio of -31.10 and a beta of 0.30. The company has a current ratio of 2.67, a quick ratio of 2.67 and a debt-to-equity ratio of 0.11.

Performant Healthcare, Inc. – Common Stock (NASDAQ:PHLT) last announced its quarterly earnings results on Thursday, May 8th. The company reported $0.02 EPS for the quarter, topping the consensus estimate of ($0.02) by $0.04. The company had revenue of $33.27 million for the quarter, compared to analyst estimates of $29.92 million. Performant Healthcare, Inc. – Common Stock had a negative net margin of 6.74% and a negative return on equity of 10.19%. As a group, analysts expect that Performant Healthcare, Inc. – Common Stock will post -0.13 EPS for the current fiscal year.

Insider Transactions at Performant Healthcare, Inc. – Common Stock

In related news, Director Lisa Im sold 180,867 shares of Performant Healthcare, Inc. – Common Stock stock in a transaction on Tuesday, June 3rd. The shares were sold at an average price of $3.25, for a total value of $587,817.75. Following the transaction, the director now owns 1,229,413 shares in the company, valued at $3,995,592.25. This trade represents a 12.82% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. 9.20% of the stock is currently owned by corporate insiders.

About Performant Healthcare, Inc. – Common Stock

Performant Healthcare, Inc engages in the provision of technology-enabled audit, recovery, customer care, and related analytics services. Its services help identify improper payments, and in some markets, restructure and recover delinquent or defaulted assets and improper payments for both government and private clients.