Cano Health (NYSE:CANO) Sets New 1-Year Low at $1.50

Cano Health, Inc. (NYSE:CANOGet Rating)’s stock price hit a new 52-week low during mid-day trading on Tuesday . The company traded as low as $1.50 and last traded at $1.50, with a volume of 335504 shares traded. The stock had previously closed at $1.54.

Wall Street Analyst Weigh In

CANO has been the subject of a number of research analyst reports. Cowen cut Cano Health from an “outperform” rating to a “market perform” rating and reduced their price objective for the stock from $10.00 to $3.00 in a report on Thursday, November 10th. Raymond James downgraded shares of Cano Health from an “outperform” rating to a “market perform” rating in a research report on Thursday, November 10th. Credit Suisse Group downgraded shares of Cano Health from an “outperform” rating to a “neutral” rating and dropped their price target for the company from $10.00 to $5.00 in a research report on Thursday, October 27th. Bank of America dropped coverage on shares of Cano Health in a research report on Friday, September 23rd. Finally, Cowen downgraded shares of Cano Health from an “outperform” rating to a “market perform” rating and dropped their price target for the company from $10.00 to $3.00 in a research report on Thursday, November 10th. One analyst has rated the stock with a sell rating, six have assigned a hold rating and one has issued a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $6.11.

Cano Health Price Performance

The company has a debt-to-equity ratio of 1.17, a quick ratio of 1.64 and a current ratio of 1.64. The firm’s 50-day simple moving average is $5.42 and its 200 day simple moving average is $5.51.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the stock. Alpha Paradigm Partners LLC acquired a new position in shares of Cano Health during the third quarter worth $1,785,000. BNP Paribas Arbitrage SNC acquired a new position in shares of Cano Health during the third quarter worth $502,000. Alliancebernstein L.P. increased its holdings in shares of Cano Health by 31.3% during the third quarter. Alliancebernstein L.P. now owns 209,291 shares of the company’s stock worth $1,815,000 after buying an additional 49,891 shares in the last quarter. State Street Corp increased its holdings in shares of Cano Health by 1.7% during the third quarter. State Street Corp now owns 3,415,707 shares of the company’s stock worth $29,614,000 after buying an additional 56,413 shares in the last quarter. Finally, Algert Global LLC acquired a new position in shares of Cano Health during the third quarter worth $445,000. 39.19% of the stock is currently owned by institutional investors and hedge funds.

Cano Health Company Profile

(Get Rating)

Cano Health, Inc provides primary care medical services to its members in the United States and Puerto Rico. It owns and operates medical centers enabled by CanoPanorama, a proprietary population health management technology-powered platform that provides the healthcare providers at its medical centers with a 360-degree view of their members with actionable insights to improve care decisions and member engagement.

Further Reading

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