Castlight Health’s Lock-Up Period Set To End on September 10th (NASDAQ:CSLT)
Castlight Health’s (NASDAQ:CSLT) lock-up period is set to end on Wednesday, September 10th. Castlight Health had issued 11,100,000 shares in its public offering on March 14th, American Banking and Market News reports. The total size of the offering was $177,600,000 based on an initial share price of $16.00. After the expiration of Castlight Health’s lock-up period, company insiders and major shareholders will be able to sell their shares of the company.
Separately, analysts at Raymond James reiterated an “outperform” rating on shares of Castlight Health in a research note on Wednesday, July 30th. They now have a $19.00 price target on the stock, up previously from $15.00. Two equities research analysts have rated the stock with a hold rating and two have given a buy rating to the stock. The stock presently has an average rating of “Buy” and an average price target of $19.00.
Castlight Health (NASDAQ:CSLT) traded down 0.07% during mid-day trading on Friday, hitting $13.65. The stock had a trading volume of 28,305 shares. Castlight Health has a one year low of $10.05 and a one year high of $41.95. The stock has a 50-day moving average of $12.75 and a 200-day moving average of $16.35. The company’s market cap is $1.224 billion.
Castlight Health (NASDAQ:CSLT) last issued its quarterly earnings data on Wednesday, August 20th. The company reported ($0.24) EPS for the quarter, beating the Thomson Reuters consensus estimate of ($0.25) by $0.01.
In other Castlight Health news, major shareholder Maverick Capital Ltd bought 304,393 shares of Castlight Health stock in a transaction dated Friday, August 29th. The shares were purchased at an average price of $11.83 per share, with a total value of $3,600,969.19. The acquisition was disclosed in a legal filing with the SEC, which is available at this link. Large shareholders that own 10% or more of a company’s shares are required to disclose their sales and purchases with the SEC.
Castlight Health, Inc is a provider of cloud-based software, that enables enterprises to gain control over their rapidly escalating health care costs.
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