ModivCare Inc. (NASDAQ:MODV) finished Friday with an addition of $3.76 to close at $40.06, an upside of 10.36 percent. An average of 424,700 shares of common stock have been traded in the last five days. There was a gain of $4.68 in the past week, and it reached a new high 3 times over the past 12 months. The last 20 days have seen an average of 237,865 shares traded, while the 50-day average volume stands at 164,554.
MODV stock has decreased by -19.83% in the last month. The company shares reached their 1-month lowest point of $32.01 on 08/04/23. With the stock rallying to its 52-week high on 01/24/23, shares of the company touched a low of $32.01 and a high of $121.54 in 52 weeks. It has reached a new high 14 times so far this year and lost -55.35% or -$49.67 in price. In spite of this, the price is down -67.04% from the 52-week high.
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Valuation Metrics
ModivCare Inc. (MODV) stock’s beta is 0.71. Other valuation ratios to consider include the trailing price-to-sales (P/S) ratio at 0.24, the price-to-book (PB) ratio at 1.62.
Financial Health
The quick ratio of ModivCare Inc. for the three months ended June 29 was 0.70, and the current ratio was 0.70, indicating that the company is not able to meet its debt obligations. Further, the company has a long term debt to equity ratio of 2.79 and a total debt to equity ratio of 2.84 for the quarter ending June 29. ModivCare Inc.’s EBITDA margin for the year ending June 29 is 6.54%, while its operating margin for the same period stands at 2.20%. Its gross profit as reported stood at $472.32 million compared to revenue of $2.5 billion.
For investors, determining the potential profitability of the investment also depends on the performance of the company’s management. In the past 12 months, ModivCare Inc.’s return on assets was -1.60%.
Earnings Surprise
For the three-month period that ended June 29, ModivCare Inc. had $981.53 million in total debt. In the quarter under review, the net income was up than the previous quarter. The company posted a net income of -$190.94 million in the quarter, while revenues of -$3.96 million were grew 100.17%. The analyst consensus anticipated ModivCare Inc.’s latest quarter earnings to come in at $1.62 per share, but it turned out to be $1.47, a -9.30% surprise. For the quarter, EBITDA amounted to $34.54 million. Shareholders own equity worth $14.18 million.
Technical Picture
From a technical analysis perspective, let’s take a brief look at ModivCare Inc. (MODV) price momentum. RSI 9-day as of the close on 11 August was 47.75%, suggesting the stock is Neutral, with historical volatility in this time frame at 128.63%.
As of today, MODV’s price is $37.18 +13.23% or $4.68 from its 5-day moving average. MODV is currently trading -25.70% lower than its 20-day SMA and -49.37% lower than its 100-day SMA. However, the stock’s current price level is -10.84% below the SMA50 and -54.84% below the SMA200.
The stochastic %K and %D were 31.73% and 24.16%, respectively, and the average true range (ATR) was 3.75. With the 14-day stochastic at 49.94% and the average true range at 3.39, the RSI (14) stands at 44.16%. The stock has reached 0.72 on the 9-day MACD Oscillator while the 14-day reading was at -2.01.
Analyst Ratings
Stephens launched coverage on ModivCare Inc. (NASDAQ: MODV) in its analyst report released on August 03, 2022. The firm assigned the stock an Overweight rating.
