Clarivate (NYSE:CLVT) Reaches New 1-Year Low – Here’s Why

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

Wall Street Analyst Weigh In

CLVT has been the subject of several research analyst reports. Weiss Ratings restated 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 cut their price target for the company from $4.20 to $3.60 in a report on Thursday, January 8th. Morgan Stanley reiterated an “underweight” rating and set a $3.00 price objective (down from $5.00) on shares of Clarivate in a research note on Wednesday, December 17th. Finally, Wall Street Zen raised shares of Clarivate from a “hold” rating to a “buy” rating in a research report on Saturday, February 7th. Three analysts have rated the stock with a Hold rating and two have given a Sell rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Reduce” and an average target price of $3.70.

Clarivate Price Performance

The business has a fifty day moving average of $2.86 and a 200 day moving average of $3.49. 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 cap of $1.13 billion, a PE ratio of -2.99 and a beta of 1.51.

Insiders Place Their Bets

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

Institutional Trading of Clarivate

Large investors have recently modified their holdings of the company. M&T Bank Corp bought a new position in Clarivate in the 4th quarter worth about $34,000. Essex Financial Services Inc. bought a new position in Clarivate in the 3rd quarter worth approximately $41,000. Jump Financial LLC acquired a new stake in Clarivate in the 4th quarter valued at approximately $41,000. North Dakota State Investment Board bought a new stake in Clarivate during the 4th quarter valued at $42,000. Finally, Beese Fulmer Investment Management Inc. acquired a new position in Clarivate during the 4th quarter worth $44,000. Institutional investors and hedge funds own 85.72% of the company’s stock.

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.