Castlight Health Inc (NYSE:CSLT) shares were up 6.5% during trading on Wednesday . The stock traded as high as $1.64 and last traded at $1.63, approximately 411,940 shares traded hands during trading. A decline of 20% from the average daily volume of 513,300 shares. The stock had previously closed at $1.53.

A number of research firms have recently weighed in on CSLT. ValuEngine raised Castlight Health from a “sell” rating to a “hold” rating in a research report on Thursday, August 1st. Cantor Fitzgerald downgraded Castlight Health from an “overweight” rating to a “neutral” rating in a research note on Tuesday, July 30th. Zacks Investment Research lowered Castlight Health from a “hold” rating to a “sell” rating in a research report on Monday, August 5th. Finally, TheStreet cut Castlight Health from a “c-” rating to a “d+” rating in a research note on Monday, August 19th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and two have given a buy rating to the stock. Castlight Health currently has a consensus rating of “Hold” and an average price target of $4.50.

The business’s 50 day moving average is $1.68 and its 200 day moving average is $3.01. The company has a market capitalization of $216.42 million, a price-to-earnings ratio of -10.19 and a beta of 1.50. The company has a debt-to-equity ratio of 0.08, a quick ratio of 1.88 and a current ratio of 1.88.

Castlight Health (NYSE:CSLT) last released its earnings results on Tuesday, July 30th. The software maker reported ($0.02) earnings per share for the quarter, missing the consensus estimate of ($0.01) by ($0.01). Castlight Health had a negative return on equity of 9.28% and a negative net margin of 19.68%. The company had revenue of $35.90 million for the quarter, compared to analysts’ expectations of $36.95 million. During the same period in the prior year, the firm posted ($0.10) EPS. The firm’s revenue for the quarter was down 5.0% on a year-over-year basis. Sell-side analysts predict that Castlight Health Inc will post -0.2 EPS for the current year.

In other news, CFO Mangini Siobhan Nolan sold 21,617 shares of the firm’s stock in a transaction dated Monday, August 19th. The stock was sold at an average price of $1.41, for a total value of $30,479.97. Following the completion of the transaction, the chief financial officer now directly owns 281,610 shares in the company, valued at $397,070.10. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, EVP Maeve O’meara sold 28,171 shares of Castlight Health stock in a transaction dated Monday, August 19th. The stock was sold at an average price of $1.41, for a total value of $39,721.11. Following the sale, the executive vice president now directly owns 322,775 shares of the company’s stock, valued at approximately $455,112.75. The disclosure for this sale can be found here. Insiders have sold 60,858 shares of company stock valued at $90,961 over the last quarter. Insiders own 17.37% of the company’s stock.

Hedge funds and other institutional investors have recently modified their holdings of the stock. Grantham Mayo Van Otterloo & Co. LLC purchased a new position in shares of Castlight Health during the 2nd quarter valued at about $35,000. HighTower Advisors LLC acquired a new stake in Castlight Health during the second quarter worth about $37,000. First Quadrant L P CA acquired a new stake in Castlight Health during the second quarter worth about $62,000. Algert Global LLC acquired a new stake in Castlight Health during the second quarter worth about $64,000. Finally, BNP Paribas Arbitrage SA raised its position in Castlight Health by 847.1% during the first quarter. BNP Paribas Arbitrage SA now owns 18,174 shares of the software maker’s stock valued at $68,000 after acquiring an additional 16,255 shares in the last quarter. Hedge funds and other institutional investors own 56.01% of the company’s stock.

About Castlight Health (NYSE:CSLT)

Castlight Health, Inc provides a software-as-a-service platform used for health benefits navigation for employees in the United States. Its platform matches employees to the resources their employers make available to them; managing a condition; and assists them to manage their benefits. The company also offers implementation, user and customer support, and marketplace services.

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