Evolent Health (NYSE:EVH) Hits New 52-Week Low – Time to Sell?

Evolent Health, Inc. (NYSE:EVH) shares hit a new 52-week low during trading on Thursday . The company traded as low as $9.74 and last traded at $9.79, with a volume of 2041320 shares changing hands. The stock had previously closed at $10.37.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on the company. Truist Financial reduced their price objective on Evolent Health from $20.00 to $15.00 and set a “buy” rating on the stock in a research report on Wednesday, January 22nd. BTIG Research reduced their price target on Evolent Health from $36.00 to $29.00 and set a “buy” rating on the stock in a report on Tuesday, December 3rd. Oppenheimer dropped their price objective on shares of Evolent Health from $28.00 to $18.00 and set an “outperform” rating for the company in a report on Friday, January 24th. UBS Group reduced their target price on shares of Evolent Health from $27.00 to $14.00 and set a “buy” rating on the stock in a report on Thursday, January 16th. Finally, Needham & Company LLC initiated coverage on shares of Evolent Health in a research note on Friday, January 10th. They set a “buy” rating and a $15.00 price target for the company. One equities research analyst has rated the stock with a hold rating, eleven have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, Evolent Health currently has a consensus rating of “Buy” and a consensus target price of $18.38.

Evolent Health Trading Down 5.6 %

The firm’s 50-day moving average price is $11.17 and its 200 day moving average price is $19.84. The company has a market cap of $1.14 billion, a price-to-earnings ratio of -10.75 and a beta of 1.45. The company has a current ratio of 1.04, a quick ratio of 1.04 and a debt-to-equity ratio of 0.58.

Evolent Health (NYSE:EVH) last posted its quarterly earnings results on Thursday, November 7th. The technology company reported ($0.08) EPS for the quarter, missing analysts’ consensus estimates of $0.30 by ($0.38). Evolent Health had a positive return on equity of 6.30% and a negative net margin of 2.93%. The company had revenue of $621.40 million during the quarter, compared to analyst estimates of $625.58 million. During the same quarter in the previous year, the business posted $0.19 earnings per share. As a group, equities analysts expect that Evolent Health, Inc. will post 0.24 EPS for the current year.

Hedge Funds Weigh In On Evolent Health

Institutional investors have recently modified their holdings of the company. Covestor Ltd boosted its holdings in Evolent Health by 138.1% during the third quarter. Covestor Ltd now owns 1,424 shares of the technology company’s stock worth $40,000 after purchasing an additional 826 shares during the last quarter. GAMMA Investing LLC boosted its stake in shares of Evolent Health by 5,365.5% in the 3rd quarter. GAMMA Investing LLC now owns 1,585 shares of the technology company’s stock worth $45,000 after buying an additional 1,556 shares during the last quarter. Creative Planning grew its holdings in shares of Evolent Health by 12.2% in the second quarter. Creative Planning now owns 18,091 shares of the technology company’s stock valued at $346,000 after acquiring an additional 1,973 shares in the last quarter. Parkside Financial Bank & Trust grew its holdings in shares of Evolent Health by 90.7% in the fourth quarter. Parkside Financial Bank & Trust now owns 4,957 shares of the technology company’s stock valued at $56,000 after acquiring an additional 2,358 shares in the last quarter. Finally, R Squared Ltd purchased a new stake in shares of Evolent Health during the fourth quarter valued at approximately $31,000.

Evolent Health Company Profile

Evolent Health, Inc, through its subsidiary, Evolent Health LLC, offers specialty care management services in oncology, cardiology, and musculoskeletal markets in the United States. The company provides platform for health plan administration and value-based business infrastructure. It offers administrative services, such as health plan services, pharmacy benefits management, risk management, analytics and reporting, and leadership and management; and Identifi, a proprietary technology system that aggregates and analyzes data, manages care workflows, and engages patients.