Cue Health (NASDAQ:HLTH) Stock Price Down 3%

Shares of Cue Health Inc. (NASDAQ:HLTHGet Rating) were down 3% during mid-day trading on Friday . The company traded as low as $3.55 and last traded at $3.57. Approximately 3,604 shares changed hands during trading, a decline of 99% from the average daily volume of 414,008 shares. The stock had previously closed at $3.68.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently issued reports on HLTH shares. BTIG Research reduced their price target on Cue Health to $9.00 in a research report on Monday, August 15th. Cowen reduced their price target on Cue Health to $9.00 in a research report on Monday, August 15th. Finally, Morgan Stanley cut their target price on Cue Health from $10.00 to $8.00 and set an “equal weight” rating on the stock in a research report on Thursday, August 11th.

Cue Health Trading Up 1.1 %

The firm has a 50-day moving average of $3.63 and a 200-day moving average of $5.32. The stock has a market capitalization of $551.12 million and a price-to-earnings ratio of -12.40.

Cue Health (NASDAQ:HLTHGet Rating) last released its earnings results on Wednesday, August 10th. The company reported ($0.37) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.50) by $0.13. Cue Health had a positive return on equity of 5.50% and a negative net margin of 6.24%. On average, equities research analysts anticipate that Cue Health Inc. will post -1.46 EPS for the current year.

Insider Buying and Selling at Cue Health

In other Cue Health news, insider Clint Sever sold 26,664 shares of the company’s stock in a transaction on Thursday, July 21st. The shares were sold at an average price of $3.33, for a total value of $88,791.12. Following the sale, the insider now directly owns 3,986,188 shares of the company’s stock, valued at $13,274,006.04. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Over the last three months, insiders have sold 106,656 shares of company stock valued at $392,494. 29.40% of the stock is owned by insiders.

Institutional Investors Weigh In On Cue Health

Hedge funds have recently added to or reduced their stakes in the business. FFT Wealth Management LLC purchased a new stake in Cue Health in the first quarter valued at $264,000. Decheng Capital Management III Cayman LLC purchased a new stake in shares of Cue Health during the 1st quarter worth about $57,927,000. Keebeck Alpha LP purchased a new stake in shares of Cue Health during the 1st quarter worth about $89,000. Front Barnett Associates LLC purchased a new stake in shares of Cue Health during the 1st quarter worth about $71,000. Finally, Vantage Financial Partners LLC boosted its stake in shares of Cue Health by 100.0% during the 2nd quarter. Vantage Financial Partners LLC now owns 40,000 shares of the company’s stock worth $128,000 after acquiring an additional 20,000 shares in the last quarter. 37.87% of the stock is owned by hedge funds and other institutional investors.

About Cue Health

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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.

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