Claritev (NYSE:CTEV) Shares Gap Down – Here’s What Happened

Claritev (NYSE:CTEVGet Free Report) shares gapped down prior to trading on Wednesday . The stock had previously closed at $33.16, but opened at $30.83. Claritev shares last traded at $30.97, with a volume of 5,074 shares changing hands.

Analyst Upgrades and Downgrades

A number of equities research analysts recently commented on CTEV shares. Wall Street Zen lowered shares of Claritev from a “hold” rating to a “sell” rating in a report on Saturday, April 25th. Barclays assumed coverage on Claritev in a research note on Friday, April 24th. They issued an “overweight” rating and a $28.00 price target on the stock. Citigroup restated a “buy” rating on shares of Claritev in a report on Wednesday, May 13th. Piper Sandler set a $61.00 price target on shares of Claritev in a research note on Wednesday, June 3rd. Finally, Wells Fargo & Company cut their price target on shares of Claritev from $30.00 to $22.00 and set an “equal weight” rating on the stock in a research report on Thursday, March 19th. Five equities research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company. According to MarketBeat, Claritev presently has a consensus rating of “Moderate Buy” and an average price target of $33.67.

Check Out Our Latest Stock Analysis on Claritev

Claritev Price Performance

The business’s 50-day moving average is $27.18 and its 200 day moving average is $25.27. The firm has a market capitalization of $552.59 million, a P/E ratio of -1.87 and a beta of 0.69.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the stock. State of Wyoming bought a new position in Claritev in the 4th quarter valued at about $25,000. Ameritas Investment Partners Inc. bought a new position in Claritev in the third quarter valued at approximately $42,000. Legal & General Group Plc bought a new position in Claritev in the third quarter valued at approximately $45,000. Los Angeles Capital Management LLC acquired a new position in Claritev during the fourth quarter valued at approximately $45,000. Finally, BNP Paribas Financial Markets bought a new stake in Claritev during the third quarter worth $79,000. Institutional investors own 87.15% of the company’s stock.

About Claritev

(Get Free Report)

Claritev is a healthcare technology, data and insights company focused on improving affordability,  transparency and quality. Led by deeply experienced associates, data scientists, and innovators, Claritev provides tech-enabled solutions and services fueled by multiple data sources from over 40 years of claims repricing. Claritev utilizes world-class technology and AI solutions to power a robust enterprise platform that delivers meaningful insights to drive affordability in healthcare, brings price transparency and optimizes networks and benefits design.

Further Reading

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