B. Riley Trims Ontrak (NASDAQ:OTRK) Target Price to $58.00

Ontrak (NASDAQ:OTRK) had its price objective decreased by B. Riley from $73.00 to $58.00 in a research note released on Monday morning, The Fly reports. B. Riley currently has a buy rating on the stock.

Several other brokerages also recently weighed in on OTRK. Cowen reissued a market perform rating and set a $35.00 price target (down previously from $75.00) on shares of Ontrak in a research report on Monday, March 8th. Zacks Investment Research raised shares of Ontrak from a sell rating to a buy rating and set a $37.00 price objective for the company in a research note on Tuesday, May 4th. Canaccord Genuity cut their price target on shares of Ontrak from $46.00 to $38.00 and set a buy rating on the stock in a report on Friday, May 7th. Benchmark raised their price objective on Ontrak from $40.00 to $50.00 and gave the stock a buy rating in a report on Wednesday, March 17th. Finally, Royal Bank of Canada reissued a sector perform rating and issued a $32.00 price target (down from $82.00) on shares of Ontrak in a research report on Monday, March 8th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and three have assigned a buy rating to the company’s stock. The stock has a consensus rating of Hold and an average target price of $41.67.

Ontrak stock opened at $31.28 on Monday. The company has a current ratio of 3.59, a quick ratio of 3.59 and a debt-to-equity ratio of 3.04. The firm has a market cap of $554.81 million, a P/E ratio of -18.40 and a beta of 2.52. Ontrak has a 1-year low of $17.55 and a 1-year high of $99.89. The firm has a 50-day moving average of $31.74 and a 200-day moving average of $53.56.

Ontrak (NASDAQ:OTRK) last posted its earnings results on Monday, March 1st. The company reported ($0.20) earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.32) by $0.12. The business had revenue of $29.25 million for the quarter, compared to analysts’ expectations of $28.59 million. Research analysts forecast that Ontrak will post -1.41 earnings per share for the current fiscal year.

In other Ontrak news, Chairman Terren S. Peizer sold 89,572 shares of the business’s stock in a transaction that occurred on Monday, May 10th. The stock was sold at an average price of $30.50, for a total value of $2,731,946.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 58.20% of the stock is currently owned by company insiders.

Several institutional investors have recently modified their holdings of the business. Global Retirement Partners LLC boosted its stake in shares of Ontrak by 118.8% during the 1st quarter. Global Retirement Partners LLC now owns 3,500 shares of the company’s stock worth $114,000 after acquiring an additional 1,900 shares in the last quarter. M&T Bank Corp boosted its position in Ontrak by 4.7% during the fourth quarter. M&T Bank Corp now owns 3,551 shares of the company’s stock worth $219,000 after purchasing an additional 158 shares in the last quarter. Principal Financial Group Inc. acquired a new stake in Ontrak in the fourth quarter valued at approximately $220,000. JPMorgan Chase & Co. increased its position in shares of Ontrak by 19.0% in the fourth quarter. JPMorgan Chase & Co. now owns 3,663 shares of the company’s stock valued at $226,000 after buying an additional 585 shares in the last quarter. Finally, Prelude Capital Management LLC acquired a new position in shares of Ontrak during the 4th quarter worth approximately $236,000. Institutional investors and hedge funds own 27.49% of the company’s stock.

Ontrak Company Profile

Ontrak, Inc operates as an artificial intelligence powered, virtualized outpatient healthcare treatment company that provides in-person or telehealth intervention services to health plans and other third-party payors. Its Ontrak PRE (Predict-Recommend-Engage) platform predicts people whose chronic disease will improve with behavior change, recommends care pathways that people are willing to follow, and engages people who aren't getting the care they need.

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