Castlight Health, inc. (CSLT) Downgraded by BidaskClub to Sell

BidaskClub downgraded shares of Castlight Health, inc. (NYSE:CSLT) from a hold rating to a sell rating in a research report report published on Sunday, July 30th.

Several other analysts have also issued reports on CSLT. Zacks Investment Research lowered Castlight Health, inc. from a buy rating to a hold rating in a report on Monday, April 10th. Dougherty & Co started coverage on Castlight Health, inc. in a report on Wednesday, May 10th. They set a buy rating and a $5.50 target price on the stock. Morgan Stanley lowered Castlight Health, inc. from an equal weight rating to an underweight rating and dropped their target price for the stock from $4.00 to $3.75 in a report on Friday, May 12th. ValuEngine lowered Castlight Health, inc. from a hold rating to a sell rating in a report on Friday, May 19th. Finally, Chardan Capital started coverage on Castlight Health, inc. in a report on Tuesday, June 6th. They set a buy rating and a $4.50 target price on the stock. Three analysts have rated the stock with a sell rating, five have issued a hold rating and two have issued a buy rating to the company’s stock. The company has a consensus rating of Hold and a consensus target price of $4.57.

Castlight Health, inc. (NYSE CSLT) opened at 3.85 on Friday. Castlight Health, inc. has a one year low of $3.05 and a one year high of $5.50. The firm’s market cap is $506.99 million. The stock’s 50 day moving average price is $4.22 and its 200-day moving average price is $3.81.

Castlight Health, inc. (NYSE:CSLT) last issued its quarterly earnings results on Wednesday, August 2nd. The software maker reported ($0.07) EPS for the quarter, beating analysts’ consensus estimates of ($0.09) by $0.02. The company had revenue of $32.10 million for the quarter, compared to analyst estimates of $31.14 million. Castlight Health, inc. had a negative return on equity of 36.30% and a negative net margin of 42.54%. The company’s quarterly revenue was up 36.0% compared to the same quarter last year. During the same period in the previous year, the company posted ($0.11) earnings per share. Analysts forecast that Castlight Health, inc. will post ($0.25) earnings per share for the current year.

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In other Castlight Health, inc. news, insider Giovanni M. Colella sold 23,000 shares of the business’s stock in a transaction that occurred on Wednesday, August 9th. The stock was sold at an average price of $4.06, for a total transaction of $93,380.00. Following the transaction, the insider now owns 78,906 shares of the company’s stock, valued at $320,358.36. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, insider Giovanni M. Colella sold 23,800 shares of the business’s stock in a transaction that occurred on Tuesday, August 15th. The stock was sold at an average price of $4.05, for a total value of $96,390.00. Following the transaction, the insider now directly owns 78,906 shares in the company, valued at approximately $319,569.30. The disclosure for this sale can be found here. In the last three months, insiders have sold 208,287 shares of company stock worth $795,240. Company insiders own 37.43% of the company’s stock.

Several institutional investors have recently bought and sold shares of CSLT. Russell Investments Group Ltd. purchased a new position in Castlight Health, inc. during the fourth quarter valued at approximately $1,054,000. State Street Corp increased its position in Castlight Health, inc. by 11.3% in the fourth quarter. State Street Corp now owns 663,065 shares of the software maker’s stock valued at $3,277,000 after buying an additional 67,459 shares during the last quarter. Renaissance Technologies LLC increased its position in Castlight Health, inc. by 12.8% in the fourth quarter. Renaissance Technologies LLC now owns 902,190 shares of the software maker’s stock valued at $4,466,000 after buying an additional 102,690 shares during the last quarter. Teachers Advisors LLC increased its position in Castlight Health, inc. by 8.1% in the fourth quarter. Teachers Advisors LLC now owns 62,781 shares of the software maker’s stock valued at $311,000 after buying an additional 4,717 shares during the last quarter. Finally, Edge Wealth Management LLC purchased a new position in Castlight Health, inc. during the first quarter valued at approximately $172,000. 40.17% of the stock is currently owned by institutional investors.

About Castlight Health, inc.

Castlight Health, Inc offers a health benefits platform that engages employees to make healthcare decisions, and enables employers to communicate and measure their benefit programs. The Company operates through cloud-based products segment. Its technology offering aggregates data and applies analytics to make healthcare data transparent.

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