DarioHealth (NASDAQ:DRIO) Stock Price Crosses Below 200 Day Moving Average – Here’s What Happened

Shares of DarioHealth Corp. (NASDAQ:DRIO) passed below its two hundred day moving average during trading on Friday. The stock has a two hundred day moving average of $7.16 and traded as low as $4.82. DarioHealth shares last traded at $4.82, with a volume of 26,285 shares trading hands.

Analysts Set New Price Targets

Several research firms have recently weighed in on DRIO. Alliance Global Partners started coverage on DarioHealth in a report on Wednesday, August 19th. They set a “buy” rating and a $12.00 price target on the stock. TD Cowen dropped their price objective on shares of DarioHealth from $11.00 to $8.00 and set a “hold” rating for the company in a report on Wednesday, August 12th. Finally, Weiss Ratings reiterated a “sell (e+)” rating on shares of DarioHealth in a report on Tuesday, October 6th. Two investment 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, DarioHealth currently has an average rating of “Hold” and an average price target of $10.00.

DarioHealth Price Performance

The firm has a market capitalization of $47.24 million, a P/E ratio of -0.79 and a beta of 1.18. The company has a fifty day moving average of $6.75 and a 200 day moving average of $7.16. The company has a debt-to-equity ratio of 0.56, a current ratio of 2.31 and a quick ratio of 1.92.

DarioHealth (NASDAQ:DRIO) last released its quarterly earnings results on Tuesday, August 11th. The company reported ($0.85) earnings per share (EPS) for the quarter, topping the consensus estimate of ($1.22) by $0.37. The firm had revenue of $5.18 million during the quarter, compared to analyst estimates of $5.92 million. DarioHealth had a negative net margin of 169.87% and a negative return on equity of 54.81%. Sell-side analysts predict that DarioHealth Corp. will post -2.94 earnings per share for the current year.

Insider Buying and Selling at DarioHealth

In other news, Director Dennis Matheis acquired 14,430 shares of the firm’s stock in a transaction dated Thursday, July 23rd. The stock was bought at an average cost of $6.93 per share, for a total transaction of $99,999.90. Following the completion of the transaction, the director directly owned 43,026 shares in the company, valued at $298,170.18. This represents a 50.46% increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. 3.50% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On DarioHealth

An institutional investor recently bought a new position in DarioHealth stock. BlackRock Inc. purchased a new stake in shares of DarioHealth Corp. (NASDAQ:DRIO) during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor purchased 37,796 shares of the company’s stock, valued at approximately $249,000. BlackRock Inc. owned about 0.51% of DarioHealth at the end of the most recent quarter. Institutional investors and hedge funds own 33.39% of the company’s stock.

DarioHealth Company Profile

DarioHealth Corp. is a digital health company that develops technology designed to help people manage chronic and behavioral health conditions. Its platform combines mobile applications, connected devices, data analytics and personalized coaching to support health-related decision-making and engagement.

The company’s offerings have included tools for diabetes management, hypertension, weight management, musculoskeletal conditions and behavioral health. Products may incorporate connected glucose meters, blood-pressure monitors and other devices that transmit health information to the Dario app, where users can track data, receive insights and access educational or coaching resources.

DarioHealth primarily serves consumers through partnerships with employers, health plans, health-care providers and other organizations.