A company insider recently sold 110,000 shares of Evolent Health Inc. [EVH]. Should You Sale?

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The buying and selling of stock by a company’s insider give investors a sense that the stock will rise or fall in the future. Evolent Health Inc. shares valued at $3,225,361 were sold by WILLIAMS FRANK J on Nov 01. At $29.32 per share, WILLIAMS FRANK J sold 110,000 shares. The insider’s holdings dropped to 626,479 shares worth approximately $16.17 million following the completion of this transaction.


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Also, Scott Cheryl sold 3,100 shares, netting a total of over 113,956 in proceeds. Following the sale of shares at $36.76 each, the insider now holds 51,104 shares.

Before that, WILLIAMS FRANK J had sold 50,000 shares from its account. In a trade valued at $1,860,500, the Director traded Evolent Health Inc. shares for $37.21 each. Upon closing the transaction, the insider’s holdings decreased to 50,000 shares, worth approximately $19.42 million.

As published in their initiating research note from Truist on November 01, 2022, Evolent Health Inc. [EVH] has been a Hold and the price target has been revised to $33. This represents a 21.79% premium over Thursday’s closing price. Analysts at RBC Capital Mkts started covering the stock with ‘”an Outperform”‘ outlook in a report released in late July. As of March 30, 2022, Guggenheim has initiated its “Buy” rating for EVH. Earlier on November 18, 2021, JP Morgan upgraded its rating. Their new recommendation was “an Overweight” for EVH stock which previously was a “a Neutral”.

Analyzing EVH Stock Performance

On Thursday, Evolent Health Inc. [NYSE: EVH] plunged -9.38% to $25.81. The stock’s lowest price that day was $25.24, but it reached a high of $29.06 in the same session. During the last five days, there has been a drop of approximately -17.46%. Over the course of the year, Evolent Health Inc. shares have dropped approximately -6.72%. Shares of the company reached a 52-week high of $39.78 on 09/15/22 and a 52-week low of $21.36 on 01/24/22. A 50-day SMA is recorded $34.79, while a 200-day SMA reached $30.79. Nevertheless, trading volume fell to 3.27 million shares from 2.15 million shares the previous day.

Support And Resistance Levels for Evolent Health Inc. (EVH)

According to the 24-hour chart, there is a support level at 24.35, which, if violated, would cause prices to drop to 22.88. In the upper region, resistance lies at 28.17. The next price resistance is at 30.52. RSI (Relative Strength Index) is 24.75 on the 14-day chart, showing oversold technical sentiment. Moving Average Convergence Divergence (MACD) is at -3.16, which suggests the price will decrease in the coming days. Percent R is at 92.86%, indicating bearish price movement. Stochastics %K at buying indicates that the stock is to be held.

Is Evolent Health Inc. subject to short interest?

Stocks of Evolent Health Inc. saw a sharp rise in short interest on Jul 14, 2022 jumping by 0.3 million shares to 8.42 million. Data from Yahoo Finance shows that the short interest on Jun 14, 2022 was 8.12 million shares. A jump of 3.56% in short interest reflects a positive sentiment towards the stock. Despite the fact that short shares comprise just 7.79 of the overall float, the days-to-cover ratio (short ratio) jumped to 7.79.

Which companies own the most shares of Evolent Health Inc. (EVH)?

According to The Vanguard Group, Inc. filings, the company currently owns 7,650,868 shares, which is about 8.35% of the total EVH shares outstanding. The investor’s shares have appreciated by 142,695 from its previous 13-F filing of 7508173.0 shares. BlackRock Fund Advisors reduced a -0.80% interest valued at $182.1 million while Fidelity Management & Research Co purchased a 499,219 stake. A total of -20,458 shares of Evolent Health Inc. were bought by JPMorgan Investment Management, I during the quarter, and -1,345,228 were sold by Granahan Investment Management, L. In its current portfolio, Engaged Capital LLC holds 2,810,978 shares valued at $101.0 million.

In terms of Evolent Health Inc. share price expectations, FactSet research, analysts set an average price target of $43.75 in the next 12 months, up nearly 54.49% from the previous closing price of $28.48. Analysts anticipate Evolent Health Inc. stock to reach $52.00 by 2022, with the lowest price target being $33.00. In spite of this, 9 analysts ranked Evolent Health Inc. stock as a Buy at the end of 2022. On April 29, 2021, JP Morgan assigned a price target of “a Neutral” to the stock and resumed coverage with a $23.

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