DarioHealth (NASDAQ:DRIO) Shares Cross Below Two Hundred Day Moving Average – Here’s Why

Shares of DarioHealth Corp. (NASDAQ:DRIO) crossed below its two hundred day moving average during trading on Thursday . The stock has a two hundred day moving average of $0.80 and traded as low as $0.60. DarioHealth shares last traded at $0.66, with a volume of 354,314 shares.

Wall Street Analysts Forecast Growth

Several analysts recently weighed in on DRIO shares. Stifel Nicolaus cut their price target on shares of DarioHealth from $3.50 to $2.00 and set a “buy” rating on the stock in a report on Tuesday, March 11th. TD Cowen cut shares of DarioHealth from a “buy” rating to a “hold” rating and reduced their price target for the company from $2.00 to $1.00 in a research report on Wednesday, January 29th.

DarioHealth Price Performance

The company has a debt-to-equity ratio of 0.35, a quick ratio of 1.32 and a current ratio of 1.57. The stock has a market cap of $25.90 million, a P/E ratio of -0.66 and a beta of 1.42. The firm has a 50-day moving average price of $0.67 and a 200-day moving average price of $0.80.

Hedge Funds Weigh In On DarioHealth

Several institutional investors and hedge funds have recently added to or reduced their stakes in DRIO. XTX Topco Ltd increased its stake in shares of DarioHealth by 81.4% in the 3rd quarter. XTX Topco Ltd now owns 29,455 shares of the company’s stock worth $33,000 after acquiring an additional 13,219 shares in the last quarter. DLK Investment Management LLC increased its stake in shares of DarioHealth by 40.9% during the fourth quarter. DLK Investment Management LLC now owns 141,657 shares of the company’s stock valued at $111,000 after purchasing an additional 41,107 shares in the last quarter. Finally, Appian Way Asset Management LP increased its stake in shares of DarioHealth by 2.5% during the third quarter. Appian Way Asset Management LP now owns 1,410,870 shares of the company’s stock valued at $1,580,000 after purchasing an additional 34,990 shares in the last quarter. Hedge funds and other institutional investors own 33.39% of the company’s stock.

About DarioHealth

DarioHealth Corp. operates as a digital health company in the United States, Canada, the European Union, Australia, and New Zealand. Its digital therapeutics platform and suite of solutions deliver personalized and dynamic interventions driven by data analytics and one-on-one coaching for diabetes, hypertension, weight management, musculoskeletal pain, and behavioral health.