Evolent Health (NYSE:EVH) Stock Price Crosses Below Fifty Day Moving Average – Should You Sell?

Evolent Health, Inc (NYSE:EVH) passed below its 50 day moving average during trading on Wednesday . The stock has a 50 day moving average of $3.36 and traded as low as $2.92. Evolent Health shares last traded at $3.0150, with a volume of 2,340,146 shares.

Analyst Ratings Changes

Several analysts recently commented on EVH shares. BTIG Research dropped their price target on shares of Evolent Health from $10.00 to $8.00 and set a “buy” rating on the stock in a research report on Wednesday, February 25th. Canaccord Genuity Group lowered their target price on shares of Evolent Health from $16.00 to $9.00 and set a “buy” rating on the stock in a research note on Friday, November 14th. Royal Bank Of Canada dropped their target price on Evolent Health from $5.00 to $3.00 and set a “sector perform” rating on the stock in a research report on Wednesday, February 25th. Oppenheimer cut their price target on Evolent Health from $12.00 to $6.00 and set an “outperform” rating for the company in a research note on Monday, March 2nd. Finally, Stephens raised Evolent Health from an “equal weight” rating to an “overweight” rating and set a $7.00 price target for the company in a report on Thursday, November 13th. Thirteen investment analysts have rated the stock with a Buy rating, three have given a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $6.04.

Evolent Health Price Performance

The company has a quick ratio of 1.31, a current ratio of 1.31 and a debt-to-equity ratio of 2.34. The stock’s 50-day simple moving average is $3.33 and its two-hundred day simple moving average is $5.39. The company has a market capitalization of $333.24 million, a price-to-earnings ratio of -0.58 and a beta of 0.24.

Evolent Health (NYSE:EVH) last announced its earnings results on Tuesday, February 24th. The technology company reported $0.08 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.06 by $0.02. The business had revenue of $468.72 million for the quarter, compared to analyst estimates of $468.48 million. Evolent Health had a negative net margin of 28.49% and a positive return on equity of 1.49%. The company’s revenue for the quarter was down 27.5% compared to the same quarter last year. During the same quarter last year, the business earned ($0.02) earnings per share. Equities research analysts predict that Evolent Health, Inc will post 0.08 earnings per share for the current year.

Institutional Investors Weigh In On Evolent Health

Several large investors have recently bought and sold shares of the company. Brighton Jones LLC acquired a new stake in shares of Evolent Health in the fourth quarter worth approximately $3,927,000. Geode Capital Management LLC raised its stake in Evolent Health by 3.1% in the 2nd quarter. Geode Capital Management LLC now owns 2,667,642 shares of the technology company’s stock valued at $30,041,000 after purchasing an additional 80,155 shares during the last quarter. Walleye Capital LLC lifted its holdings in Evolent Health by 1,198.0% in the 2nd quarter. Walleye Capital LLC now owns 647,761 shares of the technology company’s stock valued at $7,294,000 after purchasing an additional 597,858 shares in the last quarter. Edgestream Partners L.P. purchased a new position in Evolent Health in the 2nd quarter valued at $2,587,000. Finally, Connor Clark & Lunn Investment Management Ltd. boosted its stake in Evolent Health by 79.1% during the 2nd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 403,677 shares of the technology company’s stock worth $4,545,000 after purchasing an additional 178,307 shares during the last quarter.

About Evolent Health

Evolent Health, Inc is a U.S.-based healthcare technology and services company that partners with health systems, physician organizations and health plans to design, build and operate value-based care programs. Headquartered in Arlington, Virginia, the company was founded in 2011 as a joint venture between TPG and the University of Pittsburgh Medical Center (UPMC). Evolent Health aims to help its clients transition from fee-for-service payment models to value-based care arrangements by leveraging its proprietary technology platforms and clinical expertise.

The company’s core offerings include care management solutions, population health analytics and clinical advisory services.