MultiPlan Corp’s (NYSE:MPLN) Stock Loses -0.78%: A Look At Its Most Probable Path Moving Forward

MultiPlan Corp (NYSE:MPLN) shares, rose in value, with the stock price down by -0.78% to the previous day’s close as strong demand from buyers drove the stock to $0.80.

Actively observing the price movement in the last trading, the stock closed the session at $0.81. The value of beta (5-year monthly) was 0.81. Referring to stock’s 52-week performance, its high was $2.29, and the low was $0.61. On the whole, MPLN has fluctuated by -26.61% over the past month.

3 Tiny Stocks Primed to Explode The world's greatest investor — Warren Buffett — has a simple formula for making big money in the markets. He buys up valuable assets when they are very cheap. For stock market investors that means buying up cheap small cap stocks like these with huge upside potential.

We've set up an alert service to help smart investors take full advantage of the small cap stocks primed for big returns.

Click here for full details and to join for free

With the market capitalization of MultiPlan Corp currently standing at about $515.50 million, investors are eagerly awaiting this quarter’s results, scheduled for May 02, 2024 – May 06, 2024. As a result, investors might want to see an improvement in the stock’s price before the company announces its earnings report. Analysts are projecting the company’s earnings per share (EPS) to be -$0.05, which is expected to increase to -$0.05 for fiscal year -$0.19 and then to about -$0.14 by fiscal year 2025. Data indicates that the EPS growth is expected to be -35.70% in 2025, while the next year’s EPS growth is forecast to be 26.30%.

Analysts have estimated the company’s revenue for the quarter at $244.12 million, with a low estimate of $240 million and a high estimate of $248.24 million. According to the average forecast, sales growth in current quarter could jump up 3.20%, compared to the corresponding quarter of last year. Wall Street analysts also predicted that in 2025, the company’s y-o-y revenues would reach $1.02 billion, representing an increase of 6.00% from the revenues reported in the last year’s results.

Revisions could be a useful indicator to get insight on short-term price movement; so for the company, there were no upward and no downward review(s) in last seven days. We see that MPLN’s technical picture suggests that short-term indicators denote the stock is a 100% Sell on average. However, medium term indicators have put the stock in the category of 100% Sell while long term indicators on average have been pointing out that it is a 100% Sell.

The stock’s technical analysis shows that the PEG ratio is about 0, with the price of MPLN currently trading nearly -3.09% and -19.35% away from the simple moving averages for 20 and 50 days respectively. The Relative Strength Index (RSI, 14) currently indicates a reading of 42.24, while the 7-day volatility ratio is showing 9.28% which for the 30-day chart, stands at 11.37%. Furthermore, MultiPlan Corp (MPLN)’s beta value is 0.76, and its average true range (ATR) is 0.09.

A comparison of MultiPlan Corp (MPLN) with its peers suggests the former has fared considerably weaker in the market. MPLN showed an intraday change of -0.78% in last session, and over the past year, it shrunk by -24.53%%.

Data on historical trading for MultiPlan Corp (NYSE:MPLN) indicates that the trading volumes over the past 10 days have averaged 1.8 million and over the past 3 months, they’ve averaged 1.53 million. According to company’s latest data on outstanding shares, there are 648.32 million shares outstanding.

Nearly 57.50% of MultiPlan Corp’s shares belong to company insiders and institutional investors own 36.69% of the company’s shares. The data on short interest also indicates that stock shorts accounted for 14.83 million shares as on Mar 15, 2024, resulting in a short ratio of 8.05. According to the data, the short interest in MultiPlan Corp (MPLN) stood at 2.26% of shares outstanding as of Mar 15, 2024; the number of short shares registered in Feb 15, 2024 reached 13.56 million. The stock has fallen by -44.44% since the beginning of the year, thereby showing the potential of a further growth. This could raise investors’ confidence to be optimistic about the MPLN stock heading into the next quarter.