In the last trading session, 1,142,601 shares of the Castlight Health, Inc.(NYSE:CSLT) were traded, and its beta was 1.7. Most recently the company’s share price was $1.68, and it changed around -$0.06 or -0.03% from the last close, which brings the market valuation of the company to $258.35 Million. CSLT currently trades at a discount to its 52-week high of $2.15, offering almost -27.98% off that amount. The share price’s 52-week low was $0.6, which indicates that the current value has risen by an impressive 64.29% since then. We note from Castlight Health, Inc.’s average daily trading volume that its 10-day average is 1.35 Million shares, with the 3-month average coming to 978.52 Million.
Castlight Health, Inc. stock received a consensus recommendation rating of Overweight, based on a mean score of 2.5. If we narrow it down even further, the data shows that none out of 4 analysts rate the stock as a Sell; another but none rate it as Overweight. Among the rest, 2 recommended CSLT as a Hold, whereas 2 deemed it a Buy, and no one rated it as Underweight. Castlight Health, Inc. is expected to report earnings per share of $0 for the current quarter.
Castlight Health, Inc. (NYSE:CSLT): Trading Information
Although CSLT has showed a red trend with a performance of -3.45% at the end of last trading. The performance over the last five days has remained in the red territory. The rise to weekly highs of $2.03 on Wednesday, Feb 17 increased the stock’s daily price by 17.24%. The company’s shares are currently up 0.29% year-to-date, but still down -0.125 over the last five days. On the other hand, Castlight Health, Inc. (NYSE:CSLT) is 0.01% up in the 30-day period. We can see from the shorts that 1.71 Million shares have been sold at a short interest cover period of 0 day(s).
The consensus price target as assigned by Wall Street analysts is $1.75, which translates to bears needing to increase their stock price by 4.17% from its current value. Analyst projections state that CSLT is forecast to be at a low of $1 and a high of $2.5. In order for the stock price to hit the forecast high, the stock would need to surge +48.81% from its current level, while the stock would need to crash -40.48% from its current level to reach the projected low.
Castlight Health, Inc. (CSLT) projections and forecasts
Castlight Health, Inc. share prices are performing particularly well compared to other companies within the same industry. As is evident from the statistics, the company’s shares have risen +33.33 percent over the past six months and at a 107.14% annual growth rate that is well above the industry average of 2.8%. Moreover, analysts have decided to roll up on their fiscal year 2021 revenue estimates. The rating firms predict that it will gain +100% in revenue this quarter, and will report an increase of 100% in the next quarter. The year-over-year growth rate is expected to be -0.4%, down from the previous year.
Consensus estimates provided by 4 financial analysts predict the company will bring in an average of $33.06 Million in revenue for the current quarter. 3 analysts expect Castlight Health, Inc. to make $33.87 Million in revenue for the quarter ending March 01, 2021. The company’s sales for the same quarters a year ago were $36.45 Million and $39.05 Million respectively. Analysts predict that the company’s current quarter sales will drop, forecast at -9.3%. Forecasts for the next quarter put sales growth at -13.3%.
Looking at the company’s year-over-year earnings, the past five years showed a positive earnings growth rate of 24.9%. Castlight Health, Inc. earnings are expected to increase by 4.4% in 2021, but the outlook is positive 30% per year for the next five years.
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Castlight Health, Inc. (NYSE:CSLT)’s Biggest Investors
Upon looking at major shareholders, it appears that insiders hold 5.76% of Castlight Health, Inc. shares, and 69.61% of them are in the hands of institutional investors. The stock currently has a share float of 73.87%. Castlight Health, Inc. stock is held by 103 institutions, with FMR, LLC being the largest institutional investor. By Dec 30, 2020, it held 15% of the shares, which is about 17.81 Million shares worth $23.15 Million.
Raging Capital Management, Llc, with 8.49% or 10.08 Million shares worth $11.39 Million as of Sep 29, 2020, holds the second largest percentage of outstanding shares.