Castlight Health, inc. (NYSE:CSLT) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a report released on Tuesday.

According to Zacks, “Castlight Health, Inc. operates as a provider of cloud-based software. Its enables enterprises to gain control over their rapidly escalating health care costs. The Company’s Enterprise Healthcare Cloud allows its customers to conquer the complexity of the existing health care system by providing personalized, actionable information to their employees, implementing technology-enabled benefit designs and integrating disparate systems and applications. Castlight Health, Inc. is headquartered in San Francisco, California. “

Other analysts have also recently issued research reports about the company. ValuEngine cut Castlight Health, inc. from a “hold” rating to a “sell” rating in a research report on Friday, May 19th. Chardan Capital started coverage on Castlight Health, inc. in a research report on Tuesday, June 6th. They issued a “buy” rating and a $4.50 price objective for the company. Dougherty & Co began coverage on Castlight Health, inc. in a research report on Wednesday, May 10th. They set a “buy” rating and a $5.50 price target for the company. Cowen and Company reaffirmed a “market perform” rating and set a $4.00 price target on shares of Castlight Health, inc. in a research report on Wednesday, March 8th. Finally, Morgan Stanley cut Castlight Health, inc. from an “equal weight” rating to an “underweight” rating and lowered their price target for the stock from $4.00 to $3.75 in a research report on Friday, May 12th. Two equities research analysts have rated the stock with a sell rating, six have given a hold rating and two have given a buy rating to the company. The stock presently has a consensus rating of “Hold” and an average target price of $4.44.

Castlight Health, inc. (NYSE:CSLT) remained flat at $4.30 on Tuesday. The company’s stock had a trading volume of 199,982 shares. The stock’s market capitalization is $561.21 million. The stock has a 50-day moving average of $3.81 and a 200-day moving average of $3.84. Castlight Health, inc. has a 12-month low of $3.05 and a 12-month high of $5.50.

Castlight Health, inc. (NYSE:CSLT) last posted its quarterly earnings data on Wednesday, April 26th. The software maker reported ($0.05) earnings per share for the quarter, hitting the Zacks’ consensus estimate of ($0.05). The firm had revenue of $27.70 million during the quarter, compared to analysts’ expectations of $28.40 million. Castlight Health, inc. had a negative return on equity of 43.23% and a negative net margin of 48.72%. The business’s quarterly revenue was up 22.0% on a year-over-year basis. During the same quarter last year, the firm earned ($0.13) EPS. Equities research analysts anticipate that Castlight Health, inc. will post ($0.26) earnings per share for the current year.

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In other Castlight Health, inc. news, insider Giovanni M. Colella sold 11,456 shares of Castlight Health, inc. stock in a transaction dated Wednesday, May 17th. The stock was sold at an average price of $3.75, for a total transaction of $42,960.00. Following the completion of the transaction, the insider now owns 88,094 shares in the company, valued at approximately $330,352.50. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CAO Priya Jain sold 7,858 shares of Castlight Health, inc. stock in a transaction dated Wednesday, May 17th. The shares were sold at an average price of $3.65, for a total value of $28,681.70. Following the transaction, the chief accounting officer now owns 20,000 shares of the company’s stock, valued at approximately $73,000. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 37,051 shares of company stock valued at $140,343. 24.38% of the stock is currently owned by insiders.

Several institutional investors have recently added to or reduced their stakes in CSLT. GMT Capital Corp bought a new position in Castlight Health, inc. during the first quarter worth $2,568,000. Royce & Associates LP raised its position in Castlight Health, inc. by 244.7% in the first quarter. Royce & Associates LP now owns 463,709 shares of the software maker’s stock worth $1,693,000 after buying an additional 329,188 shares during the last quarter. FMR LLC raised its position in Castlight Health, inc. by 3.4% in the first quarter. FMR LLC now owns 7,665,919 shares of the software maker’s stock worth $27,980,000 after buying an additional 254,804 shares during the last quarter. Russell Investments Group Ltd. bought a new position in Castlight Health, inc. during the fourth quarter worth $1,054,000. Finally, Vanguard Group Inc. raised its position in Castlight Health, inc. by 7.6% in the first quarter. Vanguard Group Inc. now owns 2,673,760 shares of the software maker’s stock worth $9,760,000 after buying an additional 189,359 shares during the last quarter. Institutional investors and hedge funds own 39.35% of the company’s stock.

About Castlight Health, inc.

Castlight Health, Inc offers a health benefits platform that engages employees to make healthcare decisions, and enables employers to communicate and measure their benefit programs. The Company operates through cloud-based products segment. Its technology offering aggregates data and applies analytics to make healthcare data transparent.

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