Clarivate (NYSE:CLVT) Stock Price Down 9% - Here's Why

Key Points

• Shares fell 9% intraday to about $2.49, with only ~714,119 shares traded — roughly 90% below the average daily volume of 6.88 million.
• Several major brokers cut ratings and price targets (Goldman Sachs, Citigroup, RBC, Wall Street Zen), leaving a MarketBeat consensus rating of "Reduce" and a consensus price target of $3.22.
• Clarivate's fundamentals show a $1.61 billion market cap, a negative P/E (-8.32) and a current ratio of 0.84, highlighting earnings and liquidity pressures behind the sell-side downgrades.

Clarivate PLC (NYSE:CLVT - Get Free Report)'s share price traded down 9% during mid-day trading on Thursday . The stock traded as low as $2.49 and last traded at $2.4850. 714,119 shares changed hands during trading, a decline of 90% from the average session volume of 6,883,035 shares. The stock had previously closed at $2.73.

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on the stock. Weiss Ratings reaffirmed a "sell (e+)" rating on shares of Clarivate in a research note on Friday, March 27th. The Goldman Sachs Group downgraded shares of Clarivate from a "buy" rating to a "neutral" rating and dropped their price target for the stock from $4.20 to $3.60 in a research note on Thursday, January 8th. Citigroup dropped their target price on shares of Clarivate from $4.25 to $2.80 and set a "neutral" rating for the company in a research report on Wednesday, March 4th. Royal Bank Of Canada dropped their target price on shares of Clarivate from $5.00 to $3.00 and set a "sector perform" rating for the company in a research report on Wednesday, February 25th. Finally, Wall Street Zen downgraded shares of Clarivate from a "buy" rating to a "hold" rating in a research report on Saturday, February 28th. Five equities research analysts have rated the stock with a Hold rating and three have issued a Sell rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of "Reduce" and a consensus price target of $3.22.

Clarivate Price Performance

The company's 50-day moving average price is $2.38 and its two-hundred day moving average price is $2.99. The company has a market cap of $1.61 billion, a P/E ratio of -8.32 and a beta of 1.39. The company has a current ratio of 0.84, a quick ratio of 0.84 and a debt-to-equity ratio of 0.89.

Institutional Investors Weigh In On Clarivate

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Apella Capital LLC bought a new stake in shares of Clarivate in the 1st quarter worth about $43,000. Virtu Financial LLC grew its position in shares of Clarivate by 204.3% during the 4th quarter. Virtu Financial LLC now owns 49,960 shares of the company's stock valued at $167,000 after buying an additional 33,544 shares during the last quarter. Invesco Ltd. grew its position in shares of Clarivate by 38.4% during the 4th quarter. Invesco Ltd. now owns 1,327,520 shares of the company's stock valued at $4,434,000 after buying an additional 368,531 shares during the last quarter. Vident Advisory LLC grew its position in shares of Clarivate by 3.3% during the 4th quarter. Vident Advisory LLC now owns 185,821 shares of the company's stock valued at $621,000 after buying an additional 5,980 shares during the last quarter. Finally, SkyView Investment Advisors LLC grew its position in shares of Clarivate by 1.4% during the 4th quarter. SkyView Investment Advisors LLC now owns 413,728 shares of the company's stock valued at $1,382,000 after buying an additional 5,830 shares during the last quarter. Institutional investors 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.

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