Shares of Castlight Health Inc (NYSE:CSLT) were up 0% during mid-day trading on Friday . The company traded as high as $4.35 and last traded at $4.30. Approximately 639,695 shares were traded during mid-day trading, an increase of 116% from the average daily volume of 296,711 shares. The stock had previously closed at $4.30.
A number of research firms have weighed in on CSLT. Canaccord Genuity upgraded Castlight Health from a “hold” rating to a “buy” rating in a report on Tuesday, October 10th. Zacks Investment Research upgraded Castlight Health from a “hold” rating to a “buy” rating and set a $4.50 target price for the company in a report on Monday, October 30th. BidaskClub upgraded Castlight Health from a “sell” rating to a “hold” rating in a report on Thursday, October 12th. Chardan Capital lowered their target price on Castlight Health from $6.50 to $6.30 and set a “buy” rating for the company in a report on Thursday, October 26th. Finally, Cantor Fitzgerald restated a “hold” rating and set a $5.00 target price on shares of Castlight Health in a report on Wednesday, October 25th. Three research analysts have rated the stock with a sell rating, three have assigned a hold rating and three have assigned a buy rating to the stock. Castlight Health presently has a consensus rating of “Hold” and an average target price of $5.22.
The stock has a market capitalization of $575.07, a PE ratio of -9.15 and a beta of 1.66. The company has a debt-to-equity ratio of 0.03, a current ratio of 1.94 and a quick ratio of 1.94.
Castlight Health (NYSE:CSLT) last issued its quarterly earnings results on Wednesday, October 25th. The software maker reported ($0.05) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.07) by $0.02. The business had revenue of $34.60 million for the quarter, compared to the consensus estimate of $34.61 million. Castlight Health had a negative return on equity of 32.57% and a negative net margin of 45.14%. The business’s quarterly revenue was up 35.7% on a year-over-year basis. During the same period in the prior year, the firm posted ($0.05) earnings per share. sell-side analysts forecast that Castlight Health Inc will post -0.43 EPS for the current fiscal year.
In other news, CFO Mangini Siobhan Nolan sold 8,866 shares of the company’s stock in a transaction on Friday, November 17th. The stock was sold at an average price of $3.70, for a total transaction of $32,804.20. Following the transaction, the chief financial officer now directly owns 78,561 shares of the company’s stock, valued at $290,675.70. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, President Robert Derek Newell purchased 30,000 shares of Castlight Health stock in a transaction dated Friday, October 27th. The shares were acquired at an average cost of $3.95 per share, for a total transaction of $118,500.00. Following the completion of the transaction, the president now owns 128,671 shares of the company’s stock, valued at approximately $508,250.45. The disclosure for this purchase can be found here. Over the last ninety days, insiders have sold 22,778 shares of company stock worth $84,411. Insiders own 24.38% of the company’s stock.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in CSLT. Voya Investment Management LLC increased its position in shares of Castlight Health by 25.4% in the 2nd quarter. Voya Investment Management LLC now owns 26,929 shares of the software maker’s stock valued at $112,000 after acquiring an additional 5,453 shares during the period. Nationwide Fund Advisors increased its position in shares of Castlight Health by 49.5% in the 2nd quarter. Nationwide Fund Advisors now owns 36,418 shares of the software maker’s stock valued at $151,000 after acquiring an additional 12,061 shares during the period. Stifel Financial Corp increased its position in shares of Castlight Health by 12.3% in the 2nd quarter. Stifel Financial Corp now owns 41,000 shares of the software maker’s stock valued at $171,000 after acquiring an additional 4,500 shares during the period. UBS Asset Management Americas Inc. acquired a new position in shares of Castlight Health in the 2nd quarter valued at $193,000. Finally, New York State Common Retirement Fund increased its position in shares of Castlight Health by 60.5% in the 2nd quarter. New York State Common Retirement Fund now owns 49,600 shares of the software maker’s stock valued at $206,000 after acquiring an additional 18,699 shares during the period. 42.55% of the stock is currently owned by hedge funds and other institutional investors.
Castlight Health Company Profile
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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