Evolent Health (NYSE:EVH) Stock Price Passes Below 50-Day Moving Average – Here’s Why

Shares of Evolent Health, Inc (NYSE:EVH) crossed below its 50-day moving average during trading on Monday . The stock has a 50-day moving average of $3.69 and traded as low as $2.62. Evolent Health shares last traded at $2.7850, with a volume of 2,872,468 shares.

Analyst Upgrades and Downgrades

Several research firms recently commented on EVH. JPMorgan Chase & Co. reduced their price objective on Evolent Health from $13.00 to $7.00 and set an “overweight” rating for the company in a report on Monday, November 17th. Piper Sandler set a $6.00 price target on shares of Evolent Health in a research note on Tuesday, December 2nd. Oppenheimer decreased their price objective on shares of Evolent Health from $18.00 to $12.00 and set an “outperform” rating for the company in a report on Wednesday, November 12th. Canaccord Genuity Group dropped their target price on shares of Evolent Health from $16.00 to $9.00 and set a “buy” rating on the stock in a report on Friday, November 14th. Finally, BTIG Research cut their target price on shares of Evolent Health from $16.00 to $10.00 and set a “buy” rating for the company in a research report on Monday, February 2nd. Twelve equities research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $9.50.

Evolent Health Price Performance

The company has a debt-to-equity ratio of 1.25, a current ratio of 1.33 and a quick ratio of 1.33. The company has a market capitalization of $303.55 million, a P/E ratio of -1.72 and a beta of 0.27. The firm’s 50-day moving average is $3.66 and its 200-day moving average is $6.11.

Institutional Trading of Evolent Health

A number of hedge funds and other institutional investors have recently bought and sold shares of EVH. Nisa Investment Advisors LLC lifted its position in shares of Evolent Health by 88.0% during the 2nd quarter. Nisa Investment Advisors LLC now owns 2,551 shares of the technology company’s stock valued at $29,000 after buying an additional 1,194 shares in the last quarter. Police & Firemen s Retirement System of New Jersey raised its stake in Evolent Health by 10.8% during the 2nd quarter. Police & Firemen s Retirement System of New Jersey now owns 27,242 shares of the technology company’s stock worth $307,000 after acquiring an additional 2,666 shares during the period. Cetera Trust Company N.A lifted its holdings in Evolent Health by 47.3% during the second quarter. Cetera Trust Company N.A now owns 9,725 shares of the technology company’s stock valued at $110,000 after purchasing an additional 3,125 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its position in shares of Evolent Health by 2.9% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 128,527 shares of the technology company’s stock worth $1,217,000 after purchasing an additional 3,572 shares during the period. Finally, CIBC Private Wealth Group LLC increased its stake in shares of Evolent Health by 4,000.0% in the third 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 in the last quarter.

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.