Evolent Health (NYSE:EVH) Share Price Crosses Below 50 Day Moving Average - Time to Sell?

Key Points

• Evolent Health shares fell below their 50-day moving average, trading as low as $3.51 versus the $4.21 average, with nearly 1.9 million shares changing hands.
• Analysts maintain a generally positive outlook, with 11 Buy, four Hold and one Sell rating; the consensus price target is $5.96, well above the recent trading price.
• The company’s latest quarter beat EPS expectations and posted 46.9% year-over-year revenue growth, but revenue missed estimates, profitability remained negative, and an executive sold shares under a pre-arranged trading plan.

Evolent Health, Inc (NYSE:EVH - Get Free Report) shares passed below its 50-day moving average during trading on Thursday. The stock has a 50-day moving average of $4.21 and traded as low as $3.51. Evolent Health shares last traded at $3.5150, with a volume of 1,894,636 shares changing hands.

Analysts Set New Price Targets

Several analysts recently issued reports on the company. Weiss Ratings downgraded Evolent Health from a "sell (d-)" rating to a "sell (e+)" rating in a research note on Monday, September 14th. JPMorgan Chase & Co. upped their price objective on shares of Evolent Health from $5.00 to $6.00 and gave the stock an "overweight" rating in a research report on Tuesday, August 18th. Truist Financial lowered their price objective on Evolent Health from $7.00 to $6.00 and set a "hold" rating for the company in a research note on Wednesday, August 12th. Citigroup upgraded shares of Evolent Health from a "neutral" rating to a "buy" rating and lowered their price target for the stock from $6.75 to $6.00 in a report on Monday, August 10th. Finally, TD Cowen upped their target price on Evolent Health from $5.00 to $6.00 and gave the company a "buy" rating in a research report on Monday, August 17th. Eleven analysts have rated the stock with a Buy rating, four have assigned a Hold rating and one has assigned a Sell rating to the company's stock. According to MarketBeat.com, Evolent Health has an average rating of "Moderate Buy" and a consensus price target of $5.96.

Evolent Health Stock Down 2.9%

The company has a debt-to-equity ratio of 2.52, a quick ratio of 1.24 and a current ratio of 1.24. The stock's fifty day moving average is $4.21 and its two-hundred day moving average is $3.98. The company has a market cap of $397.40 million, a price-to-earnings ratio of -0.77 and a beta of 0.84.

Evolent Health (NYSE:EVH - Get Free Report) last announced its quarterly earnings results on Thursday, August 6th. The technology company reported $0.02 earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.01) by $0.03. Evolent Health had a negative return on equity of 4.27% and a negative net margin of 24.08%.The business had revenue of $484.50 million during the quarter, compared to the consensus estimate of $597.70 million. During the same quarter in the prior year, the company posted ($0.10) earnings per share. Evolent Health's revenue was up 46.9% compared to the same quarter last year. Sell-side analysts predict that Evolent Health, Inc will post -0.25 earnings per share for the current fiscal year.

Insider Buying and Selling at Evolent Health

In other news, President Daniel Mccarthy sold 65,892 shares of the stock in a transaction that occurred on Wednesday, August 26th. The shares were sold at an average price of $5.00, for a total transaction of $329,460.00. Following the completion of the transaction, the president directly owned 655,133 shares of the company's stock, valued at $3,275,665. This represents a 9.14% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 1.48% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Evolent Health

Several institutional investors have recently added to or reduced their stakes in the business. R Squared Ltd bought a new position in Evolent Health in the 1st quarter worth about $26,000. Sequoia Financial Advisors LLC bought a new position in Evolent Health in the second quarter valued at $78,000. Royal Bank of Canada raised its holdings in shares of Evolent Health by 51.6% during the 1st quarter. Royal Bank of Canada now owns 25,161 shares of the technology company's stock valued at $57,000 after buying an additional 8,563 shares in the last quarter. WINTON GROUP Ltd raised its stake in shares of Evolent Health by 29.6% during the second quarter. WINTON GROUP Ltd now owns 26,700 shares of the technology company's stock worth $145,000 after acquiring an additional 6,100 shares in the last quarter. Finally, Wealthfront Advisers LLC raised its position in Evolent Health by 40.8% in the 1st quarter. Wealthfront Advisers LLC now owns 28,083 shares of the technology company's stock worth $64,000 after purchasing an additional 8,136 shares during the period.

Evolent Health Company Profile

Evolent Health, Inc NYSE: EVH is a healthcare technology and services company focused on helping health plans and healthcare providers transition to value-based care. Its platform and services are designed to support the management of patient populations, improve clinical outcomes, and align healthcare payments with the quality and cost effectiveness of care.

The company provides solutions that may include specialty care management, population health management, administrative services, payment integrity, clinical decision support, and technology for coordinating care.

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