Castlight Health, inc. (NYSE:CSLT) was downgraded by stock analysts at ValuEngine from a “hold” rating to a “sell” rating in a research note issued to investors on Thursday.

CSLT has been the topic of a number of other reports. Zacks Investment Research lowered Castlight Health, inc. from a “hold” rating to a “sell” rating in a report on Thursday, April 27th. BidaskClub lowered Castlight Health, inc. from a “buy” rating to a “hold” rating in a report on Monday, July 24th. Morgan Stanley lowered Castlight Health, inc. from an “equal weight” rating to an “underweight” rating and lowered their price target for the company from $4.00 to $3.75 in a report on Friday, May 12th. Chardan Capital assumed coverage on Castlight Health, inc. in a report on Tuesday, June 6th. They set a “buy” rating and a $4.50 price target on the stock. Finally, Dougherty & Co assumed coverage on Castlight Health, inc. in a report on Wednesday, May 10th. They set a “buy” rating and a $5.50 price target on the stock. Three investment analysts have rated the stock with a sell rating, six have issued a hold rating and two have assigned a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and an average price target of $4.50.

Shares of Castlight Health, inc. (CSLT) opened at 4.00 on Thursday. The stock’s market capitalization is $522.15 million. The firm’s 50 day moving average is $4.28 and its 200 day moving average is $3.78. Castlight Health, inc. has a 12 month low of $3.05 and a 12 month high of $5.50.

Castlight Health, inc. (NYSE:CSLT) last issued its quarterly earnings results on Wednesday, August 2nd. The software maker reported ($0.07) EPS for the quarter, beating analysts’ consensus estimates of ($0.09) by $0.02. The company had revenue of $32.10 million for the quarter, compared to analyst estimates of $31.14 million. Castlight Health, inc. had a negative return on equity of 36.30% and a negative net margin of 42.54%. The company’s quarterly revenue was up 36.0% compared to the same quarter last year. During the same period last year, the company earned ($0.11) earnings per share. On average, equities analysts predict that Castlight Health, inc. will post ($0.25) earnings per share for the current fiscal year.

COPYRIGHT VIOLATION NOTICE: This piece was first published by Daily Political and is owned by of Daily Political. If you are accessing this piece on another website, it was stolen and reposted in violation of international copyright & trademark legislation. The correct version of this piece can be read at https://www.dailypolitical.com/2017/08/10/valuengine-lowers-castlight-health-inc-cslt-to-sell.html.

In related news, CAO Priya Jain sold 7,858 shares of the stock in a transaction on Wednesday, May 17th. The stock was sold at an average price of $3.65, for a total value of $28,681.70. Following the completion of the transaction, the chief accounting officer now owns 20,000 shares in the company, valued at approximately $73,000. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Giovanni M. Colella sold 11,456 shares of the stock in a transaction on Wednesday, May 17th. The shares were sold at an average price of $3.75, for a total value of $42,960.00. Following the completion of the transaction, the insider now owns 88,094 shares of the company’s stock, valued at approximately $330,352.50. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 37,051 shares of company stock worth $140,343. 37.43% of the stock is owned by corporate insiders.

Several institutional investors have recently added to or reduced their stakes in the stock. Cowen Prime Services LLC raised its position in Castlight Health, inc. by 61.9% in the second quarter. Cowen Prime Services LLC now owns 81,100 shares of the software maker’s stock worth $337,000 after buying an additional 31,000 shares during the period. General Electric Co. bought a new position in Castlight Health, inc. during the second quarter worth $4,338,000. Bank of New York Mellon Corp raised its position in Castlight Health, inc. by 52.9% in the second quarter. Bank of New York Mellon Corp now owns 222,660 shares of the software maker’s stock worth $924,000 after buying an additional 77,011 shares during the period. Jaffetilchin Investment Partners LLC bought a new position in Castlight Health, inc. during the second quarter worth $236,000. Finally, Rhumbline Advisers raised its position in Castlight Health, inc. by 54.2% in the second quarter. Rhumbline Advisers now owns 65,904 shares of the software maker’s stock worth $274,000 after buying an additional 23,170 shares during the period. Institutional investors and hedge funds own 39.10% of the company’s stock.

Castlight Health, inc. Company Profile

Castlight Health, Inc offers a health benefits platform that engages employees to make healthcare decisions, and enables employers to communicate and measure their benefit programs. The Company operates through cloud-based products segment. Its technology offering aggregates data and applies analytics to make healthcare data transparent.

To view ValuEngine’s full report, visit ValuEngine’s official website.

Analyst Recommendations for Castlight Health, inc. (NYSE:CSLT)

Receive News & Ratings for Castlight Health inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Castlight Health inc. and related companies with MarketBeat.com's FREE daily email newsletter.