Shares of Cue Health Inc. (NASDAQ:HLTH – Get Rating) traded down 7.9% during trading on Tuesday after Cowen lowered their price target on the stock to $9.00. The company traded as low as $4.16 and last traded at $4.22. 8,120 shares changed hands during trading, a decline of 98% from the average session volume of 511,235 shares. The stock had previously closed at $4.58.
A number of other brokerages have also recently commented on HLTH. Morgan Stanley reduced their target price on shares of Cue Health from $10.00 to $8.00 and set an “equal weight” rating for the company in a report on Thursday, August 11th. BTIG Research lowered their target price on shares of Cue Health to $9.00 in a report on Monday.
Insider Transactions at Cue Health
In other news, insider Clint Sever sold 26,664 shares of Cue Health stock in a transaction that occurred on Thursday, July 21st. The shares were sold at an average price of $3.33, for a total value of $88,791.12. Following the transaction, the insider now owns 3,986,188 shares of the company’s stock, valued at approximately $13,274,006.04. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Insiders have sold a total of 79,992 shares of company stock valued at $277,306 in the last 90 days. Insiders own 29.40% of the company’s stock.
Institutional Trading of Cue Health
A number of institutional investors have recently bought and sold shares of HLTH. Decheng Capital Management III Cayman LLC acquired a new stake in Cue Health in the 1st quarter worth approximately $57,927,000. Keebeck Alpha LP acquired a new stake in Cue Health in the 1st quarter worth approximately $89,000. Front Barnett Associates LLC acquired a new stake in Cue Health during the 1st quarter valued at approximately $71,000. JPMorgan Chase & Co. lifted its stake in Cue Health by 84.5% during the 1st quarter. JPMorgan Chase & Co. now owns 10,264 shares of the company’s stock valued at $66,000 after acquiring an additional 4,702 shares during the period. Finally, Raymond James Financial Services Advisors Inc. acquired a new stake in Cue Health during the 1st quarter valued at approximately $76,000. 26.42% of the stock is currently owned by institutional investors and hedge funds.
Cue Health Stock Performance
The firm’s 50 day simple moving average is $3.84 and its 200 day simple moving average is $6.06. The firm has a market capitalization of $626.67 million and a price-to-earnings ratio of -14.10.
Cue Health (NASDAQ:HLTH – Get Rating) last announced its quarterly earnings data on Wednesday, August 10th. The company reported ($0.37) EPS for the quarter, beating the consensus estimate of ($0.50) by $0.13. Cue Health had a negative net margin of 6.24% and a positive return on equity of 5.50%. As a group, sell-side analysts forecast that Cue Health Inc. will post -1.32 earnings per share for the current year.
Cue Health Company Profile
Cue Health Inc, a healthcare technology company, designs and develops diagnostic platform for diagnostic tests for individuals, enterprises, healthcare providers and payors, and public health agencies. The company offers Cue Integrated Care platform comprising hardware and software components, such as Cue Health Monitoring System consisting of Cue Reader, a portable and reusable reader, Cue Cartridge, a single-use test cartridge, and Cue Wand, a sample collection wand; Cue Data and Innovation Layer, a solution with cloud-based data and analytics capability; Cue Virtual Care Delivery Apps, which include Cue Health App and Cue Enterprise Dashboard; and Cue Ecosystem Integrations and Apps, a solution that allows integrations with third-party applications and sensors.