Examworks Group, Inc. (NYSE:EXAM) was the dead cat bounce of Friday, which means it slump 21.4% to $22.68 on Thursday, but jump up 11.55% to $25.30 Friday.
Examworks is a leading provider of independent medical examinations, bill reviews, peer reviews, case management, Medicare compliance, and other related services. Examworks reported third quarter 2015 financial results on Wednesday. Revenue increased 1% or $2 million from year ago $204 million to $206 million. Net income increased 110% to $7.155 million compared to $3.415 million last year. Diluted earnings per share increased 112.5% to $0.17 compared to $0.08 last year.
James K. Price, Chief Executive Officer of Examworks, said: "We continue to be pleased with the positive impact that our strategy and execution continues to have on the industry and our business. We continue to invest in the areas that differentiate us and set us apart from our competition such as our technology and security infrastructure. We are also extremely pleased to welcome First Choice into the Examworks family. First Choice is a major regional player that will strengthen our position in the Northeast region and contribute to our growth and profitability in the future. We are enthusiastically looking forward to an exciting 2016."
However, Examworks’s expectation for fourth quarter doesn’t look well. Revenue are expected to range between $198 million and $202 million after an estimated $9 million unfavorable impact due to currency as compared to the prior year quarter report revenue. After financial result report, stock price slump from $28.86 to $22.68 yesterday.
Trade-Ideas LLC identified the jump up 11.55% of Examwork is due to the average dollar volume and traded 51,662 shares today. ExamWorks’s average volume has been 366,100 shares per day over the past 30 days. ExamWorks has a market capital of $1.2. It has a beta of 0.84 and a short float of 15% with cover 7.74 days.