Cano Health Inc. (CANO): A Technical View

As of Friday close, Cano Health Inc.’s (NYSE:CANO) stock was up $0.68, moving up 15.21 percent to $5.15. The average number of shares traded per day over the past five days has been 4,690,700 shares. 2 times new highs have been achieved over the past 5 days, with a $0.34 gain in that time frame. In the last twenty days, the average volume was 3,297,940, while in the previous 50 days, it was 3,805,014.


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Since last month, CANO stock retreated -1.34%. Shares of the company fell to $3.81 on 05/10/22, the lowest level in the past month. A 52-week high of $16.17 was reached on 01/03/22 after having rallying from a 52-week low of $3.81. Since the beginning of this year, CANO’s stock price has dropped by -42.20% or -$3.76, and marked a new high 1 time. However, the stock has declined by -68.15% since its 52-week high.

Cano Health Inc. (CANO) last reported insider trading activity 58 days ago on Mar 17. Gold Lewis, the Director of the company, purchased of 300,000 shares for $6.81 on Mar 17. It resulted in a $2,043,000 investment by the insider. Hernandez Marlow added 15,000 shares at an average price of $8.00 on Dec 06. The insider now owns 2,891,962 shares following the transaction. On Dec 03, CEO and President Hernandez Marlow bought 12,500 shares at $8.75 apiece. The transaction was valued at $109,375.

Financial Health

In the three months ended September 29, Cano Health Inc.’s quick ratio stood at 2.00, while its current ratio was 2.00, showing that the company is able to pay off its debt. According to company report, the long-term debt-to-equity ratio for the quarter ending September 29 was 2.88, and the total debt-to-equity ratio was 2.91. In the year ended September 29, operating margins totaled -9.20%. Based on annual data, CANO earned $1.74 billion in gross profit and brought in $1.61 billion in revenue.

A company’s management is another factor that investors consider when determining the profitability of an investment. In the past year, return on investment (ROI) was -11.90%. Return on equity (ROE) for the past 12 months was -7.00%.

In Cano Health Inc.’s quarter-end financial report for September 29, it reported total debt of $915.74 million. According to the earnings report, the company had a higher net income in the recent quarter than it did in the previous quarter. CANO’s revenue rose 100.0% to -$919.96 million during the quarter, while net income inched up to $704.34 million. While analysts expected Cano Health Inc. to report -$0.01 quarterly earnings, the actual figure was -$0.09 per share. During the quarter, the company generated $8.33 million in EBITDA. The liabilities of Cano Health Inc. were 1.33 billion at the end of its most recent quarter ended September 29, and its total debt was $927.14 million. The value of shareholders’ equity is $484.47 million.

Technical Picture

This quick technical analysis looks at Cano Health Inc.’s (CANO) price momentum. With a historical volatility rate of 125.65%, the RSI 9-day stood at 53.61% on 13 May.

With respect to its five-day moving average, the current Cano Health Inc. price is up by +7.07% percent or $0.34. At present, CANO shares trade +1.58% above its 20-day simple moving average and -43.96% percent below its 100-day simple moving average. However, the stock is currently trading approximately +5.10% above its SMA50 and -51.96% below its SMA200.

Stochastic coefficient K was 40.17% and Stochastic coefficient D was 26.43%, while ATR was 0.54. Given the Stochastic reading of 68.72% for the 14-day period, the RSI (14) reading has been calculated as 49.72%. As of today, the MACD Oscillator reading stands at -0.23, while the 14-day reading stands at -0.46.

Analyst Ratings

BofA Securities launched its rating on Cano Health Inc. (NYSE: CANO) to a Buy in a note to investors on May 03, 2022. Cano Health Inc. (CANO) has been rated Buy by analysts. According to 1 brokerage firm, CANO is a sell, and 0 firms recommend it is a Hold. There are 0 analysts who say the stock is underweight. A total of 0 analysts rate Cano Health Inc. stock as buy, with 8 recommending it as overweight.

With a median target price of $10.00, the current consensus forecast for the stock is $4.00 – $16.00. Based on these forecasts, analysts predict Cano Health Inc. (CANO) will achieve an average price target of $10.44.

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