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

Key Points

• Evolent Health shares fell 4.8% on Wednesday, trading as low as $5.72 before last changing hands near $5.89. Volume was well below normal, with about 662,734 shares traded versus an average of 2.88 million.
• Despite the drop, Wall Street sentiment remains mixed but generally positive: 12 analysts rate the stock a Buy, four rate it Hold, and one rates it Sell. The consensus target price is about $6.08, close to the current trading range.
• The company’s latest earnings showed a smaller-than-expected loss of $0.02 per share, but revenue of $496.25 million missed estimates. Evolent also reported a negative net margin and is expected to post a full-year loss of $0.16 per share.

Evolent Health, Inc (NYSE:EVH - Get Free Report)'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 - Get Free Report) 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.