Evolent Health Inc. (EVH) may enjoy gains as insiders got busy in the recent days


In a filing, Evolent Health Inc. revealed its Director WILLIAMS FRANK J unloaded Company’s shares for reported $3.54 million on Feb 01. In the deal valued at $32.16 per share,110,000 shares were sold. As a result of this transaction, WILLIAMS FRANK J now holds 626,479 shares worth roughly $ 21.87 million.

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Then, WILLIAMS FRANK J sold 110,000 shares, generating $2,986,690 in total proceeds. Upon selling the shares at $27.15, the Director now owns 626,479 shares.

Before that, WILLIAMS FRANK J sold 110,000 shares. Evolent Health Inc. shares valued at $3,112,620 were divested by the Director at a price of $28.30 per share. As a result of the transaction, WILLIAMS FRANK J now holds 626,479 shares, worth roughly $21.87 million.

Truist initiated its Evolent Health Inc. [EVH] rating to a Hold in a research note published on Friday, November 01, 2022; the price target was $33. PT values the company’s stock at a premium of -5.79 to its Friday closing price. A number of analysts have revised their coverage, including RBC Capital Mkts’s analysts, who began to cover the stock in late July with a ‘”an Outperform”‘ rating. Guggenheim began covering EVH with “Buy” recommendation on March 30, 2022. JP Morgan revised its rating on November 18, 2021. It rated EVH as “an Overweight” which previously was an “a Neutral”.

Price Performance Review of EVH

On Friday, Evolent Health Inc. [NYSE:EVH] saw its stock fall -0.03% to $34.91. On the same session, the stock had its day’s lowest price of $34.27, but rose to a high of $35.43. Over the last five days, the stock has gained 5.21%. Evolent Health Inc. shares have risen nearly 24.32% since the year began. Nevertheless, the stocks have risen 57.18% over the past one year. While a 52-week high of $39.78 was reached on 02/23/23, a 52-week low of $21.83 was recorded on 01/05/23. SMA at 50 days reached $30.17, while 200 days put it at $31.29. A total of 1.42 million shares were traded, compared to the trading of 2.97 million shares in the previous session.

Levels Of Support And Resistance For EVH Stock

The 24-hour chart illustrates a support level at 34.31, which if violated will result in even more drops to 33.71. On the upside, there is a resistance level at 35.47. A further resistance level may holdings at 36.03. The Relative Strength Index (RSI) on the 14-day chart is 66.56, which indicates neutral technical sentiment, while the Moving Average Convergence Divergence (MACD) stands at 1.10, which suggests price will go up in the next trading period. Percent R suggests that price movement has been bullish at 16.64%. Stochastics %K at 65.47% indicates the stock is a holding.

How much short interest is there in Evolent Health Inc.?

A steep rise in short interest was recorded in Evolent Health Inc. stocks on Jan 30, 2023, dropping by -1.01 million shares to a total of 6.42 million shares. Yahoo Finance data shows the prior-month short interest on Dec 29, 2022 was 7.43 million shares. There was a decline of -15.73%, which implies that there is a negative sentiment for the stock. In spite of short shares comprising just 6.83% of the overall stock float, the days-to-cover ratio (short ratio) fell to 5.59.

Evolent Health Inc. [EVH] – Who Are The Largest Shareholders?

In filings from The Vanguard Group, Inc., it is revealed that the company now owns 9,564,739 shares, or roughly 9.45% of the outstanding EVH shares. In other words, the investor’s shares have risen by 1,123,751 from its previous 13-F filing of 8440988.0. Additionally, UMPC Health Plan, Inc. decreased -8.18% of its stake after which the total value it holdings stand at $190,350,637, while BlackRock Fund Advisors added 13.95% of its stake to hold $186.08 million in the firm. Over the last quarter, Rock Springs Capital Management L purchased 541,000 shares of Evolent Health Inc., while Fidelity Management & Research Co bought -80,882 shares. At present, Point72 Asset Management LP is holding 3,270,676 shares valued at $105.38 million. Granahan Investment Management, L owned 3,176,941 shares of the company at the time of its most recent 13F filing, worth $102.36 million.

According to FactSet, Evolent Health Inc.’s share price will average $47.00 in the next year, based on opinions of analysts polled by the firm. This is up nearly 31.73 percent from its previous closing price of $34.92. Analysts expect Evolent Health Inc. stock to reach the higher price of $63.00, while the lowest price estimate is $34.00. However, 9 analysts have rated EVH stock as a Buy in their predictions for 2023.


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