Claritev (NYSE:CTEV) Trading Down 6% – Should You Sell?

Claritev (NYSE:CTEV) shares traded down 6% on Monday . The company traded as low as $30.68 and last traded at $30.68. Approximately 2,928 shares traded hands during mid-day trading, a decline of 98% from the average daily volume of 176,536 shares. The stock had previously closed at $32.64.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on CTEV shares. Citigroup reissued a “buy” rating on shares of Claritev in a research note on Wednesday, May 13th. Wells Fargo & Company decreased their price objective on shares of Claritev from $30.00 to $22.00 and set an “equal weight” rating for the company in a research note on Thursday, March 19th. Barclays initiated coverage on Claritev in a research report on Friday, April 24th. They set an “overweight” rating and a $28.00 price objective for the company. Piper Sandler set a $61.00 price target on shares of Claritev in a report on Wednesday, June 3rd. Finally, Weiss Ratings reissued a “sell (d-)” rating on shares of Claritev in a research note on Wednesday, June 24th. Five equities research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $33.67.

Claritev Trading Down 3.0%

The stock has a market cap of $539.63 million, a P/E ratio of -1.83 and a beta of 0.69. The firm’s fifty day moving average is $26.77 and its 200 day moving average is $25.36.

Institutional Trading of Claritev

Several hedge funds have recently added to or reduced their stakes in CTEV. JPMorgan Chase & Co. bought a new stake in shares of Claritev in the third quarter valued at approximately $1,245,000. Vanguard Group Inc. bought a new position in Claritev during the third quarter worth $27,483,000. Citigroup Inc. bought a new position in Claritev during the third quarter worth $2,025,000. Ameritas Investment Partners Inc. acquired a new position in Claritev during the 3rd quarter valued at $42,000. Finally, Quantbot Technologies LP acquired a new position in Claritev during the 3rd quarter valued at $385,000. Institutional investors own 87.15% of the company’s stock.

Claritev Company Profile

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.