Cue Health (NASDAQ:HLTH) Trading Down 3.5%

Cue Health Inc. (NASDAQ:HLTH)’s stock price was down 3.5% during mid-day trading on Tuesday . The company traded as low as $0.15 and last traded at $0.15. Approximately 334,295 shares changed hands during mid-day trading, a decline of 65% from the average daily volume of 945,308 shares. The stock had previously closed at $0.15.

Analysts Set New Price Targets

Separately, BTIG Research reaffirmed a “neutral” rating on shares of Cue Health in a research note on Thursday, March 14th.

Cue Health Stock Performance

The stock has a market cap of $23.05 million, a PE ratio of -0.06 and a beta of 1.23. The stock has a fifty day moving average price of $0.22 and a 200 day moving average price of $0.27.

Cue Health (NASDAQ:HLTH) last issued its earnings results on Wednesday, March 13th. The company reported ($0.32) earnings per share for the quarter, topping the consensus estimate of ($0.45) by $0.13. The business had revenue of $18.80 million during the quarter, compared to analysts’ expectations of $17.60 million. Cue Health had a negative return on equity of 67.82% and a negative net margin of 526.48%. As a group, equities analysts anticipate that Cue Health Inc. will post -1.13 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the stock. JPMorgan Chase & Co. raised its position in shares of Cue Health by 84.5% in the 1st quarter. JPMorgan Chase & Co. now owns 10,264 shares of the company’s stock worth $66,000 after acquiring an additional 4,702 shares in the last quarter. Prelude Capital Management LLC bought a new position in shares of Cue Health in the 1st quarter worth $70,000. Raymond James Financial Services Advisors Inc. bought a new position in shares of Cue Health in the 1st quarter worth $76,000. Legal & General Group Plc raised its position in shares of Cue Health by 813.8% in the 2nd quarter. Legal & General Group Plc now owns 12,355 shares of the company’s stock worth $39,000 after acquiring an additional 11,003 shares in the last quarter. Finally, Rhumbline Advisers raised its position in shares of Cue Health by 47.8% in the 1st quarter. Rhumbline Advisers now owns 14,816 shares of the company’s stock worth $96,000 after acquiring an additional 4,795 shares in the last quarter. 45.49% of the stock is owned by institutional investors.

Cue Health Company Profile

Cue Health Inc operates as a healthcare technology company. It provides the Cue Health platform that offers individuals and healthcare providers convenient and personalized access to lab-quality diagnostic tests at home and at the point-of-care, as well as on-demand telehealth consultations and treatment options for a range of health and wellness needs.