The stock of Castlight Health Inc (NYSE:CSLT) hit a new 52-week high and has $7.45 target or 49.00% above today’s $5.00 share price. The 8 months bullish chart indicates low risk for the $518.52M company. The 1-year high was reported on Nov, 17 by Barchart.com. If the $7.45 price target is reached, the company will be worth $254.07M more.
The 52-week high event is an important milestone for every stock because it shows very positive momentum and is time when buyers come in. During such notable technical setup, fundamental investors usually stay away and are careful shorting or selling the stock. About 49,776 shares traded hands. Castlight Health Inc (NYSE:CSLT) has risen 38.27% since April 15, 2016 and is uptrending. It has outperformed by 33.64% the S&P500.
Castlight Health Inc (NYSE:CSLT) Ratings Coverage
Out of 6 analysts covering Castlight Health (NYSE:CSLT), 3 rate it a “Buy”, 0 “Sell”, while 3 “Hold”. This means 50% are positive. Castlight Health has been the topic of 12 analyst reports since October 9, 2015 according to StockzIntelligence Inc. The rating was initiated by Topeka Capital Markets on Wednesday, December 16 with “Buy”. The rating was downgraded by Leerink Swann to “Mkt Perform” on Thursday, November 5. The firm has “Mkt Perform” rating by FBR Capital given on Wednesday, May 11. The stock has “Buy” rating given by Stifel Nicolaus on Thursday, February 18. Stifel Nicolaus maintained Castlight Health Inc (NYSE:CSLT) on Thursday, November 5 with “Buy” rating. The firm earned “Overweight” rating on Friday, October 9 by First Analysis. The firm has “Mkt Perform” rating by FBR Capital given on Wednesday, November 18. The rating was maintained by Topeka Capital Markets with “Buy” on Thursday, February 18.
According to Zacks Investment Research, “Castlight Health, Inc. operates as a provider of cloud-based software. Its enables enterprises to gain control over their rapidly escalating health care costs. The Company’s Enterprise Healthcare Cloud allows its customers to conquer the complexity of the existing health care system by providing personalized, actionable information to their employees, implementing technology-enabled benefit designs and integrating disparate systems and applications. Castlight Health, Inc. is headquartered in San Francisco, California.”
Insitutional Activity: The institutional sentiment increased to 1.54 in Q2 2016. Its up 0.54, from 1 in 2016Q1. The ratio is positive, as 6 funds sold all Castlight Health Inc shares owned while 22 reduced positions. 10 funds bought stakes while 33 increased positions. They now own 40.64 million shares or 0.35% more from 40.50 million shares in 2016Q1.
Gagnon Securities Limited Liability Company owns 993,811 shares or 1.88% of their US portfolio. Metropolitan Life Ins Com New York holds 0% or 34,226 shares in its portfolio. Prescott Gru Incorporated Cap Limited last reported 241,682 shares in the company. D E Shaw Inc holds 0% of its portfolio in Castlight Health Inc (NYSE:CSLT) for 436,825 shares. Adage Capital Prtnrs Group Ltd Liability last reported 301,111 shares in the company. Prudential Public Ltd holds 3.24M shares or 0.05% of its portfolio. State Street Corp holds 587,988 shares or 0% of its portfolio. Bragg Financial Advsrs reported 13,947 shares or 0.01% of all its holdings. Price T Rowe Incorporated Md holds 0% of its portfolio in Castlight Health Inc (NYSE:CSLT) for 14,000 shares. Great West Life Assurance Can holds 6,297 shares or 0% of its portfolio. Alyeska Investment Group Ltd Partnership holds 766,568 shares or 0.03% of its portfolio. The New Jersey-based Blackrock Inv Ltd Liability Co has invested 0% in Castlight Health Inc (NYSE:CSLT). Schwab Charles Inv Management Inc last reported 0% of its portfolio in the stock. California State Teachers Retirement Sys has 84,599 shares for 0% of their US portfolio. Moreover, Gagnon Advsrs Ltd Company has 2.5% invested in Castlight Health Inc (NYSE:CSLT) for 733,745 shares.
Insider Transactions: Since August 15, 2016, the stock had 0 insider buys, and 7 insider sales for $601,762 net activity. McCracken John sold $498,380 worth of Castlight Health Inc (NYSE:CSLT) on Monday, November 14. 225 shares with value of $942 were sold by Nolan Mangini Siobhan on Wednesday, August 17. 8,286 shares with value of $35,186 were sold by Rende Jonathan on Monday, August 15. Colella Giovanni M. sold $15,857 worth of stock or 3,761 shares. DOYLE JOHN C sold $14,241 worth of stock.
More notable recent Castlight Health Inc (NYSE:CSLT) news were published by: Fool.com which released: “Why Castlight Health Inc. Is SkyrocketingToday” on May 18, 2016, also Fool.com with their article: “Why Castlight Health Inc Is Surging Today” published on August 09, 2016, Streetinsider.com published: “Form 4 CASTLIGHT HEALTH, INC. For: Nov 14 Filed by: McCracken John” on November 17, 2016. More interesting news about Castlight Health Inc (NYSE:CSLT) were released by: Fool.com and their article: “Castlight Health Jumped 12.1% in August — Here’s Why” published on September 09, 2016 as well as Seekingalpha.com‘s news article titled: “Very Negative Outlook For Castlight Health” with publication date: February 03, 2016.
CSLT Company Profile
Castlight Health, Inc., incorporated on January 31, 2008, offers a health benefits platform that engages employees to make healthcare decisions, and enables employers to communicate and measure their benefit programs. The Firm operates through cloud products segment. The Company’s technology offering aggregates data and applies analytics to make healthcare data transparent. The Company’s products deliver employee engagement and enable employers to integrate benefit programs into a single platform available to employees and their families. The Company’s health benefits platform engages external data and its substantial user base to provide a single, end-to-end solution that integrates benefit programs and engages employees through personalized and relevant communications. The Company’s offering provides employers the opportunity to communicate, measure, and get value out of their benefits and programs on a real-time basis. It obtains external data from a range of sources, such as healthcare providers, insurance companies, governmental agencies and quality-monitoring organizations, as well as internal data it generates from the usage of its products. It applies data science techniques, including predictive modeling and epidemiological analytics that engage its database to drive insights.
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