Evolent Health (NYSE:EVH) Stock Price Passes Below 50 Day Moving Average – Time to Sell?

Evolent Health, Inc (NYSE:EVH)’s stock price passed below its 50 day moving average during trading on Monday . The stock has a 50 day moving average of $3.69 and traded as low as $2.62. Evolent Health shares last traded at $2.7850, with a volume of 2,872,468 shares trading hands.

Analyst Upgrades and Downgrades

A number of brokerages have weighed in on EVH. Zacks Research upgraded Evolent Health from a “strong sell” rating to a “hold” rating in a report on Monday, November 10th. Piper Sandler set a $6.00 price objective on shares of Evolent Health in a research report on Tuesday, December 2nd. Canaccord Genuity Group lowered their price objective on shares of Evolent Health from $16.00 to $9.00 and set a “buy” rating for the company in a research note on Friday, November 14th. Citigroup cut their target price on shares of Evolent Health from $9.50 to $6.00 and set a “buy” rating on the stock in a research note on Friday, January 9th. Finally, BMO Capital Markets initiated coverage on shares of Evolent Health in a report on Thursday, November 13th. They issued an “outperform” rating and a $7.00 price target for the company. Thirteen research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $9.77.

Evolent Health Stock Performance

The company has a debt-to-equity ratio of 1.25, a current ratio of 1.33 and a quick ratio of 1.33. The company has a fifty day moving average price of $3.69 and a 200 day moving average price of $6.16. The stock has a market cap of $310.81 million, a P/E ratio of -1.76 and a beta of 0.27.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the business. Vanguard Group Inc. increased its position in shares of Evolent Health by 0.4% during the third quarter. Vanguard Group Inc. now owns 10,966,830 shares of the technology company’s stock worth $92,779,000 after acquiring an additional 45,299 shares in the last quarter. Durable Capital Partners LP acquired a new position in Evolent Health during the 2nd quarter valued at about $72,326,000. Eventide Asset Management LLC increased its holdings in Evolent Health by 54.0% during the 3rd quarter. Eventide Asset Management LLC now owns 6,292,511 shares of the technology company’s stock worth $53,246,000 after purchasing an additional 2,205,659 shares in the last quarter. Engaged Capital LLC increased its holdings in Evolent Health by 13.0% during the 2nd quarter. Engaged Capital LLC now owns 5,854,468 shares of the technology company’s stock worth $65,921,000 after purchasing an additional 675,000 shares in the last quarter. Finally, Rubicon Founders LLC purchased a new stake in shares of Evolent Health in the third quarter worth approximately $49,204,000.

Evolent Health Company Profile

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.