Performant Financial Corp (NASDAQ:PFMT) shares crossed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $1.55 and traded as high as $1.17. Performant Financial shares last traded at $1.17, with a volume of 231 shares changing hands.

Several brokerages recently issued reports on PFMT. Zacks Investment Research lowered shares of Performant Financial from a “hold” rating to a “sell” rating in a research report on Friday, August 23rd. ValuEngine lowered shares of Performant Financial from a “buy” rating to a “hold” rating in a research report on Wednesday, September 4th. Finally, William Blair restated a “market perform” rating on shares of Performant Financial in a research report on Monday, August 19th.

The firm’s 50-day moving average is $1.17 and its 200-day moving average is $1.55. The company has a debt-to-equity ratio of 0.90, a current ratio of 1.62 and a quick ratio of 1.62. The company has a market capitalization of $62.24 million, a P/E ratio of -3.66 and a beta of 0.22.

Performant Financial (NASDAQ:PFMT) last announced its earnings results on Tuesday, August 13th. The business services provider reported ($0.13) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.11) by ($0.02). The business had revenue of $35.83 million for the quarter, compared to the consensus estimate of $36.20 million. Performant Financial had a negative net margin of 20.11% and a negative return on equity of 32.75%. As a group, analysts forecast that Performant Financial Corp will post -0.41 EPS for the current fiscal year.

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Paloma Partners Management Co bought a new stake in Performant Financial during the second quarter valued at approximately $36,000. BlackRock Inc. grew its position in Performant Financial by 5.8% during the second quarter. BlackRock Inc. now owns 174,050 shares of the business services provider’s stock valued at $183,000 after buying an additional 9,537 shares during the period. Mirador Capital Partners LP grew its position in Performant Financial by 15.5% during the second quarter. Mirador Capital Partners LP now owns 192,445 shares of the business services provider’s stock valued at $202,000 after buying an additional 25,762 shares during the period. Vanguard Group Inc. grew its position in Performant Financial by 92.3% during the second quarter. Vanguard Group Inc. now owns 895,851 shares of the business services provider’s stock valued at $941,000 after buying an additional 429,909 shares during the period. Finally, Renaissance Technologies LLC grew its position in Performant Financial by 1.2% during the second quarter. Renaissance Technologies LLC now owns 944,839 shares of the business services provider’s stock valued at $992,000 after buying an additional 10,900 shares during the period. Institutional investors own 56.47% of the company’s stock.

Performant Financial Company Profile (NASDAQ:PFMT)

Performant Financial Corporation provides technology-enabled audit, recovery, outsource customer, and related analytics services in the United States. The company offers recovery services primarily to the government-supported student loan industry serving guaranty agencies, private financial institutions, and the Department of Education; and restructures and recovers student loans issued directly by banks to students outside of federal lending programs.

Read More: Understanding the Price to Earnings Ratio (PE)

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