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

Evolent Health, Inc. (NYSE:EVH) shares reached a new 52-week low during mid-day trading on Wednesday . The stock traded as low as $8.35 and last traded at $8.49, with a volume of 467309 shares traded. The stock had previously closed at $8.55.

Analyst Upgrades and Downgrades

Several brokerages recently commented on EVH. Piper Sandler reissued an “overweight” rating and set a $16.00 price objective (down from $17.00) on shares of Evolent Health in a research report on Friday, February 21st. BTIG Research cut their price target on shares of Evolent Health from $36.00 to $29.00 and set a “buy” rating on the stock in a report on Tuesday, December 3rd. Citigroup reduced their price target on shares of Evolent Health from $21.00 to $18.00 and set a “buy” rating for the company in a research report on Friday, January 10th. Stephens lowered their price objective on Evolent Health from $16.00 to $12.00 and set an “equal weight” rating on the stock in a research report on Tuesday, January 21st. Finally, Royal Bank of Canada reduced their target price on Evolent Health from $20.00 to $17.00 and set an “outperform” rating for the company in a report on Tuesday, January 14th. One equities research analyst has rated the stock with a hold rating, twelve have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, Evolent Health has an average rating of “Buy” and a consensus target price of $17.79.

Evolent Health Stock Performance

The company has a market cap of $1.02 billion, a PE ratio of -10.63 and a beta of 1.45. The company has a quick ratio of 1.04, a current ratio of 1.04 and a debt-to-equity ratio of 0.58. The business’s fifty day moving average is $10.56 and its 200-day moving average is $18.14.

Evolent Health (NYSE:EVH) last issued its quarterly earnings data on Thursday, February 20th. The technology company reported $0.03 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.38 by ($0.35). Evolent Health had a negative net margin of 2.41% and a positive return on equity of 5.73%. The business had revenue of $646.54 million for the quarter, compared to the consensus estimate of $650.92 million. As a group, research analysts predict that Evolent Health, Inc. will post 0.08 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of EVH. Pilgrim Partners Asia Pte Ltd bought a new position in shares of Evolent Health in the fourth quarter worth about $26,000. R Squared Ltd bought a new position in Evolent Health in the 4th quarter worth approximately $31,000. AlphaQuest LLC boosted its stake in Evolent Health by 21,650.0% in the 4th quarter. AlphaQuest LLC now owns 3,045 shares of the technology company’s stock worth $34,000 after purchasing an additional 3,031 shares during the period. Covestor Ltd grew its holdings in Evolent Health by 138.1% during the 3rd quarter. Covestor Ltd now owns 1,424 shares of the technology company’s stock valued at $40,000 after buying an additional 826 shares in the last quarter. Finally, Parkside Financial Bank & Trust raised its position in shares of Evolent Health by 90.7% during the fourth quarter. Parkside Financial Bank & Trust now owns 4,957 shares of the technology company’s stock valued at $56,000 after buying an additional 2,358 shares during the last quarter.

About Evolent Health

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.