Evolent Health (NYSE:EVH) Share Price Crosses Below Fifty Day Moving Average – Should You Sell?

Shares of Evolent Health, Inc (NYSE:EVH) crossed below its 50-day moving average during trading on Monday . The stock has a 50-day moving average of $3.69 and traded as low as $2.62. Evolent Health shares last traded at $2.7850, with a volume of 2,872,468 shares traded.

Analyst Ratings Changes

A number of analysts have weighed in on EVH shares. Oppenheimer cut their target price on shares of Evolent Health from $18.00 to $12.00 and set an “outperform” rating on the stock in a research report on Wednesday, November 12th. BTIG Research cut their price objective on Evolent Health from $16.00 to $10.00 and set a “buy” rating on the stock in a report on Monday, February 2nd. Weiss Ratings restated a “sell (e+)” rating on shares of Evolent Health in a research report on Monday, December 29th. Truist Financial lowered their target price on Evolent Health from $16.00 to $10.00 and set a “buy” rating for the company in a report on Monday, November 10th. Finally, Piper Sandler set a $6.00 price target on Evolent Health in a research note on Tuesday, December 2nd. Thirteen investment analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, Evolent Health presently has an average rating of “Moderate Buy” and an average target price of $9.77.

Evolent Health Price Performance

The stock has a market cap of $310.81 million, a P/E ratio of -1.76 and a beta of 0.27. The business has a 50-day simple moving average of $3.69 and a 200 day simple moving average of $6.16. The company has a current ratio of 1.33, a quick ratio of 1.33 and a debt-to-equity ratio of 1.25.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of EVH. Nisa Investment Advisors LLC increased its position in shares of Evolent Health by 88.0% during the second quarter. Nisa Investment Advisors LLC now owns 2,551 shares of the technology company’s stock worth $29,000 after buying an additional 1,194 shares during the period. CIBC Private Wealth Group LLC lifted its holdings in Evolent Health by 4,000.0% in the third quarter. CIBC Private Wealth Group LLC now owns 4,100 shares of the technology company’s stock valued at $35,000 after buying an additional 4,000 shares during the period. Strs Ohio bought a new stake in Evolent Health during the first quarter valued at $47,000. Vise Technologies Inc. acquired a new stake in Evolent Health during the 4th quarter worth about $50,000. Finally, Pilgrim Partners Asia Pte Ltd acquired a new stake in Evolent Health during the 3rd quarter worth about $51,000.

Evolent Health Company Profile

Evolent Health, Inc is a U.S.-based healthcare technology and services company that partners with health systems, physician organizations and health plans to design, build and operate value-based care programs. Headquartered in Arlington, Virginia, the company was founded in 2011 as a joint venture between TPG and the University of Pittsburgh Medical Center (UPMC). Evolent Health aims to help its clients transition from fee-for-service payment models to value-based care arrangements by leveraging its proprietary technology platforms and clinical expertise.

The company’s core offerings include care management solutions, population health analytics and clinical advisory services.