Cross Country Healthcare (NASDAQ:CCRN) Stock Price Crosses Above 200 Day Moving Average – Here’s Why

Shares of Cross Country Healthcare, Inc. (NASDAQ:CCRN) passed above its two hundred day moving average during trading on Tuesday . The stock has a two hundred day moving average of $10.33 and traded as high as $13.22. Cross Country Healthcare shares last traded at $13.22, with a volume of 192,115 shares.

Wall Street Analysts Forecast Growth

CCRN has been the topic of several research analyst reports. Truist Financial boosted their price objective on Cross Country Healthcare from $10.00 to $13.25 and gave the company a “hold” rating in a research report on Monday, May 11th. Weiss Ratings cut Cross Country Healthcare from a “sell (d-)” rating to a “sell (e+)” rating in a research report on Tuesday, June 30th. Barrington Research reissued a “market perform” rating and issued a $13.25 price target on shares of Cross Country Healthcare in a report on Monday, June 8th. Benchmark downgraded Cross Country Healthcare from a “buy” rating to a “hold” rating in a research note on Friday, May 8th. Finally, Wedbush lowered shares of Cross Country Healthcare from an “outperform” rating to a “hold” rating and cut their price objective for the company from $15.00 to $13.25 in a report on Thursday, May 7th. Nine investment analysts have rated the stock with a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Reduce” and an average target price of $12.05.

Cross Country Healthcare Price Performance

The stock has a 50-day moving average price of $12.92 and a two-hundred day moving average price of $10.41. The stock has a market cap of $426.82 million, a PE ratio of -4.33, a price-to-earnings-growth ratio of 14.29 and a beta of 0.45.

Cross Country Healthcare (NASDAQ:CCRN) last posted its earnings results on Thursday, May 7th. The business services provider reported ($0.03) EPS for the quarter, topping analysts’ consensus estimates of ($0.05) by $0.02. The company had revenue of $241.06 million for the quarter, compared to the consensus estimate of $237.06 million. Cross Country Healthcare had a negative return on equity of 0.74% and a negative net margin of 9.84%. Equities research analysts expect that Cross Country Healthcare, Inc. will post 0.09 earnings per share for the current year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the business. BNP Paribas Financial Markets raised its stake in Cross Country Healthcare by 50.0% during the second quarter. BNP Paribas Financial Markets now owns 3,424 shares of the business services provider’s stock valued at $45,000 after purchasing an additional 1,142 shares in the last quarter. Caitong International Asset Management Co. Ltd bought a new stake in shares of Cross Country Healthcare in the 4th quarter worth about $46,000. Tower Research Capital LLC TRC increased its holdings in shares of Cross Country Healthcare by 422.0% in the 2nd quarter. Tower Research Capital LLC TRC now owns 3,586 shares of the business services provider’s stock worth $47,000 after buying an additional 2,899 shares during the last quarter. Graham Capital Management L.P. purchased a new stake in shares of Cross Country Healthcare during the 4th quarter valued at about $83,000. Finally, AXQ Capital LP purchased a new stake in shares of Cross Country Healthcare during the 4th quarter valued at about $109,000. 96.03% of the stock is owned by hedge funds and other institutional investors.

Cross Country Healthcare Company Profile

Cross Country Healthcare, Inc, headquartered in Boca Raton, Florida, is a leading provider of healthcare workforce solutions in the United States. The company specializes in the recruitment, placement and management of nursing and allied health professionals on both a travel and permanent basis. Through its integrated platform, Cross Country Healthcare serves hospitals, health systems, and long-term care facilities by matching qualified clinical talent with patient care needs across diverse care settings.

The company’s core service offerings include travel nurse and allied health staffing, per diem staffing, permanent placement services, and managed services programs.