MultiPlan Corp (NYSE: MPLN) Not A Good Play Anymore?

MultiPlan Corp (MPLN) concluded trading on Thursday at a closing price of $0.38, with 3.87 million shares of worth about $1.47 million changed hands on the day. Half year performance of the stock remained negative as price took a plunge of -75.29% during that period and on June 20, 2024 the price saw a gain of about 0.26%. Currently the company’s common shares owned by public are about 648.32M shares, out of which, 264.91M shares are available for trading.

Stock saw a price change of -18.46% in past 5 days and over the past one month there was a price change of -29.87%. Year-to-date (YTD), MPLN shares are showing a performance of -73.40% which decreased to -80.46% when we look at its performance for past 12 months. Over the period of past 52 weeks, stock dropped to lowest price of $0.37 but also hit the highest price of $2.29 during that period. The average intraday trading volume for MultiPlan Corp shares is 2.42 million. The stock is currently trading -23.54% below its 20-day simple moving average (SMA20), while that difference is down -35.93% for SMA50 and it goes to -66.67% lower than SMA200.

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MultiPlan Corp (NYSE: MPLN) currently have 648.32M outstanding shares and institutions hold larger chunk of about 34.82% of that.

The stock has a current market capitalization of $246.99M and its 3Y-monthly beta is at 0.72. It has posted earnings per share of -$0.98 in the same period. It has Quick Ratio of 0.98 while making debt-to-equity ratio of 3.88. Volatility of a stock is a metric used to know how much the price of that stock is under influence and for MPLN, volatility over the week remained 11.87% while standing at 14.66% over the month.

Stock’s fiscal year EPS is expected to drop by -594.13% while it is estimated to increase by 85.54% in next year.

Digging deeper we find that several firms have released their research notes about the support levels of the stock. Most recent of them is a note released by Citigroup on December 13, 2022 offering a Neutral rating for the stock and assigned a target price range of between $3 and $2 to it. Coverage by Goldman stated MultiPlan Corp (MPLN) stock as a Neutral in their note to investors on July 12, 2022, suggesting a price target of $6.50 for the stock. On October 04, 2021, Citigroup Resumed their recommendations, while on April 07, 2021, B. Riley Securities Initiated their ratings for the stock with a price target of $10. Stock get an Equal weight rating from Barclays on March 19, 2021.

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