Castlight Health, inc. (CSLT) Cut to “Sell” at BidaskClub
BidaskClub lowered shares of Castlight Health, inc. (NYSE:CSLT) from a hold rating to a sell rating in a research report sent to investors on Sunday, July 30th.
Several other analysts have also recently commented on the company. Zacks Investment Research upgraded Castlight Health, inc. from a sell rating to a hold rating in a report on Tuesday, June 27th. Chardan Capital assumed coverage on Castlight Health, inc. in a report on Tuesday, June 6th. They issued a buy rating and a $4.50 price target for the company. ValuEngine cut Castlight Health, inc. from a hold rating to a sell rating in a report on Friday, May 19th. Morgan Stanley lowered Castlight Health, inc. from an equal weight rating to an underweight rating and reduced their price objective for the company from $4.00 to $3.75 in a research note on Friday, May 12th. Finally, Dougherty & Co began coverage on Castlight Health, inc. in a research note on Wednesday, May 10th. They issued a buy rating and a $5.50 price objective on the stock. Three investment analysts have rated the stock with a sell rating, five have given a hold rating and two have given a buy rating to the company’s stock. The stock presently has an average rating of Hold and a consensus target price of $4.57.
Castlight Health, inc. (CSLT) traded up 2.60% on Friday, reaching $3.95. 309,826 shares of the company’s stock were exchanged. The company’s market capitalization is $520.16 million. The company has a 50 day moving average price of $4.27 and a 200-day moving average price of $3.79. Castlight Health, inc. has a 1-year low of $3.05 and a 1-year high of $5.50.
Castlight Health, inc. (NYSE:CSLT) last posted its quarterly earnings results on Wednesday, August 2nd. The software maker reported ($0.07) EPS for the quarter, beating the consensus estimate of ($0.09) by $0.02. The company had revenue of $32.10 million during the quarter, compared to analysts’ expectations of $31.14 million. Castlight Health, inc. had a negative return on equity of 36.30% and a negative net margin of 42.54%. The firm’s revenue was up 36.0% on a year-over-year basis. During the same quarter in the previous year, the business earned ($0.11) EPS. On average, equities research analysts anticipate that Castlight Health, inc. will post ($0.25) earnings per share for the current year.
In related news, insider Giovanni M. Colella sold 11,456 shares of the business’s stock in a transaction that occurred on Wednesday, May 17th. The stock was sold at an average price of $3.75, for a total transaction of $42,960.00. Following the transaction, the insider now directly owns 88,094 shares of the company’s stock, valued at approximately $330,352.50. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CAO Priya Jain sold 7,858 shares of the business’s stock in a transaction that occurred on Wednesday, May 17th. The stock was sold at an average price of $3.65, for a total value of $28,681.70. Following the transaction, the chief accounting officer now directly owns 20,000 shares in the company, valued at $73,000. The disclosure for this sale can be found here. Insiders sold a total of 60,051 shares of company stock worth $233,723 over the last ninety days. Corporate insiders own 37.43% of the company’s stock.
A number of institutional investors have recently added to or reduced their stakes in the company. Oxford Asset Management bought a new position in Castlight Health, inc. during the first quarter valued at approximately $102,000. Stifel Financial Corp raised its position in Castlight Health, inc. by 4.3% in the first quarter. Stifel Financial Corp now owns 36,500 shares of the software maker’s stock valued at $133,000 after buying an additional 1,500 shares during the period. Nationwide Fund Advisors raised its position in Castlight Health, inc. by 49.5% in the second quarter. Nationwide Fund Advisors now owns 36,418 shares of the software maker’s stock valued at $151,000 after buying an additional 12,061 shares during the period. FNY Partners Fund LP bought a new position in Castlight Health, inc. during the first quarter valued at approximately $164,000. Finally, Edge Wealth Management LLC bought a new position in Castlight Health, inc. during the first quarter valued at approximately $172,000. 39.10% of the stock is currently owned by hedge funds and other institutional investors.
About Castlight Health, inc.
Castlight Health, Inc offers a health benefits platform that engages employees to make healthcare decisions, and enables employers to communicate and measure their benefit programs. The Company operates through cloud-based products segment. Its technology offering aggregates data and applies analytics to make healthcare data transparent.
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