Shares of Castlight Health Inc (NYSE:CSLT) rose 7.2% during mid-day trading on Friday . The stock traded as high as $2.55 and last traded at $2.52. Approximately 816,147 shares changed hands during mid-day trading, an increase of 72% from the average daily volume of 473,168 shares. The stock had previously closed at $2.35.

CSLT has been the subject of several analyst reports. Dougherty & Co dropped their target price on Castlight Health from $6.00 to $5.00 and set a “buy” rating for the company in a report on Wednesday, October 31st. William Blair reiterated an “outperform” rating on shares of Castlight Health in a report on Thursday, December 20th. Cantor Fitzgerald reiterated a “buy” rating and set a $5.00 price target on shares of Castlight Health in a report on Monday, December 17th. ValuEngine cut Castlight Health from a “hold” rating to a “sell” rating in a report on Wednesday, December 5th. Finally, Zacks Investment Research upgraded Castlight Health from a “hold” rating to a “strong-buy” rating and set a $3.25 price target for the company in a report on Friday, November 9th. Two analysts have rated the stock with a hold rating, four have assigned a buy rating and one has given a strong buy rating to the company’s stock. The stock has an average rating of “Buy” and an average price target of $4.81.

The firm has a market capitalization of $325.57 million, a price-to-earnings ratio of -9.69 and a beta of 1.16. The company has a quick ratio of 1.89, a current ratio of 1.89 and a debt-to-equity ratio of 0.02.

Castlight Health (NYSE:CSLT) last released its quarterly earnings results on Tuesday, November 6th. The software maker reported ($0.01) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.07) by $0.06. The business had revenue of $40.04 million during the quarter, compared to analysts’ expectations of $38.11 million. Castlight Health had a negative return on equity of 16.59% and a negative net margin of 29.23%. The company’s revenue was up 16.1% compared to the same quarter last year. During the same period in the prior year, the business posted ($0.05) EPS. Analysts expect that Castlight Health Inc will post -0.23 EPS for the current year.

In other Castlight Health news, CEO John C. Doyle sold 18,519 shares of the stock in a transaction dated Monday, November 19th. The stock was sold at an average price of $2.69, for a total value of $49,816.11. Following the sale, the chief executive officer now owns 268,523 shares of the company’s stock, valued at approximately $722,326.87. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Mangini Siobhan Nolan sold 11,319 shares of the stock in a transaction dated Wednesday, January 2nd. The shares were sold at an average price of $2.21, for a total value of $25,014.99. Following the completion of the sale, the chief financial officer now directly owns 225,458 shares in the company, valued at approximately $498,262.18. The disclosure for this sale can be found here. Insiders have sold a total of 92,112 shares of company stock valued at $236,010 over the last 90 days. 22.58% of the stock is currently owned by company insiders.

A number of hedge funds have recently bought and sold shares of CSLT. Rhumbline Advisers raised its position in Castlight Health by 30.9% in the 2nd quarter. Rhumbline Advisers now owns 69,922 shares of the software maker’s stock valued at $297,000 after purchasing an additional 16,520 shares in the last quarter. Russell Investments Group Ltd. acquired a new stake in Castlight Health in the 2nd quarter valued at about $2,315,000. Schwab Charles Investment Management Inc. raised its position in Castlight Health by 34.8% in the 2nd quarter. Schwab Charles Investment Management Inc. now owns 365,590 shares of the software maker’s stock valued at $1,554,000 after purchasing an additional 94,310 shares in the last quarter. BlackRock Inc. raised its position in Castlight Health by 30.4% in the 2nd quarter. BlackRock Inc. now owns 4,637,348 shares of the software maker’s stock valued at $19,710,000 after purchasing an additional 1,081,140 shares in the last quarter. Finally, Dimensional Fund Advisors LP raised its position in Castlight Health by 93.8% in the 2nd quarter. Dimensional Fund Advisors LP now owns 263,904 shares of the software maker’s stock valued at $1,122,000 after purchasing an additional 127,761 shares in the last quarter. 48.69% of the stock is currently owned by institutional investors.

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Castlight Health Company Profile (NYSE:CSLT)

Castlight Health, Inc provides a software-as-a-service platform used for health benefits navigation for employees in the United States. Its platform matches employees to the resources their employers make available to them; managing a condition; and assists them to manage their benefits. The company also offers communication and testing, implementation, and user customer support services.

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