Perhaps timely catching CareMax Inc. (CMAX) would be a good idea

CareMax Inc. (NASDAQ: CMAX) stock fell -7.10% on Friday to $4.19 against a previous-day closing price of $4.51. With 1.5 million shares changed hands, the volume of the stock remained heavier than its average volume of 0.5 million shares. During the session, the Health Information Services company that operates in wider Healthcare sector, reached to the highest price of $4.6000 whereas the lowest price it dropped to was $4.1300. The 52-week range on CMAX shows that it touched its highest point at $9.23 and its lowest point at $2.77 during that stretch. It currently has a 1-year price target of $8.00.

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Price Performance and Earnings:

Stock performance is one of the indicators that investors use to determine whether they will profit from a stock. The price performance of CMAX was up-trending over the past week, with a rise of 0.24%, but this was up by 37.83% over a month. Three-month performance dropped to -29.93% while six-month performance fell -35.34%. The stock lost -39.19% in the past year, while it has gained 14.79% so far this year. A look at the trailing 12-month EPS for CMAX yields -0.59 with Next year EPS estimates of -0.29. For the next quarter, that number is -0.05. This implies an EPS growth rate of 89.50% for this year and 50.80% for next year.

Float and Shares Shorts:

At present, 87.41 million CMAX shares are outstanding with a float of 74.08 million shares on hand for trading. On Oct 13, 2022, short shares totaled 3.86 million, which was 4.42% higher than short shares on Sep 14, 2022. In addition to Mr. Carlos A. de Solo as the firm’s Co-Founder, Pres, CEO & Director, Mr. Kevin C. Wirges serves as its Exec. VP, CFO & Treasurer.

Institutional Ownership:

Through their ownership of 73.05% of CMAX’s outstanding shares, institutional investors have majority control over the company. Other institutions hold 6.72% of CMAX, in contrast to 49.43% held by mutual funds. Shares owned by individuals account for 10.73%. As the largest shareholder in CMAX with 14.30% of the stake, Deerfield Management Co. LP holds 15,861,090 shares worth 15,861,090. A second-largest stockholder of CMAX, Eminence Capital LP, holds 7,575,280 shares, controlling over 8.67% of the firm’s shares. Athyrium Capital Management LP is the third largest shareholder in CMAX, holding 4,467,219 shares or 5.11% stake. With a 2.39% stake in CMAX, the Vanguard Total Stock Market Index is the largest stakeholder. A total of 2,648,343 shares are owned by the mutual fund manager. The iShares Russell 2000 ETF, which owns about 1.48% of CMAX stock, is the second-largest Mutual Fund holder. It holds 1,293,533 shares valued at 4.72 million. JPMorgan Funds – Global Healthcar holds 1.42% of the stake in CMAX, owning 1,571,345 shares worth 5.74 million.

Analysts Ratings:

Reading analyst opinions is an effective way to decide where to invest, and there are several opinions available for CMAX since 5 analysts follow the stock currently. There are 4 analysts who recommend BUY ratings, while 0 suggest SELL ratings. Of the remaining analysts, 1 believe that the stock is worth HOLDING, 0 give it an OVERWEIGHT rating, and 0 thinks that it’s UNDERWEIGHT. In the same way, a target price assigned to a stock can also reveal much about its potential. With CMAX analysts setting a high price target of $9.00 and a low target of $5.00, the average target price over the next 12 months is $6.75. Based on these targets, CMAX could surge 114.8% to reach the target high and rise by 19.33% to reach the target low. Reaching the average price target will result in a growth of 61.1% from current levels.

EPS: Estimates vs Actual

It is also common to use earnings estimates to evaluate a firm’s growth potential and to determine trading strategy. CMAX will report FY 2022 earnings on 03/05/2024. Analysts have provided yearly estimates in a range of -$0.14 being high and -$0.75 being low. For CMAX, this leads to a yearly average estimate of -$0.52. The earnings surprise of a firm occurs when the actual results change from the consensus earnings estimate. CareMax Inc. surprised analysts by -$0.19 when it reported -$0.25 EPS against a consensus estimate of -$0.06. The surprise factor in the prior quarter was -$0.05. Based on analyst estimates, the high estimate for the next quarter is -$0.03 and the low estimate is -$0.20. The average estimate for the next quarter is thus -$0.08.

Summary of Insider Activity:

Insiders traded CMAX stock several times over the past three months with 8 Buys and 0 Sells. In these transactions, 99,534 shares were bought while 0 shares were sold. The number of buy transactions has increased to 8 while that of sell transactions has risen to 3 over the past year. The total number of shares bought during that period was 99,534 while 7,553,500 shares were sold.

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