Evolent Health (NYSE:EVH) Shares Pass Below 50 Day Moving Average – Time to Sell?

Evolent Health, Inc (NYSE:EVH) passed below its 50 day moving average during trading on Wednesday . The stock has a 50 day moving average of $3.36 and traded as low as $2.92. Evolent Health shares last traded at $3.0150, with a volume of 2,340,146 shares changing hands.

Analysts Set New Price Targets

EVH has been the subject of several research reports. Stephens raised shares of Evolent Health from an “equal weight” rating to an “overweight” rating and set a $7.00 price target for the company in a research report on Thursday, November 13th. TD Cowen restated a “buy” rating on shares of Evolent Health in a report on Monday, March 2nd. BMO Capital Markets reiterated an “outperform” rating and set a $3.50 price objective on shares of Evolent Health in a research note on Wednesday, February 25th. JPMorgan Chase & Co. cut their price target on shares of Evolent Health from $13.00 to $7.00 and set an “overweight” rating on the stock in a report on Monday, November 17th. Finally, Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Evolent Health in a research report on Monday, December 29th. Thirteen analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, Evolent Health has an average rating of “Moderate Buy” and a consensus price target of $6.04.

Evolent Health Price Performance

The company has a debt-to-equity ratio of 2.34, a quick ratio of 1.31 and a current ratio of 1.31. The company has a market cap of $336.59 million, a PE ratio of -0.59 and a beta of 0.24. The stock has a 50 day moving average of $3.36 and a 200-day moving average of $5.45.

Evolent Health (NYSE:EVH) last issued its earnings results on Tuesday, February 24th. The technology company reported $0.08 EPS for the quarter, beating analysts’ consensus estimates of $0.06 by $0.02. The firm had revenue of $468.72 million for the quarter, compared to analyst estimates of $468.48 million. Evolent Health had a positive return on equity of 1.49% and a negative net margin of 28.49%.Evolent Health’s revenue for the quarter was down 27.5% on a year-over-year basis. During the same quarter in the prior year, the firm earned ($0.02) earnings per share. Equities analysts predict that Evolent Health, Inc will post 0.08 earnings per share for the current year.

Institutional Trading of Evolent Health

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. CIBC Private Wealth Group LLC boosted its position in Evolent Health by 4,000.0% in the 3rd quarter. CIBC Private Wealth Group LLC now owns 4,100 shares of the technology company’s stock worth $35,000 after purchasing an additional 4,000 shares in the last quarter. Strs Ohio purchased a new stake in shares of Evolent Health during the 1st quarter worth about $47,000. Headlands Technologies LLC purchased a new stake in shares of Evolent Health during the 2nd quarter worth about $58,000. Pilgrim Partners Asia Pte Ltd acquired a new stake in shares of Evolent Health during the 3rd quarter valued at about $51,000. Finally, State of Alaska Department of Revenue acquired a new stake in shares of Evolent Health during the 3rd quarter valued at about $56,000.

Evolent Health Company Profile

Evolent Health, Inc is a U.S.-based healthcare technology and services company that partners with health systems, physician organizations and health plans to design, build and operate value-based care programs. Headquartered in Arlington, Virginia, the company was founded in 2011 as a joint venture between TPG and the University of Pittsburgh Medical Center (UPMC). Evolent Health aims to help its clients transition from fee-for-service payment models to value-based care arrangements by leveraging its proprietary technology platforms and clinical expertise.

The company’s core offerings include care management solutions, population health analytics and clinical advisory services.