Evolent Health (NYSE:EVH) Sees Unusually-High Trading Volume – Should You Buy?

Evolent Health, Inc. (NYSE:EVH) saw an uptick in trading volume on Tuesday . 1,081,682 shares were traded during trading, a decline of 24% from the previous session’s volume of 1,421,266 shares.The stock last traded at $11.83 and had previously closed at $12.39.

Wall Street Analyst Weigh In

EVH has been the topic of several recent analyst reports. Oppenheimer reduced their target price on Evolent Health from $34.00 to $28.00 and set an “outperform” rating on the stock in a research report on Monday, November 18th. KeyCorp initiated coverage on shares of Evolent Health in a research report on Friday, October 11th. They issued an “overweight” rating and a $35.00 price objective for the company. Truist Financial dropped their target price on shares of Evolent Health from $24.00 to $20.00 and set a “buy” rating on the stock in a research report on Monday. JPMorgan Chase & Co. decreased their price target on shares of Evolent Health from $45.00 to $15.00 and set an “overweight” rating for the company in a report on Friday, November 22nd. Finally, Needham & Company LLC began coverage on shares of Evolent Health in a report on Friday. They set a “buy” rating and a $15.00 price objective on the stock. One investment analyst has rated the stock with a hold rating, ten have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, Evolent Health currently has a consensus rating of “Buy” and a consensus price target of $22.58.

Evolent Health Stock Down 9.3 %

The business has a 50 day moving average price of $12.69 and a 200 day moving average price of $20.97. The company has a quick ratio of 1.04, a current ratio of 1.04 and a debt-to-equity ratio of 0.58. The stock has a market cap of $1.31 billion, a PE ratio of -12.35 and a beta of 1.45.

Institutional Trading of Evolent Health

A number of hedge funds have recently added to or reduced their stakes in the company. Moody National Bank Trust Division raised its stake in shares of Evolent Health by 4.4% during the 4th quarter. Moody National Bank Trust Division now owns 176,653 shares of the technology company’s stock worth $1,987,000 after buying an additional 7,450 shares during the period. Salem Investment Counselors Inc. raised its position in Evolent Health by 53.0% during the fourth quarter. Salem Investment Counselors Inc. now owns 350,155 shares of the technology company’s stock worth $3,939,000 after acquiring an additional 121,369 shares during the period. Harbor Capital Advisors Inc. raised its position in Evolent Health by 90.1% during the fourth quarter. Harbor Capital Advisors Inc. now owns 803,211 shares of the technology company’s stock worth $9,036,000 after acquiring an additional 380,790 shares during the period. Nordea Investment Management AB lifted its holdings in Evolent Health by 7.0% during the fourth quarter. Nordea Investment Management AB now owns 130,453 shares of the technology company’s stock valued at $1,469,000 after purchasing an additional 8,552 shares in the last quarter. Finally, Principal Financial Group Inc. grew its position in shares of Evolent Health by 268.0% in the third quarter. Principal Financial Group Inc. now owns 57,382 shares of the technology company’s stock valued at $1,623,000 after purchasing an additional 41,788 shares during the period.

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.