The stock is trading at $3.85 just below $4.22, the stock’s 50 day moving average and which is marginally under the 200 day moving average of $4.05. The 50 day moving average went down $-0.37 or -8.76% and the 200 day average moved down $-0.20. Trading was heavy with 580K shares changing hands by the end of trading on Tuesday. Overall, volume was up 69.15% over the stocks normal daily volume.
Traders are more bullish on the company lately as inferred by the decrease in short interest. The stock experienced a fall in short interest between September 29, 2017 and October 13, 2017 of -7.51%. Short interest fell from 5,088,031 to 4,705,754 over that period. With short interest at 4,705,754 and short average daily volume at 250,443, the short-interest ratio is 19.0 and the short interest percentage is 0.04% as of October 13.
Here is a rundown on some insider market activity for Castlight Health, Inc. Class B (NYSE:CSLT). Mangini Siobhan Nolan, CFO disclosed the sale of 999 shares. The shares were sold on August 16th for an average price of $3.89. The CFO now owns $152,185 of the stock per the Form 4 SEC filing. CEO John C. Doyle let go of 3,289 shares at an average price of $3.90 on Wed the 16th. Doyle now owns $264,521 of stock as reported to the SEC.
Giovanni M. Colella, Director let go of $117,542 worth of shares at an average price of $3.91 on Wed the 16th. The Director now owns $108,483 of the stock per an SEC filing yesterday.
These funds have shifted positions in (CSLT). Concourse Capital Management, LLC expanded its holdings by buying 24,600 shares an increase of 38.5% as of 06/30/2017. Concourse Capital Management, LLC now holds 88,560 shares with a value of $368,000. The value of the position overall is up by 57.9%. Gagnon Advisors, LLC bolstered its position by buying 1,685 shares an increase of 0.2% in the quarter. Gagnon Advisors, LLC owns 896,410 shares worth $3,720,000. The total value of its holdings increased 13.9%.
As of the end of the quarter Edge Wealth Management LLC had acquired a total of 3,000 shares growing its position 6.0%. The value in dollars increased from $198,000 to $231,000 increasing 16.7% quarter over quarter. As of quarter end Simplex Trading, LLC had sold 246 shares trimming its holdings by 18.2%. The value of the total investment in Castlight Health, Inc. Class B went from $5,000 to $4,000 a change of 20.0% quarter to quarter.
On October 10 the stock rating was upgraded to “Buy” from “Hold” in an announcement from Canaccord Genuity.
As of the latest earnings report the EPS was $-0.44 and is projected to be $-0.23 for the current year with 131,687,000 shares outstanding. Analysts expect next quarter’s EPS to be $-0.04 with next year’s EPS anticipated to be $-0.10.
Castlight Health, Inc., launched on January 31, 2008, 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. The Business’s technology offering aggregates data and applies analytics to make healthcare data transparent. Its products deliver employee engagement and enable employers to integrate benefit programs into a single platform available to employees and their families. The Business’s health benefits platform engages external data and its substantial user base to provide a single, end-to-end solution that integrates benefit programs and engages employees through personalized and relevant communications. Its offering provides employers the opportunity to communicate, measure, and get value out of their benefits and programs on a real-time basis. It obtains external data from a range of sources, such as healthcare providers, insurance companies, governmental agencies and quality-monitoring organizations, as well as internal data it generates from the usage of its products. It applies data science techniques, including predictive modeling and epidemiological analytics that engage its database to drive insights..Advertisement