Cue Health (NASDAQ:HLTH) Lifted to “Hold” at Zacks Investment Research

Cue Health (NASDAQ:HLTHGet Rating) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a research report issued to clients and investors on Wednesday, Zacks.com reports.

According to Zacks, “Cue Health Inc. is a health technology company. It offers individuals, enterprises, government agencies and healthcare provides access to lab-quality diagnostic testing at home, at work or at the point-of-care, all in a device. Cue Health Inc. is headquartered in San Diego. “

HLTH stock traded up $0.09 during mid-day trading on Wednesday, reaching $5.25. 602,321 shares of the company’s stock were exchanged, compared to its average volume of 712,811. The stock’s 50 day moving average is $6.35 and its 200 day moving average is $8.94. Cue Health has a 12-month low of $3.70 and a 12-month high of $22.55.

Cue Health (NASDAQ:HLTHGet Rating) last released its earnings results on Tuesday, March 29th. The company reported $0.22 earnings per share for the quarter, beating the consensus estimate of $0.11 by $0.11. The firm had revenue of $192.51 million during the quarter. On average, research analysts predict that Cue Health will post -1.23 earnings per share for the current fiscal year.

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Decheng Capital Management III Cayman LLC purchased a new stake in Cue Health during the 1st quarter worth about $57,927,000. BlackRock Inc. raised its stake in Cue Health by 9.2% during the 1st quarter. BlackRock Inc. now owns 680,158 shares of the company’s stock valued at $4,386,000 after acquiring an additional 57,458 shares during the last quarter. State Street Corp raised its stake in Cue Health by 44.4% during the 1st quarter. State Street Corp now owns 221,996 shares of the company’s stock valued at $1,432,000 after acquiring an additional 68,224 shares during the last quarter. Vanguard Group Inc. increased its position in Cue Health by 1.1% during the 1st quarter. Vanguard Group Inc. now owns 187,374 shares of the company’s stock worth $1,209,000 after purchasing an additional 2,117 shares during the period. Finally, Ergoteles LLC acquired a new position in Cue Health during the 1st quarter worth approximately $363,000. 26.42% of the stock is owned by hedge funds and other institutional investors.

Cue Health Company Profile (Get Rating)

Cue Health Inc, a healthcare technology company, designs and develops diagnostic platform for diagnostic tests for individuals, enterprises, healthcare providers and payors, and public health agencies. The company offers Cue Integrated Care platform comprising hardware and software components, such as Cue Health Monitoring System consisting of Cue Reader, a portable and reusable reader, Cue Cartridge, a single-use test cartridge, and Cue Wand, a sample collection wand; Cue Data and Innovation Layer, a solution with cloud-based data and analytics capability; Cue Virtual Care Delivery Apps, which include Cue Health App and Cue Enterprise Dashboard; and Cue Ecosystem Integrations and Apps, a solution that allows integrations with third-party applications and sensors.

Further Reading

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