Castlight Health (NYSE:CSLT) Rating Increased to Hold at ValuEngine

Castlight Health (NYSE:CSLT) was upgraded by analysts at ValuEngine from a “sell” rating to a “hold” rating in a report released on Thursday, ValuEngine reports.

CSLT has been the topic of a number of other research reports. Zacks Investment Research cut shares of Castlight Health from a “buy” rating to a “hold” rating in a research report on Wednesday, July 3rd. Cantor Fitzgerald cut shares of Castlight Health from an “overweight” rating to a “neutral” rating in a research report on Tuesday. Three equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. The company has an average rating of “Hold” and a consensus price target of $4.50.

NYSE CSLT traded up $0.03 during trading hours on Thursday, reaching $1.64. The company had a trading volume of 1,367,997 shares, compared to its average volume of 491,722. The firm has a 50-day moving average price of $2.96. Castlight Health has a 1-year low of $1.50 and a 1-year high of $4.15. The company has a debt-to-equity ratio of 0.09, a current ratio of 1.87 and a quick ratio of 1.87. The company has a market capitalization of $231.78 million, a PE ratio of -10.25 and a beta of 1.47.

Castlight Health (NYSE:CSLT) last posted its earnings results on Tuesday, July 30th. The software maker reported ($0.02) EPS for the quarter, missing the Zacks’ consensus estimate of ($0.01) by ($0.01). Castlight Health had a negative net margin of 23.04% and a negative return on equity of 11.47%. The company had revenue of $35.90 million during the quarter, compared to analyst estimates of $36.95 million. During the same period in the previous year, the company earned ($0.10) EPS. The company’s quarterly revenue was down 5.0% compared to the same quarter last year. As a group, research analysts forecast that Castlight Health will post -0.11 EPS for the current fiscal year.

In other Castlight Health news, EVP Neeraj Gupta sold 8,738 shares of the company’s stock in a transaction dated Thursday, May 16th. The shares were sold at an average price of $3.61, for a total value of $31,544.18. Following the transaction, the executive vice president now owns 275,255 shares of the company’s stock, valued at $993,670.55. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Insiders sold 22,538 shares of company stock worth $74,521 in the last ninety days. 17.37% of the stock is currently owned by corporate insiders.

Institutional investors and hedge funds have recently modified their holdings of the company. Amalgamated Bank acquired a new stake in shares of Castlight Health during the fourth quarter worth about $25,000. BNP Paribas Arbitrage SA lifted its position in shares of Castlight Health by 847.1% during the first quarter. BNP Paribas Arbitrage SA now owns 18,174 shares of the software maker’s stock worth $68,000 after purchasing an additional 16,255 shares in the last quarter. First Quadrant L P CA acquired a new stake in shares of Castlight Health during the second quarter worth about $62,000. Virtu Financial LLC acquired a new stake in shares of Castlight Health during the first quarter worth about $77,000. Finally, Two Sigma Investments LP acquired a new stake in shares of Castlight Health during the fourth quarter worth about $51,000. 53.39% of the stock is currently owned by institutional investors and hedge funds.

Castlight Health Company Profile

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.

Further Reading: Trade Deficit

To view ValuEngine’s full report, visit ValuEngine’s official website.

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