Evolent Health (NYSE:EVH) Stock Price Down 4.8% – Time to Sell?

Evolent Health, Inc (NYSE:EVH)’s stock price traded down 4.8% during trading on Wednesday . The stock traded as low as $5.72 and last traded at $5.8910. Approximately 662,734 shares traded hands during trading, a decline of 77% from the average daily volume of 2,877,433 shares. The stock had previously closed at $6.19.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on the stock. Canaccord Genuity Group raised their target price on shares of Evolent Health from $4.00 to $6.00 and gave the company a “buy” rating in a research note on Tuesday, May 12th. Needham & Company LLC lifted their price objective on Evolent Health from $4.00 to $5.00 and gave the company a “buy” rating in a research note on Thursday, May 7th. Weiss Ratings raised shares of Evolent Health from a “sell (e+)” rating to a “sell (d-)” rating in a research report on Wednesday, July 8th. Citigroup raised their price objective on shares of Evolent Health from $4.00 to $5.50 and gave the company a “buy” rating in a research note on Friday, May 15th. Finally, Truist Financial downgraded shares of Evolent Health from a “buy” rating to a “hold” rating and set a $7.00 target price on the stock. in a research note on Tuesday, June 30th. Twelve investment analysts have rated the stock with a Buy rating, four have given a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $6.08.

Evolent Health Stock Performance

The company has a market cap of $668.69 million, a P/E ratio of -1.25 and a beta of 0.76. The company has a quick ratio of 1.32, a current ratio of 1.32 and a debt-to-equity ratio of 2.46. The business has a fifty day simple moving average of $4.63 and a two-hundred day simple moving average of $3.68.

Evolent Health (NYSE:EVH) last released its quarterly earnings results on Thursday, May 7th. The technology company reported ($0.02) EPS for the quarter, beating the consensus estimate of ($0.05) by $0.03. The firm had revenue of $496.25 million during the quarter, compared to analyst estimates of $534.00 million. Evolent Health had a negative net margin of 26.29% and a positive return on equity of 0.36%. The business’s revenue for the quarter was up 2.6% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.06 EPS. On average, sell-side analysts anticipate that Evolent Health, Inc will post -0.16 EPS for the current year.

Institutional Trading of Evolent Health

A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. CIBC Private Wealth Group LLC boosted its holdings 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 buying an additional 4,000 shares during the period. Strs Ohio purchased a new position in shares of Evolent Health in the first quarter valued at about $47,000. Headlands Technologies LLC bought a new position in shares of Evolent Health in the second quarter worth about $58,000. Quantbot Technologies LP purchased a new stake in shares of Evolent Health during the third quarter worth about $88,000. Finally, Caxton Associates LLP purchased a new stake in shares of Evolent Health during the third quarter worth about $93,000.

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.