Evolent Health (NYSE:EVH) Reaches New 52-Week Low – Should You Sell?

Evolent Health, Inc. (NYSE:EVH)’s stock price hit a new 52-week low during trading on Thursday . The stock traded as low as $9.93 and last traded at $10.01, with a volume of 6957802 shares trading hands. The stock had previously closed at $11.18.

Analyst Upgrades and Downgrades

A number of brokerages have weighed in on EVH. Royal Bank of Canada cut their target price on shares of Evolent Health from $20.00 to $17.00 and set an “outperform” rating on the stock in a research report on Tuesday. Needham & Company LLC started coverage on Evolent Health in a research report on Friday, January 10th. They set a “buy” rating and a $15.00 price objective on the stock. Truist Financial lowered their target price on Evolent Health from $24.00 to $20.00 and set a “buy” rating for the company in a report on Monday. Oppenheimer reduced their price target on Evolent Health from $34.00 to $28.00 and set an “outperform” rating on the stock in a report on Monday, November 18th. Finally, JPMorgan Chase & Co. cut their price target on shares of Evolent Health from $45.00 to $15.00 and set an “overweight” rating on the stock in a report on Friday, November 22nd. One analyst has rated the stock with a hold rating, ten have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Buy” and an average price target of $22.58.

Evolent Health Stock Down 10.5 %

The company has a market cap of $1.17 billion, a price-to-earnings ratio of -11.00 and a beta of 1.45. The stock’s 50-day moving average is $12.44 and its 200-day moving average is $20.92. The company has a current ratio of 1.04, a quick ratio of 1.04 and a debt-to-equity ratio of 0.58.

Hedge Funds Weigh In On Evolent Health

A number of institutional investors and hedge funds have recently made changes to their positions in EVH. Royce & Associates LP bought a new stake in shares of Evolent Health during the third quarter worth about $7,070,000. Foundry Partners LLC bought a new position in shares of Evolent Health in the third quarter valued at approximately $10,042,000. Harbor Capital Advisors Inc. boosted its position in shares of Evolent Health by 140.0% during the third quarter. Harbor Capital Advisors Inc. now owns 422,421 shares of the technology company’s stock valued at $11,946,000 after buying an additional 246,400 shares during the last quarter. Salem Investment Counselors Inc. raised its position in Evolent Health by 53.0% in the 4th quarter. Salem Investment Counselors Inc. now owns 350,155 shares of the technology company’s stock valued at $3,939,000 after buying an additional 121,369 shares during the last quarter. Finally, Nordea Investment Management AB lifted its stake in Evolent Health by 7.0% during the 4th quarter. Nordea Investment Management AB now owns 130,453 shares of the technology company’s stock valued at $1,469,000 after acquiring an additional 8,552 shares in the last quarter.

Evolent Health Company Profile

Evolent Health, Inc, through its subsidiary, Evolent Health LLC, offers specialty care management services in oncology, cardiology, and musculoskeletal markets in the United States. The company provides platform for health plan administration and value-based business infrastructure. It offers administrative services, such as health plan services, pharmacy benefits management, risk management, analytics and reporting, and leadership and management; and Identifi, a proprietary technology system that aggregates and analyzes data, manages care workflows, and engages patients.