Evolent Health (NYSE:EVH) Stock Price Passes Below Fifty Day Moving Average – What’s Next?

Evolent Health, Inc (NYSE:EVH)’s stock price passed below its fifty day moving average during trading on Tuesday . The stock has a fifty day moving average of $5.19 and traded as low as $3.94. Evolent Health shares last traded at $4.1550, with a volume of 2,905,604 shares.

Analyst Upgrades and Downgrades

Several equities analysts recently weighed in on EVH shares. JPMorgan Chase & Co. decreased their target price on shares of Evolent Health from $13.00 to $7.00 and set an “overweight” rating for the company in a research note on Monday, November 17th. Citizens Jmp lowered their price objective on shares of Evolent Health from $13.00 to $11.00 and set a “market outperform” rating on the stock in a research note on Monday, November 10th. Weiss Ratings reiterated a “sell (e+)” rating on shares of Evolent Health in a report on Monday. Zacks Research upgraded Evolent Health from a “strong sell” rating to a “hold” rating in a research note on Monday, November 10th. Finally, BTIG Research decreased their target price on Evolent Health from $20.00 to $16.00 and set a “buy” rating on the stock in a report on Friday, November 7th. Fourteen analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $11.04.

Evolent Health Stock Performance

The stock has a 50 day moving average price of $5.19 and a two-hundred day moving average price of $7.98. The company has a market cap of $463.70 million, a P/E ratio of -2.63 and a beta of 0.28. The company has a quick ratio of 1.33, a current ratio of 1.33 and a debt-to-equity ratio of 1.25.

Evolent Health (NYSE:EVH) last posted its quarterly earnings data on Tuesday, June 4th. The technology company reported $0.21 earnings per share for the quarter. The firm had revenue of $427.70 million for the quarter. Evolent Health had a positive return on equity of 1.79% and a negative net margin of 6.24%. On average, research analysts predict that Evolent Health, Inc will post 0.08 earnings per share for the current fiscal year.

Insider Buying and Selling at Evolent Health

In other Evolent Health news, Director Brendan B. Springstubb purchased 10,000 shares of the company’s stock in a transaction dated Tuesday, November 18th. The stock was bought at an average cost of $3.82 per share, for a total transaction of $38,200.00. Following the completion of the transaction, the director owned 58,821 shares in the company, valued at approximately $224,696.22. This represents a 20.48% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is available through this link. Insiders own 1.60% of the company’s stock.

Institutional Trading of Evolent Health

A number of institutional investors have recently modified their holdings of EVH. Nisa Investment Advisors LLC increased its position in shares of Evolent Health by 88.0% in the second quarter. Nisa Investment Advisors LLC now owns 2,551 shares of the technology company’s stock worth $29,000 after purchasing an additional 1,194 shares during the period. Parallel Advisors LLC raised its position in shares of Evolent Health by 82.6% in the 2nd quarter. Parallel Advisors LLC now owns 3,487 shares of the technology company’s stock valued at $39,000 after buying an additional 1,577 shares in the last quarter. CIBC Private Wealth Group LLC lifted its holdings 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 acquiring an additional 4,000 shares during the period. Strs Ohio acquired a new stake in shares of Evolent Health during the 1st quarter worth approximately $47,000. Finally, Headlands Technologies LLC bought a new position in Evolent Health in the second quarter valued at approximately $58,000.

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.