Rennova Health, Inc. (NASDAQ:RNVA) retreated -13.31% and closed its last session at $0.11. The stock has the market capitalization of $6.25 Million with the total outstanding shares of 55.43 Million. Rennova Health, Inc.. has Analysts’ Mean Recommendation of 3 between the scale of 1 to 5 (1 represents Strong Buy and 5 means Sell). The stock currently has P/E of 0.1 for trailing twelve months while its Forward P/E is 0.
Rennova Health, Inc. (NASDAQ:RNVA) touched its 52-Week High of $3.87 on Dec 2, 2015 while it’s 52-Week Low of $0.08 on Nov 23, 2016. The company currently has Return on Assets of 0 percent, Return on Equity of 0% and Return on Investment of -334.8 percent. The stock currently showing Weekly Volatility of 26.69%% and Monthly Volatility of 20.51% Percent with Average True Range of 0.02 and Beta of -0.5.
The 1 analysts offering 12-month price forecasts for Rennova Health Inc have a median target of 18.50, with a high estimate of 18.50 and a low estimate of 18.50. The median estimate represents a +16,315.26% increase from the last price of 0.11.
The Company on 14 November reported financial results for the three and nine months ended September 30, 2016, and provided a business update.
Business highlights for the third quarter of 2016 and recent weeks include:
- Submitted a bid and proposal accompanied by a deposit for the purchase of certain assets related to a rural critical access hospital. We expect to know if our bid has been successful in December 2016.
- Entered into an agreement to acquire the remaining 85% of a specialty pharmacogenomics laboratory, Genomas, Inc.
- Entered into additional preferred provider network agreements with managed care organizations including Community Care Plan in Florida and Wellcare in Kentucky bringing the number of contracts now in place with payers to 18.
- Secured additional Medicaid laboratory licensure, meaning the Company now holds Medicaid licenses in 27 states.
- Continued to grow our laboratory division and services; including initiated the integration of our software with a Clinical Research Organization in California that we believe will lead to the provision of contracted lab services and; initiated relations with an Accountable Care Organization that has agreements with 104 doctors’ offices. We have recently secured the first of these doctors as a customer and believe this will lead to us providing lab services to an expanded base of patients. We currently have a record 139 active customers.
- Added numerous new contracted customers in our software division for the Company’s flagship M2Select electronic health record (“EHR”) product services and M2Pro, our EHR for the ambulatory sector, bringing the current number of contracted customers to 83.
- In the third quarter employed a specialist team for substance abuse billing and launched our medical billing services to that sector, securing 17 contracted customers already. Our average contracted fee for services is approximately 6% of the revenue of these customers.
Rennova Health, Inc. provides diagnostics and supportive software solutions to healthcare providers. The Company’s solutions include diagnostic solutions, revenue cycle management, healthcare software solutions, financial services, diagnostic laboratory testing and analytics for precision medicine, electronic health records and other software services. Rennova Health, Inc., formerly known as CollabRx, Inc., is headquartered in West Palm Beach, Florida.