Cross Country Healthcare, Inc. (CCRN): Why Is It Down -2.44 Percent Today

The biggest losers of the session on the Wall Street include Cross Country Healthcare, Inc. (NASDAQ:CCRN), which fell -0.25 points or -2.44% to trade at $9.81 as last check. The stock closed last session at $10.06 and sets an active trading volume day with a reported 174235 contracts so far this session. CCRN shares had a relatively better volume day versus average trading capacity of 190.32 thousand shares, but with a 35.02 million float and a 2.39% run over a week, it’s definitely worth keeping an eye on. The one year price forecast for CCRN stock indicates that the average analyst price target is $11.7 per share. This means the stock has a potential increase of 19.27% from where the CCRN share price has been trading recently.

During the recent trading session for Cross Country Healthcare, Inc. (NASDAQ:CCRN), the company witnessed their stock rise $0.07 over a week and tumble down $-0.39 from the price 20 days ago. When compared to their established 52-week high of $12.99, the high they recorded in their recent session happens to be higher. Their established 52-week high was attained by the company on 06/11/19. The recent low of $6.75 stood for a -24.48% since 03/25/19, a data which is good for most investors who are looking to take advantage of the stock’s recent rise. A beta of 1.07 is also allocated to the stock. Since the beta is greater than one, it implies that the stock is more volatile than the market, a data that traders are keeping close attention to.

Looking at the current readings for Cross Country Healthcare, Inc., the two-week RSI stands at 39.52. This figure suggests that CCRN stock, for now, is neutral, meaning that the shares are stable in terms of price movement. The stochastic readings, on the other hand, based on the current CCRN readings is similarly very revealing as it has a stochastic reading of 27.49% at this stage. This figure means that CCRN share price today is being overbought.

Technical chart claims that Cross Country Healthcare, Inc. (CCRN) would settle between $10.15/share to $10.25/share level. However, if the stock price goes below the $9.94 mark, then the market for Cross Country Healthcare, Inc. becomes much weaker. If that happens, the stock price might even plunge as low as $9.83 for its downside target. The stock is currently in the green zone of MACD, with the indicator reading 0.11. Traders are always alerted for the move of a stock above or below the zero line due to the fact that the reading is an indicator of the position of the short-term average relative to the long-term average. If the MACD is above the zero line, then the short-term average relative is above that of the long-term average, thus implying an upward momentum. Vice versa is the case if the MACD is below the zero line.

Analysts at SunTrust lowered their recommendation on shares of CCRN from Buy to Hold in their opinion released on February 19. Lake Street analysts bumped their rating on Cross Country Healthcare, Inc. (NASDAQ:CCRN) stock from Hold to Buy in a separate flash note issued to investors on November 02. Analysts at Lake Street are sticking to their Hold stance. However, on May 03, they lifted price target for these shares to $11 from $11.

CCRN equity has an average rating of 2.71, with the figure leaning towards a bullish end. 7 analysts who tracked the company were contacted by Reuters. Amongst them, 6 rated the stock as a hold while the remaining 1 were split even though not equally. Some analysts rate the stock as a buy or a strong buy while no rated it as a sell. 1 analysts rated Cross Country Healthcare, Inc. (NASDAQ:CCRN) as a buy or a strong buy while not a single analyst advised that investors should desist from purchasing the stock or sell them if they already own the company’s stock.

Moving on, CCRN stock price is currently trading at 40.06X forward 12-month Consensus EPS estimates, and its P/E ratio is 0 while for the average stock in the same group, the multiple is 25.9. Cross Country Healthcare, Inc. current P/B ratio of 2.3 means it is trading at a discount against its industry’s 7.7.