Home / Market Movers / Services Sector Feels 3.85% Slide in Shares of Performant Financial Corporation (PFMT) at Midday on September 23

Services Sector Feels 3.85% Slide in Shares of Performant Financial Corporation (PFMT) at Midday on September 23

Performant Financial Corporation (PFMT) lost ground during morning trading on September 23 to make it one of the worst performers amongst all NYSE and NASDAQ listed stocks in the services sector halfway through the trading day. At the lunch break, shares of PFMT have fallen 3.85% to $2.57 after closing the day prior at $2.67. So far, the stock has traded as high as $2.75 and as low as $2.55. Today’s decline has come with about 8,054 shares changing hands, compared to an average 30-day volume of 41,611 for Performant Financial Corporation. The price is currently below the 30-day volume weighted average price of $2.64 for PFMT.

The share depreciation gives the company a market capitalization of $133.97 million based upon 50.17 million shares outstanding. It also means that PFMT has a price-to-book ratio of 1.38:1.

In the past 52 weeks, shares of PFMT have traded as low as $1.51 and as high as $3.29. Technical traders will take note that at $2.57, shares of PFMT are trading above their 200-day MA at $1.85 and above their 50-day MA at $2.2. Technical analysts pay close attention to these key moving averages because they often serve as technical support and resistance levels and because a move through or holding below them is typically regarded as bearish.

Who is PFMT?

Performant Financial Corp provides technology-enabled recovery and related analytics services in the United States. It helps identify and recover delinquent or defaulted assets and improper payments for both government and private clients. The company’s 1218 employees are led by CEO Lisa C. Im from the corporate headquarters at 333 North Canyons Parkway in Livermore, CA.

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