Castlight Health (NYSE:CSLT) Shares Up 5%


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Castlight Health, Inc. (NYSE:CSLT) shares shot up 5% during mid-day trading on Wednesday . The stock traded as high as $1.74 and last traded at $1.67. 1,911,836 shares traded hands during mid-day trading, an increase of 114% from the average session volume of 894,917 shares. The stock had previously closed at $1.59.

Several brokerages have issued reports on CSLT. Zacks Investment Research lowered Castlight Health from a “buy” rating to a “hold” rating in a research note on Wednesday. ValuEngine lowered Castlight Health from a “buy” rating to a “hold” rating in a research note on Thursday, October 1st. One analyst has rated the stock with a sell rating and four have issued a hold rating to the company. The stock currently has a consensus rating of “Hold” and an average target price of $1.25.

The business has a 50-day moving average price of $1.31 and a two-hundred day moving average price of $1.13. The company has a market capitalization of $256.81 million, a price-to-earnings ratio of -3.41 and a beta of 1.88.

Castlight Health (NYSE:CSLT) last issued its earnings results on Thursday, November 5th. The software maker reported $0.02 earnings per share for the quarter, topping analysts’ consensus estimates of ($0.08) by $0.10. Castlight Health had a negative return on equity of 12.18% and a negative net margin of 49.79%. The company had revenue of $35.08 million for the quarter, compared to analyst estimates of $29.90 million. As a group, equities research analysts predict that Castlight Health, Inc. will post -0.09 EPS for the current fiscal year.

In related news, Director Seth B. Cohen sold 30,000 shares of the company’s stock in a transaction on Monday, December 28th. The stock was sold at an average price of $1.50, for a total transaction of $45,000.00. Following the completion of the sale, the director now owns 372,761 shares in the company, valued at $559,141.50. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CEO Maeve O’meara sold 577,907 shares of the company’s stock in a transaction on Tuesday, November 17th. The stock was sold at an average price of $1.14, for a total value of $658,813.98. Insiders have sold 638,839 shares of company stock worth $741,922 over the last ninety days. 17.05% of the stock is owned by insiders.

Institutional investors have recently made changes to their positions in the stock. Jane Street Group LLC bought a new stake in Castlight Health during the second quarter worth $544,000. Bank of America Corp DE grew its stake in Castlight Health by 72.3% in the 2nd quarter. Bank of America Corp DE now owns 595,020 shares of the software maker’s stock valued at $494,000 after purchasing an additional 249,659 shares during the period. Charles Schwab Investment Management Inc. grew its stake in Castlight Health by 16.9% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 393,925 shares of the software maker’s stock valued at $446,000 after purchasing an additional 56,956 shares during the period. Two Sigma Advisers LP grew its stake in Castlight Health by 127.8% in the 2nd quarter. Two Sigma Advisers LP now owns 364,000 shares of the software maker’s stock valued at $302,000 after purchasing an additional 204,200 shares during the period. Finally, FMR LLC grew its stake in Castlight Health by 0.4% in the 2nd quarter. FMR LLC now owns 17,169,979 shares of the software maker’s stock valued at $14,251,000 after purchasing an additional 67,760 shares during the period. Institutional investors and hedge funds own 46.22% of the company’s stock.

Castlight Health Company Profile (NYSE:CSLT)

Castlight Health, Inc provides health navigation solutions for employers and health plan customers in education, manufacturing, retail, technology, and government industries in the United States. It provides Care Guidance Navigator that enables users to make care decisions and navigate the employer-sponsored healthcare benefit programs; Wellbeing Navigator, which helps to drive engagement across an employer's benefits program; and Complete Health Navigator that combines the Wellbeing Navigator and Care Guidance Navigator packages for unified user experience.

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