Evolent Health (NYSE:EVH) Reaches New 12-Month Low – Time to Sell?

Evolent Health, Inc. (NYSE:EVH)’s stock price hit a new 52-week low during trading on Wednesday . The stock traded as low as $9.55 and last traded at $9.87, with a volume of 1535148 shares trading hands. The stock had previously closed at $9.94.

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on EVH. UBS Group decreased 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. JPMorgan Chase & Co. decreased their price target on shares of Evolent Health from $15.00 to $13.00 and set an “overweight” rating on the stock in a report on Tuesday, January 28th. Citigroup dropped their price objective on Evolent Health from $21.00 to $18.00 and set a “buy” rating for the company in a research note on Friday, January 10th. Barclays reduced their target price on Evolent Health from $39.00 to $19.00 and set an “overweight” rating for the company in a research report on Monday, November 11th. Finally, Needham & Company LLC assumed coverage on Evolent Health in a report on Friday, January 10th. They issued a “buy” rating and a $15.00 price target on the stock. One investment analyst has rated the stock with a hold rating, eleven have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, Evolent Health has an average rating of “Buy” and a consensus target price of $18.38.

Evolent Health Stock Performance

The company has a debt-to-equity ratio of 0.58, a current ratio of 1.04 and a quick ratio of 1.04. The company has a 50 day simple moving average of $10.95 and a 200-day simple moving average of $19.50. The firm has a market cap of $1.15 billion, a PE ratio of -10.84 and a beta of 1.45.

Institutional Investors Weigh In On Evolent Health

A number of institutional investors have recently made changes to their positions in EVH. Covestor Ltd increased its stake in Evolent Health by 138.1% in the 3rd 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 period. GAMMA Investing LLC boosted its stake in shares of Evolent Health by 5,365.5% during the third quarter. GAMMA Investing LLC now owns 1,585 shares of the technology company’s stock valued at $45,000 after purchasing an additional 1,556 shares during the period. Summit Creek Advisors LLC grew its holdings in shares of Evolent Health by 0.8% in the fourth quarter. Summit Creek Advisors LLC now owns 202,114 shares of the technology company’s stock worth $2,274,000 after purchasing an additional 1,636 shares during the last quarter. Creative Planning increased its stake 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 worth $346,000 after buying an additional 1,973 shares during the period. Finally, Parkside Financial Bank & Trust raised its holdings in Evolent Health by 90.7% during the 4th 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.

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.