eHealth (NASDAQ:EHTH) Shares Cross Above Two Hundred Day Moving Average - Here's What Happened

Key Points

• eHealth, Inc. (NASDAQ:EHTH) shares have crossed above their 200-day moving average of $4.56, trading as high as $5.27 during recent sessions.
• Analysts from various brokerages have adjusted their ratings, with Wall Street Zen downgrading the stock to a "sell" and UBS Group lowering the price target to $5.00 while maintaining a "neutral" rating.
• Institutional investors now hold 79.54% of eHealth's stock, indicating significant interest among large financial entities in the company.

Shares of eHealth, Inc. (NASDAQ:EHTH - Get Free Report) crossed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $4.56 and traded as high as $5.27. eHealth shares last traded at $5.26, with a volume of 1,076,639 shares traded.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on EHTH. Wall Street Zen cut eHealth from a "hold" rating to a "sell" rating in a report on Saturday, August 9th. UBS Group dropped their price target on eHealth from $7.00 to $5.00 and set a "neutral" rating for the company in a report on Thursday, August 7th. Finally, Weiss Ratings restated a "sell (d)" rating on shares of eHealth in a research note on Saturday, September 27th. One investment analyst has rated the stock with a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, the stock has an average rating of "Hold" and an average price target of $7.67.

eHealth Stock Up 18.5%

The firm has a market capitalization of $160.75 million, a P/E ratio of -8.35 and a beta of 1.29. The firm has a 50 day moving average of $3.85 and a 200-day moving average of $4.56.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of EHTH. Jefferies Financial Group Inc. lifted its position in eHealth by 15.6% during the first quarter. Jefferies Financial Group Inc. now owns 20,351 shares of the financial services provider's stock worth $136,000 after purchasing an additional 2,751 shares during the period. Russell Investments Group Ltd. raised its position in shares of eHealth by 20.0% in the 1st quarter. Russell Investments Group Ltd. now owns 32,512 shares of the financial services provider's stock valued at $217,000 after buying an additional 5,427 shares in the last quarter. Engineers Gate Manager LP lifted its holdings in shares of eHealth by 16.6% during the 2nd quarter. Engineers Gate Manager LP now owns 41,995 shares of the financial services provider's stock worth $183,000 after acquiring an additional 5,975 shares during the period. American Century Companies Inc. boosted its position in shares of eHealth by 11.1% during the 2nd quarter. American Century Companies Inc. now owns 65,785 shares of the financial services provider's stock worth $286,000 after acquiring an additional 6,571 shares in the last quarter. Finally, Police & Firemen s Retirement System of New Jersey acquired a new stake in shares of eHealth during the 2nd quarter worth approximately $29,000. Institutional investors own 79.54% of the company's stock.

eHealth Company Profile

eHealth, Inc operates a health insurance marketplace that provides consumer engagement, education, and health insurance enrollment solutions in the United States. The company operates in two segments, Medicare; and Employer and Individual. The Medicare segment offers sale of Medicare-related health insurance plans, which includes Medicare advantage, Medicare Supplement, and Medicare Part D prescription drug plans to Medicare-eligible customers including but not limited to, dental, and vision insurance, as well as advertising program for marketing and other services.

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