MultiPlan Corp (NYSE:MPLN) finished Friday with an addition of $0.05 to close at $1.68, an upside of 3.07 percent. An average of 953,880 shares of common stock have been traded in the last five days. The last 20 days have seen an average of 1,210,050 shares traded, while the 50-day average volume stands at 1,385,434.
MPLN stock has increased by 1.20% in the last month. The company shares reached their 1-month lowest point of $1.5000 on 09/15/23. With the stock rallying to its 52-week high on 06/28/23, shares of the company touched a low of $0.61 and a high of $3.01 in 52 weeks. It has reached a new high 18 times so far this year and achieved 46.09% or $0.5300 in price. In spite of this, the price is down -44.19% from the 52-week high.
Valuation Metrics
MultiPlan Corp (MPLN) stock’s beta is 0.99. Other valuation ratios to consider include the trailing price-to-sales (P/S) ratio at 1.14, the price-to-book (PB) ratio at 0.62, and the price-to-cash flow ratio at 9.81.
Financial Health
The quick ratio of MultiPlan Corp for the three months ended June 29 was 1.42, and the current ratio was 1.42, indicating that the company is able to meet its debt obligations. Further, the company has a long term debt to equity ratio of 2.61 and a total debt to equity ratio of 2.62 for the quarter ending June 29. Its gross profit as reported stood at $875.62 million compared to revenue of $1.08 billion.
Earnings Surprise
For the three-month period that ended June 29, MultiPlan Corp had $4.6 billion in total debt. In the quarter under review, the net income was up than the previous quarter. The company posted a net income of -$36.37 million in the quarter, while revenues were grew 137.15%. The analyst consensus anticipated MultiPlan Corp’s latest quarter earnings to come in at -$0.05 per share, but it turned out to be -$0.06, a -20.00% surprise. For the quarter, EBITDA amounted to $140.7 million. Shareholders own equity worth $649.48 million.
Technical Picture
From a technical analysis perspective, let’s take a brief look at MultiPlan Corp (MPLN) price momentum. RSI 9-day as of the close on 29 September was 45.64%, suggesting the stock is Neutral, with historical volatility in this time frame at 62.38%.
As of today, MPLN’s price is $1.7040 unch or $unch from its 5-day moving average. MPLN is currently trading -1.75% lower than its 20-day SMA and +114.70% higher than its 100-day SMA. However, the stock’s current price level is -13.85% below the SMA50 and +8.39% above the SMA200.
The stochastic %K and %D were 43.46% and 45.73%, respectively, and the average true range (ATR) was 0.1167. With the 14-day stochastic at 43.90% and the average true range at 0.1188, the RSI (14) stands at 46.22%. The stock has reached -0.0389 on the 9-day MACD Oscillator while the 14-day reading was at -0.0350.
Analyst Ratings
Citigroup downgraded MultiPlan Corp (NYSE: MPLN) to a a Neutral rating in its most recent analyst report. Previously, the stock was rated as a Buy. The consensus rating for MultiPlan Corp (MPLN) among analysts is Overweight. According to current brokerage recommendations, 0 brokerage firms advise that investors sell MPLN, while 1 suggest investors hold. There are 0 analysts who rate the stock as underweight. The stock is rated overweight by 0 analysts, while 1 others rate it as a “buy”.
What is MPLN’s price target for the next 12 months?
Analysts predict a range of price targets between $2.25 and $3.00, with a median target of $2.63. Taking a look at these predictions, the average price target given by analysts for MultiPlan Corp (MPLN) stock is $2.63.
