Babylon (NYSE:BBLN) Upgraded to Hold at Zacks Investment Research

Babylon (NYSE:BBLNGet Rating) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a note issued to investors on Tuesday, Zacks.com reports.

According to Zacks, “Babylon Holdings Limited is a digital healthcare company. Babylon Holdings Limited, formerly known as Alkuri Global Acquisition Corp., is based in PALO ALTO, Calif. “

Other equities research analysts have also issued reports about the stock. Canaccord Genuity Group lowered their price target on shares of Babylon from $14.00 to $8.00 and set a “buy” rating on the stock in a research note on Friday, March 11th. Deutsche Bank Aktiengesellschaft started coverage on shares of Babylon in a research note on Wednesday, January 12th. They issued a “buy” rating and a $9.00 price target on the stock. Finally, BTIG Research lowered their price objective on shares of Babylon from $15.00 to $10.00 in a research note on Monday. Three investment analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. According to MarketBeat, Babylon has a consensus rating of “Buy” and an average price target of $9.67.

BBLN stock traded down $0.22 during midday trading on Tuesday, hitting $1.52. The company’s stock had a trading volume of 2,160,954 shares, compared to its average volume of 365,202. The company has a current ratio of 2.37, a quick ratio of 2.37 and a debt-to-equity ratio of 1.02. Babylon has a twelve month low of $1.51 and a twelve month high of $16.00. The business has a fifty day moving average price of $4.20.

Several hedge funds have recently made changes to their positions in BBLN. Wells Fargo & Company MN bought a new stake in shares of Babylon during the 4th quarter worth about $58,000. Mirabella Financial Services LLP bought a new stake in shares of Babylon during the 4th quarter worth about $63,000. JPMorgan Chase & Co. bought a new stake in shares of Babylon during the 4th quarter worth about $63,000. Goldman Sachs Group Inc. bought a new stake in shares of Babylon during the 4th quarter worth about $66,000. Finally, Penserra Capital Management LLC bought a new stake in shares of Babylon during the 4th quarter worth about $137,000. 62.45% of the stock is owned by institutional investors and hedge funds.

Babylon Company Profile (Get Rating)

Babylon Holdings Limited operates as a digital healthcare company. The company provides assistance to navigate the health system by connecting patients digitally to the clinicians. It operates in the United Kingdom, the United States, the Asia Pacific, Canada, and internationally. The company was founded in 2013 and is headquartered in London, the United Kingdom.

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