MultiPlan Corp (NYSE:MPLN) saw a downside of -6.15% to close Friday at $1.68 after subtracting -$0.11 on the day. The 5-day average trading volume is 889,720 shares of the company’s common stock. It has gained $1.8200 in the past week and touched a new high 2 times within the past 5 days. An average of 1,155,545 shares of the company has been traded in the last 20 days, and the 50-day average volume stands at 1,425,208.
MPLN’s 1-month performance is 5.66% or $0.1100 on its low of $1.5000 reached on 09/15/23. The company’s shares have touched a 52-week low of $0.61 and high of $3.07, with the stock’s rally to the 52-week high happening on 06/28/23. YTD, MPLN has achieved 46.09% or $0.5300 and has reached a new high 18 times. However, the current price is down -45.19% from the 52-week high price.
Valuation Metrics
MPLN stock has a beta of 0.95. Moving on to other valuation ratios, the trailing price-to-sales (P/S) ratio is 1.14 while the price-to-book (PB) in the most recent quarter is 0.62, with the price to cash flow ratio at 9.81.
MultiPlan Corp’s quick ratio for the period ended June 29 was 1.42, with the current ratio over the same period at 1.42. As well, the company’s long term debt to equity for the quarter ending June 29 was 2.61, while the total debt to equity was 2.62. In terms of profitability, the gross margin trailing 12 months is 34.38%. The trailing 12-month EBITDA margin is 69.45% while for the period ending June 29, MultiPlan Corp’s operating margin was 21.16%. The firm’s gross profit as reported stood at $875.62 million against revenue of $1.08 billion.
Earnings Surprise
For the quarterly period ending June 29 this year, Net income and sales went up compared to those figures reported in the previous quarter. Net income grew 137.15% to -$36.37 million, while revenue of $0.21 million was 100.58% off the previous quarter. Analysts expected MPLN to announce -$0.05 per share in earnings in its latest quarter, but it posted -$0.06, representing a -20.00% surprise. EBITDA for the quarter stood at more than $140.7 million. MPLN stock balance sheet for the quarter ending June 29 shows that total liabilities totaled 5.37 billion, with total debt at $4.64 billion. Shareholders hold equity totaling $649.48 million.
Let’s look briefly at MultiPlan Corp (MPLN) price momentum from a technical analysis perspective. The 9-day relative strength index as at close on 22 September was 44.05% to suggest the stock is trending Neutral, with historical volatility in this time period at 79.42%.
The stock’s 5-day moving average is $1.7220, reflecting a -1.18% or -$0.0200 change from its current price. MPLN is currently trading +9.09% above its 20-day SMA, +76.10% above its 100-day SMA. However, the stock’s current price level is away from the SMA50 by -15.15% and SMA200 by+7.69%.
Stochastic %K and %D was 50.00% and 48.00% and the average true range (ATR) pointed at 0.1289. The RSI (14) points at 45.28%, while the 14-day stochastic is at 36.00% with the period’s ATR at 0.1262. The stock’s 9-day MACD Oscillator is pointing at 0.0289 and -0.0250 on the 14-day charts.
Analyst Ratings
In the most recent analyst report for MultiPlan Corp (NYSE: MPLN), Citigroup downgraded it to a Neutral rating. They previously had a Buy rating on the stock. Analysts offering their rating for MPLN stock have a consensus rating for the stock as Overweight. Currently, 0 brokerage advisors rate MPLN as a “sell,”, while 1 advise that investors “Hold.” 0 analysts have rated the stock as underweight. 0 rates the stock as overweight while 1 have offered a “buy” rating.
What is MPLN’s price target for the next 12 months?
Analysts have a consensus price target ranging from a low of $2.25 and a high of $3.00, with their median price target at $2.63. Looking at these predictions, the average price target given by analysts is for MultiPlan Corp (MPLN) stock is $2.63.
