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Potential Price Increase for Evolent Health Inc (EVH) After Recent Insider Activity

Evolent Health Inc’s filing revealed that its Chief Executive Officer Blackley Seth unloaded Company’s shares for reported $3.74 million on Dec 05 ’23. In the deal valued at $26.54 per share,141,000 shares were sold. As a result of this transaction, Blackley Seth now holds 637,645 shares worth roughly $17.73 million.

Then, McCarthy Daniel Joseph sold 11,000 shares, generating $330,000 in total proceeds. Upon selling the shares at $30.00, the PRESIDENT now owns 198,333 shares.

Before that, Rafferty Emily Ann sold 7,900 shares. Evolent Health Inc shares valued at $221,595 were divested by the Chief Operating Officer at a price of $28.05 per share. As a result of the transaction, Rafferty Emily Ann now holds 70,897 shares, worth roughly $1.97 million.

Citigroup initiated its Evolent Health Inc [EVH] rating to a Buy in a research note published on April 22, 2024; the price target was $40. A number of analysts have revised their coverage, including Oppenheimer’s analysts, who began to cover the stock in early March with a ‘”an Outperform”‘ rating. Barclays began covering EVH with “an Overweight” recommendation on January 03, 2024. JMP Securities started covering the stock on December 06, 2023. It rated EVH as “a Mkt outperform”.

Price Performance Review of EVH

On Monday, Evolent Health Inc [NYSE:EVH] saw its stock jump 0.58% to $27.81. Over the last five days, the stock has lost -6.87%. Evolent Health Inc shares have fallen nearly -15.80% since the year began. Nevertheless, the stocks have fallen -22.56% over the past one year. While a 52-week high of $36.70 was reached on 03/04/24, a 52-week low of $23.33 was recorded on 04/26/24. SMA at 50 days reached $31.67, while 200 days put it at $29.37. A total of 0.64 million shares were traded, compared to the trading of 1.02 million shares in the previous session.

Levels Of Support And Resistance For EVH Stock

The 24-hour chart illustrates a support level at 27.62, which if violated will result in even more drops to 27.44. On the upside, there is a resistance level at 28.10. A further resistance level may holdings at 28.40. The Relative Strength Index (RSI) on the 14-day chart is 29.20, which indicates oversold technical sentiment, while the Moving Average Convergence Divergence (MACD) stands at -1.60, which suggests price will go down in the next trading period. Percent R suggests that price movement has been bearish at 94.72%. Stochastics %K at 3.57% indicates the stock is a buying.

The most recent change occurred on October 16, 2023 when UBS began covering the stock and recommended ‘”a Buy”‘ rating along with a $46 price target.

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