Streamline Health Solutions Inc. (STRM) Stock Rating Lowered by Zacks Investment Research
Streamline Health Solutions Inc. (NASDAQ:STRM) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research note issued to investors on Thursday.
According to Zacks, “Streamline Health Solutions, Inc. is a leading supplier of workflow and document management tools, applications and services that assist strategic business partners and healthcare organizations to improve operational efficiencies through business process optimization. The Company provides integrated tools and technologies for automating document-intensive environments, including document workflow, document management, e-forms, portal connectivity, optical character recognition and interoperability. The Company’s workflow-based services offer solutions to inefficient and labor-intensive healthcare business processes throughout the revenue cycle, such as chart coding, abstracting and completion, remote physician order processing, pre-admission registration scanning and signature capture, insurance verification, secondary billing services, explanation of benefits processing and release of information processing. “
Streamline Health Solutions (NASDAQ:STRM) opened at 1.63 on Thursday. The firm’s market cap is $32.26 million. Streamline Health Solutions has a 12 month low of $1.08 and a 12 month high of $2.11. The firm’s 50-day moving average is $1.83 and its 200-day moving average is $1.50.
Streamline Health Solutions (NASDAQ:STRM) last issued its earnings results on Wednesday, September 7th. The company reported ($0.06) earnings per share for the quarter, topping the Zacks’ consensus estimate of ($0.08) by $0.02. The company had revenue of $7.40 million for the quarter, compared to analysts’ expectations of $7.02 million. Streamline Health Solutions had a negative net margin of 14.77% and a negative return on equity of 26.31%. Equities analysts expect that Streamline Health Solutions will post ($0.31) earnings per share for the current year.
In other news, SVP Shaun Linwood Priest acquired 23,400 shares of the company’s stock in a transaction that occurred on Monday, September 19th. The shares were acquired at an average price of $1.66 per share, with a total value of $38,844.00. The acquisition was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Company insiders own 12.60% of the company’s stock.
Hedge funds have recently added to or reduced their stakes in the company. First Light Asset Management LLC boosted its stake in Streamline Health Solutions by 2.0% in the second quarter. First Light Asset Management LLC now owns 1,792,041 shares of the company’s stock worth $2,150,000 after buying an additional 35,653 shares during the period. Great Point Partners LLC purchased a new stake in Streamline Health Solutions during the third quarter worth $279,000. Emerald Acquisition Ltd. purchased a new stake in Streamline Health Solutions during the second quarter worth $211,000. Finally, Nantahala Capital Management LLC purchased a new stake in Streamline Health Solutions during the third quarter worth $1,273,000. 43.45% of the stock is currently owned by institutional investors and hedge funds.
Streamline Health Solutions Company Profile
Streamline Health Solutions, Inc is engaged in providing healthcare information technology through the licensing of its Electronic Health Information Management, Patient Financial, Coding and Clinical Documentation Improvement (CDI), and other Workflow software applications, and the use of such applications by software as a service.
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