Evolent Health (NYSE:EVH) Stock Price Down 11.5% – Time to Sell?

Evolent Health, Inc (NYSE:EVH)’s share price dropped 11.5% during trading on Thursday . The stock traded as low as $5.06 and last traded at $4.9320. 420,571 shares changed hands during mid-day trading, a decline of 85% from the average daily volume of 2,840,544 shares. The stock had previously closed at $5.57.

Wall Street Analysts Forecast Growth

Several research analysts recently weighed in on the company. Weiss Ratings lowered Evolent Health from a “sell (d-)” rating to a “sell (e+)” rating in a research report on Tuesday. Citigroup restated a “sell” rating and set a $6.75 price objective (up from $5.50) on shares of Evolent Health in a research report on Thursday. Truist Financial cut 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. Canaccord Genuity Group raised their price target on shares of Evolent Health from $6.00 to $7.00 and gave the stock a “buy” rating in a report on Tuesday. Finally, Needham & Company LLC increased their target price on shares of Evolent Health from $4.00 to $5.00 and gave the stock a “buy” rating in a research report on Thursday, May 7th. Eleven research analysts have rated the stock with a Buy rating, four have issued a Hold rating and two have given a Sell rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $6.25.

Evolent Health Stock Performance

The firm has a 50-day simple moving average of $4.85 and a two-hundred day simple moving average of $3.76. The company has a current ratio of 1.32, a quick ratio of 1.32 and a debt-to-equity ratio of 2.46. The company has a market capitalization of $470.84 million, a price-to-earnings ratio of -0.88 and a beta of 0.76.

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

Institutional Trading of Evolent Health

Large investors have recently added to or reduced their stakes in the business. CIBC Private Wealth Group LLC increased its stake in shares of Evolent Health by 4,000.0% during the 3rd quarter. CIBC Private Wealth Group LLC now owns 4,100 shares of the technology company’s stock worth $35,000 after purchasing an additional 4,000 shares during the last quarter. Strs Ohio bought a new position in shares of Evolent Health during the 1st quarter valued at $47,000. Headlands Technologies LLC acquired a new stake in shares of Evolent Health in the 2nd quarter valued at $58,000. Quantbot Technologies LP acquired a new stake in shares of Evolent Health in the 3rd quarter valued at $88,000. Finally, Caxton Associates LLP bought a new stake in Evolent Health in the third quarter worth $93,000.

About Evolent Health

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.