Clarivate (NYSE:CLVT) Reaches New 52-Week Low – What’s Next?

Clarivate PLC (NYSE:CLVT) shares hit a new 52-week low during trading on Monday . The company traded as low as $1.66 and last traded at $1.6850, with a volume of 366004 shares trading hands. The stock had previously closed at $1.77.

Wall Street Analysts Forecast Growth

CLVT has been the topic of several research analyst reports. Weiss Ratings reissued a “sell (e+)” rating on shares of Clarivate in a research note on Monday, December 29th. The Goldman Sachs Group lowered shares of Clarivate from a “buy” rating to a “neutral” rating and lowered their price objective for the company from $4.20 to $3.60 in a research note on Thursday, January 8th. Morgan Stanley restated an “underweight” rating and issued a $3.00 target price (down from $5.00) on shares of Clarivate in a research report on Wednesday, December 17th. Finally, Wall Street Zen upgraded Clarivate from a “hold” rating to a “buy” rating in a research report on Saturday, February 7th. Three equities research analysts have rated the stock with a Hold rating and two have assigned a Sell rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Reduce” and an average target price of $3.70.

Clarivate Stock Down 3.7%

The company has a debt-to-equity ratio of 0.90, a current ratio of 0.87 and a quick ratio of 0.87. The stock has a market capitalization of $1.13 billion, a P/E ratio of -2.99 and a beta of 1.51. The stock’s fifty day moving average is $2.86 and its two-hundred day moving average is $3.49.

Insider Activity at Clarivate

In related news, insider Bar Veinstein sold 309,902 shares of the stock in a transaction on Monday, December 1st. The stock was sold at an average price of $3.74, for a total value of $1,159,033.48. Following the completion of the transaction, the insider owned 848,811 shares in the company, valued at $3,174,553.14. This trade represents a 26.75% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 23.18% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in the company. M&T Bank Corp acquired a new position in Clarivate in the 4th quarter worth approximately $34,000. Essex Financial Services Inc. purchased a new stake in shares of Clarivate in the third quarter valued at $41,000. PharVision Advisers LLC purchased a new stake in shares of Clarivate in the third quarter valued at $45,000. Pitcairn Co. acquired a new stake in shares of Clarivate in the second quarter worth $52,000. Finally, Jump Financial LLC purchased a new position in shares of Clarivate during the fourth quarter valued at $41,000. 85.72% of the stock is currently owned by institutional investors and hedge funds.

About Clarivate

Clarivate plc is a global information and analytics company that provides insights and workflow solutions to accelerate the pace of innovation. The company delivers proprietary data, analytics, and expertise to support research and development in the life sciences, intellectual property management, academic institutions, government agencies, and corporations. Its core offerings include citation and patent databases, drug pipeline analytics, trademark research tools, regulatory compliance solutions, and market intelligence platforms.

Originally part of Thomson Reuters’ Intellectual Property & Science division, Clarivate was established as an independent entity in 2016 following a spin-off transaction.