Castlight Health (NYSE:CSLT) Shares Gap Down to $1.61

Castlight Health Inc (NYSE:CSLT) gapped down prior to trading on Thursday . The stock had previously closed at $1.05, but opened at $1.61. Castlight Health shares last traded at $1.63, with a volume of 21,391 shares.

A number of research firms have recently commented on CSLT. Zacks Investment Research cut shares of Castlight Health from a “buy” rating to a “hold” rating in a report on Wednesday, July 3rd. Cantor Fitzgerald lowered shares of Castlight Health from an “overweight” rating to a “neutral” rating in a research note on Tuesday. Finally, ValuEngine raised shares of Castlight Health from a “sell” rating to a “hold” rating in a research note on Thursday. Three equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the company. Castlight Health presently has an average rating of “Hold” and an average target price of $4.50.

The business has a 50 day moving average price of $2.96. The firm has a market capitalization of $231.78 million, a P/E ratio of -10.25 and a beta of 1.47. The company has a debt-to-equity ratio of 0.09, a current ratio of 1.87 and a quick ratio of 1.87.

Castlight Health (NYSE:CSLT) last released its quarterly earnings data on Tuesday, July 30th. The software maker reported ($0.02) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($0.01) by ($0.01). Castlight Health had a negative return on equity of 11.47% and a negative net margin of 23.04%. The business had revenue of $35.90 million during the quarter, compared to analysts’ expectations of $36.95 million. During the same period last year, the company earned ($0.10) earnings per share. The firm’s revenue was down 5.0% compared to the same quarter last year. Research analysts anticipate that Castlight Health Inc will post -0.11 EPS for the current fiscal year.

In other Castlight Health news, EVP Neeraj Gupta sold 8,738 shares of the stock in a transaction dated Thursday, May 16th. The shares were sold at an average price of $3.61, for a total transaction of $31,544.18. Following the completion of the sale, the executive vice president now directly owns 275,255 shares of the company’s stock, valued at $993,670.55. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Over the last three months, insiders have sold 22,538 shares of company stock valued at $74,521. Insiders own 17.37% of the company’s stock.

Several hedge funds have recently added to or reduced their stakes in the business. Marshall Wace LLP purchased a new position in shares of Castlight Health in the 1st quarter valued at approximately $1,124,000. Virtu Financial LLC acquired a new stake in shares of Castlight Health during the 1st quarter worth approximately $77,000. Squarepoint Ops LLC acquired a new stake in shares of Castlight Health during the 4th quarter worth approximately $228,000. Geode Capital Management LLC grew its stake in shares of Castlight Health by 11.6% during the 4th quarter. Geode Capital Management LLC now owns 827,870 shares of the software maker’s stock worth $1,795,000 after purchasing an additional 85,867 shares during the period. Finally, Edge Wealth Management LLC grew its stake in shares of Castlight Health by 14.0% during the 2nd quarter. Edge Wealth Management LLC now owns 138,625 shares of the software maker’s stock worth $448,000 after purchasing an additional 17,000 shares during the period. 53.39% of the stock is owned by institutional investors and hedge funds.

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.

Featured Article: What is systematic risk?

Receive News & Ratings for Castlight Health Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Castlight Health and related companies with MarketBeat.com's FREE daily email newsletter.