The stock of eHealth, Inc. (NASDAQ:EHTH) is now priced at $63.9 and the shares are 2.09 points up or 3.38% higher compared to its previous closing price of $61.81. The stock had 1.434 million contracts set over the past session. EHTH shares’ daily volume is compared to its average trading volume at 1.153 million shares. However, it has a float of 24.63 million and although its performance was -6.81% over the week, it’s one to watch. It means the stock’s downside potential is -100% with the EHTH share price recently placing at $60.4 to $64.66. However, some brokerage firms have priced the stock below the average, including one that has called $98.
The shorts are climbing into the eHealth, Inc. stock, with the latest data on short interest released on August 14, 2020, showing that short interest numbers in the EHTH shares have risen. Short interest in the stock represents just 12.66% of its float, but the volume has raised by 548512. The volume of shorted shares rised to 3.118 million from 2.569 million shares over the last two weeks. The average intraday trading volume has been 1.199 million shares, which means that days to cover moved to roughly 2.6007.
In the last trading session, eHealth, Inc. (NASDAQ:EHTH) dropped by -$4.67 over the week and lost -$5.24 on its 20-day. The stock’s high in the recent session is lower when compared to its 52-week high of $152.19. The stock recorded its established 52-week high on 02/21/20.
Since 10/14/19, the stock has traded to a low of $52.71 at 21.23%, an encouraging piece of data likely to interest most investors out to exploit the stock’s recent surge. The stock has a beta allocation of -0.31. Being above 1 means that the stock’s volatility is higher than the market and traders are keenly watching it.
Looking at current readings, eHealth, Inc.’s two-week RSI is 32.83. This suggests that the stock is neutral at the moment and that EHTH shares’ price movement remains stable. The stochastic readings are equally revealing at 7.97% meaning the EHTH share price is currently in overbought territory.
The technical chart shows that the EHTH stock will likely settle at between $65.57 and $67.25 per share. However, if the stock dips below $61.31, then its market would become much weaker. Any downside could see the stock price sliding to levels as low as $58.73.
Currently, the stock is trading in the red of MACD, with a reading of -4.36. Investors always pay attention to any move above or below the zero-line, mainly because the indicator points to the position of the stock’s short-term average relative to its long-term measure. A MACD -a reading above the zero line means that the short-term is above the long-term average. This scenario implies that there is an upward momentum. The opposite is true when the MACD falls below the zero-line.
Analysts at Maxim Group assigned EHTH a rating of Buy in their intiating review released on July 14. SVB Leerink analysts see the stock as a Mkt Perform with a target price of $108 in a flash note released to investors on July 01 initiating covering the stock. Barclays analysts see the stock as Overweight when the analysts initiated the share price coverage on April 16, placing it at $150.
The average rating for the EHTH equity is 2.07 and is currently gathering a bullish momentum. Of 13 analysts tracking eHealth, Inc. polled by Reuters, 3 rated EHTH as a hold. The remaining 10 analysts were split evenly. However, the split wasn’t equal as a majority (10) rated it as a buy or strong buy. 0 analyst advised investors against buying the stock or to sell if they own any of the stock.
Elsewhere, the EHTH stock price is 11.95X ahead of its 12-month Consensus earnings per share estimates. The stocks P/S ratio currently stands at 19.9 below the group’s average of 28.6. eHealth, Inc. has its P/E ratio at 2.1, which means that the stock is currently trading at a discount relative to the 5.6 industry average.
Zacks Consensus Estimate forecasts that the current-quarter revenues for eHealth, Inc. (NASDAQ:EHTH) will decrease by about -99.9%, which will see them reach $87.28 million. The company’s full-year revenues are, however, expected to increase by about 29.06%, up from $506 million to $653 million. EHTH’s expected adjusted earnings should surge almost 37.21% to end up at -$0.59 per share, while for the fiscal year, analysts project the company’s earnings to grow by about 1.2% to record $4.21/share.