Investors can speculate about the future of a stock by watching how its insiders buy and sell stocks. Evolent Health Inc shares valued at $3,741,475 were sold by Blackley Seth on Dec 05 ’23. At $26.54 per share, Blackley Seth sold 141,000 shares. The insider’s holdings dropped to 637,645 shares worth approximately $18.06 million following the completion of this transaction.
Also, McCarthy Daniel Joseph sold 11,000 shares, netting a total of over 330,000 in proceeds. Following the sale of shares at $30.00 each, the insider now holds 198,333 shares.
Before that, Rafferty Emily Ann had sold 7,900 shares from its account. In a trade valued at $221,595, the Chief Operating Officer traded Evolent Health Inc shares for $28.05 each. Upon closing the transaction, the insider’s holdings decreased to 7,900 shares, worth approximately $2.01 million.
As published in their initiating research note from Citigroup on April 22, 2024, Evolent Health Inc [EVH] has been a Buy and the price target has been revised to $40. Analysts at Oppenheimer started covering the stock with ‘”an Outperform”‘ outlook in a report released in early March. As of January 03, 2024, Barclays has initiated its “an Overweight” rating for EVH. Earlier on December 06, 2023, JMP Securities initiated its rating. Their recommendation was “a Mkt outperform” for EVH stock.
Analyzing EVH Stock Performance
During the last five days, there has been a drop of approximately -4.39%. Over the course of the year, Evolent Health Inc shares have dropped approximately -14.26%. Shares of the company reached a 52-week high of $35.00 on 03/04/24 and a 52-week low of $28.12 on 04/25/24. A 50-day SMA is recorded $31.80, while a 200-day SMA reached $29.38. Nevertheless, trading volume fell to 0.86 million shares from 0.85 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 27.97, which, if violated, would cause prices to drop to 27.62. In the upper region, resistance lies at 28.82. The next price resistance is at 29.32. RSI (Relative Strength Index) is 30.48 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at -0.73, which suggests the price will decrease in the coming days. Percent R is at 94.81%, indicating bearish price movement. Stochastics %K at buying indicates that the stock is to be held.
