With the current price of $15.29, the stock of R1 RCM Inc. (NASDAQ:RCM) concluded the trading session seeing its price rise by 0.19 points or at a gain of 1.29% compared to its previous day’s closing price of $15.1. About 1.026 million shares of the stock changed hands on the day. The trading volume of RCM’s shares during the past session compares with the stock’s average daily trading volume of 995304 shares. On the other hand, a float of 104 million shares and a weekly performance of 13.75% make the stock worth to keep an eye on. Analysts are in agreement on an annual target price of $14.63 for RCM’s share which suggests that the stock, price of which is currently buoying between $14.59 and $15.73, is prone to a loss of -4.32%. But still, there are some analysts recommending a price below the agreed average price and one of them has given a target price of $17 to the stock.
The latest data released on July 15, 2020 shows that the short float in the R1 RCM Inc.’s stock is trending downward as short interest in RCM shares turned down leaving more number of shares available to public for trading. Number of shares shorted in the RCM is currently comprised of 3.97% of the float as the volume of shorted shares declined by -15490 shares. Over the past two weeks, stock’s short interests improved as number of shorted shares reduced to 4.142 million shares from the previous figure of 4.157 million shares. Stock’s average intraday volume is now standing at 962093 shares which indicate that the days to cover the shorts are nearly 4.304995.
After concluding the day’s trading, price of R1 RCM Inc. (NASDAQ:RCM) is up $1.63 over the week and it is $3.04 above 20-day average price. The highest price touched by the stock on the day was lower than 52-week high price of $15.73 that was attained on 08/04/20.
The stock has traded as low as $7.12 in past 52-week, and its current price is 114.75% above from that 52-week low price mark recorded on 03/17/20, which is an indicator that could increase the investors’ motivation level in taking advantage of price surge the stock has currently been going through. Stock currently has its beta at 0.66. A beta value of more than 1 represents higher volatility of a stock than that of the market and for the reason investors closely watch the behavior of such stock.
Current indicators are pointing at 71.48 as 14-days RSI of R1 RCM Inc. This means that the RCM is currently in an oversold territory and its share’s price movement is likely to be shaky for a while. Similarly, the stochastic oscillator is indicating a momentum of 82.89%, implying stock’s share price is buoying in an oversold state.
Technical chart is showing 1st resistance point of $15.69 for the RCM’s share while placing it at a 2nd resistance point of $16.28 to be settled at. But if the stock takes a plunge lower than the 1st support price of $14.55 then its market would become weakened. And that would likely sliding the stock price down to 2nd support price level of $14.
MACD oscillator is showing a reading of 0.86 for the stock which means that it is currently in the green zone. Any movement above or below the zero level of the indicator has always being noticed by the investors as it makes them compare the stock’s average measure in short-term with that in the long-term. An MACD evaluation of more than zero means that stock has a stronger short-term average than long-term average, which implies that stock’s price is likely to climb up. But an MACD below zero indicates weaker short-term average compare to the long-term average.
SVB Leerink lifted its recommendation for RCM stock from Mkt Perform to Outperform in a review note dated August 05, and moved the price target up at $18. The stock gets a Outperform recommendation from analysts at RBC Capital Mkts who started covering the stock with a target price of $12 in their April 21 note to investors.SVB Leerink analysts started covering the stock with recommendation of Mkt Perform rating on April 13.
The average rating of 1.88 for RCM is placing the stock in bullish category at the moment. In a poll by Reuters including 8 analysts in it who kept tracking the R1 RCM Inc., 1 rated the stock as hold. Others were in different opinions for the RCM. Out of remaining 7 analysts, 7 rated the stock as a buy or strong buy. 0 were in favor of a sell rating for the stock while advising investors to shun the stock if they already have any or otherwise not to buy it.
A quick look at other side of the picture shows that RCM stock is ahead of earnings per share estimates with a forward price-to-earnings ratio of 26.76.
Projection by Zacks Consensus Estimates suggests that R1 RCM Inc. (NASDAQ:RCM) will see its current-quarter revenues drop by nearly -99.91% to be decreased to about $291.76 million. Full-year revenue of the company is however forecasted to be increased by nearly 3.36% to bring $1230 million in revenues against last year revenue of $1190 million. Earnings, after adjustments, are likely to surge by 300% to post an EPS of $0.04, while estimate for company’s full year earnings is $0.19 per share with a growth rate of -337.5%.