Castlight Health, inc. (CSLT) Lifted to “Sell” at BidaskClub
Castlight Health, inc. (NYSE:CSLT) was upgraded by analysts at BidaskClub from a “strong sell” rating to a “sell” rating in a report released on Wednesday.
A number of other research firms have also weighed in on CSLT. Cowen and Company reaffirmed a “market perform” rating and issued a $4.50 price objective (up previously from $4.00) on shares of Castlight Health, inc. in a research note on Thursday, August 3rd. ValuEngine raised Castlight Health, inc. from a “sell” rating to a “hold” rating in a research note on Tuesday, August 1st. Zacks Investment Research raised Castlight Health, inc. from a “sell” rating to a “hold” rating in a research note on Tuesday, June 27th. Dougherty & Co reaffirmed a “buy” rating on shares of Castlight Health, inc. in a research note on Thursday, August 17th. Finally, Chardan Capital began coverage on Castlight Health, inc. in a research note on Tuesday, June 6th. They issued a “buy” rating and a $4.50 price objective for the company. Three investment analysts have rated the stock with a sell rating, five have assigned a hold rating and two have given a buy rating to the company’s stock. Castlight Health, inc. presently has a consensus rating of “Hold” and an average target price of $4.57.
Castlight Health, inc. (CSLT) traded down 2.41% during mid-day trading on Wednesday, hitting $4.05. The company’s stock had a trading volume of 860,988 shares. Castlight Health, inc. has a 52-week low of $3.05 and a 52-week high of $5.50. The stock’s market cap is $318.24 million. The company’s 50 day moving average is $3.99 and its 200-day moving average is $3.89.
Castlight Health, inc. (NYSE:CSLT) last released its quarterly earnings data on Wednesday, August 2nd. The software maker reported ($0.07) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.09) by $0.02. The firm had revenue of $32.10 million during the quarter, compared to analyst estimates of $31.14 million. Castlight Health, inc. had a negative return on equity of 36.30% and a negative net margin of 42.54%. The business’s quarterly revenue was up 36.0% compared to the same quarter last year. During the same quarter in the prior year, the company posted ($0.11) earnings per share. On average, equities analysts predict that Castlight Health, inc. will post ($0.25) EPS for the current fiscal year.
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In other Castlight Health, inc. news, CFO Mangini Siobhan Nolan sold 28,414 shares of the company’s stock in a transaction that occurred on Thursday, August 17th. The stock was sold at an average price of $3.66, for a total transaction of $103,995.24. Following the sale, the chief financial officer now directly owns 41,622 shares in the company, valued at $152,336.52. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CEO John C. Doyle sold 35,184 shares of the company’s stock in a transaction that occurred on Thursday, August 17th. The shares were sold at an average price of $3.65, for a total value of $128,421.60. Following the sale, the chief executive officer now owns 75,639 shares in the company, valued at $276,082.35. The disclosure for this sale can be found here. Insiders sold 208,287 shares of company stock worth $795,240 over the last quarter. 37.43% of the stock is owned by company insiders.
Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Oxford Asset Management bought a new position in shares of Castlight Health, inc. during the first quarter valued at approximately $102,000. Voya Investment Management LLC grew its stake in Castlight Health, inc. by 25.4% in the second quarter. Voya Investment Management LLC now owns 26,929 shares of the software maker’s stock worth $112,000 after purchasing an additional 5,453 shares in the last quarter. Stifel Financial Corp grew its stake in Castlight Health, inc. by 4.3% in the first quarter. Stifel Financial Corp now owns 36,500 shares of the software maker’s stock worth $133,000 after purchasing an additional 1,500 shares in the last quarter. Nationwide Fund Advisors grew its stake in Castlight Health, inc. by 49.5% in the second quarter. Nationwide Fund Advisors now owns 36,418 shares of the software maker’s stock worth $151,000 after purchasing an additional 12,061 shares in the last quarter. Finally, FNY Partners Fund LP bought a new position in Castlight Health, inc. in the first quarter worth approximately $164,000. 41.30% of the stock is currently owned by hedge funds and other institutional investors.
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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