The stock of Evolent Health, Inc. (NYSE:EVH) is now priced at $14.16 and the shares are -0.17 points down or -1.19% lower compared to its previous closing price of $14.33. EVH shares have a float of 77.88 million and although its performance was 8.51% over the week, it’s one to watch. Analysts have given the EVH stock a yearly average price target of $11.5 per share. It means the stock’s downside potential is -18.79% with the EVH share price recently placing at $14.07 to $14.38. However, some brokerage firms have priced the stock below the average, including one that has called $9.5.

The shorts are running away from the Evolent Health, Inc. stock, with the latest data on short interest released on July 31, 2020, showing that short interest numbers in the EVH shares have declined. Short interest in the stock represents just 13.97% of its float, but the volume has dropped by 0.

In the last trading session, Evolent Health, Inc. (NYSE:EVH) raised by $1.11 over the week and gained $1.44 on its 20-day. The stock’s high in the recent session is lower when compared to its 52-week high of $14.5. The stock recorded its established 52-week high on 08/20/20.

Since 03/18/20, the stock has traded to a low of $3.5 at 304.57%, 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 1.86. Being above 1 means that the stock’s volatility is higher than the market and traders are keenly watching it.

Looking at current readings, Evolent Health, Inc.’s two-week RSI is 69.1. This suggests that the stock is neutral at the moment and that EVH shares’ price movement remains stable. The stochastic readings are equally revealing at 80.2% meaning the EVH share price is currently in oversold territory.

The technical chart shows that the EVH stock will likely settle at between $14.34 and $14.51 per share. However, if the stock dips below $14.03, then its market would become much weaker. Any downside could see the stock price sliding to levels as low as $13.89.

Currently, the stock is trading in the green of MACD, with a reading of 0.57. 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 KeyBanc Capital Markets cut their recommendation for EVH from Overweight to Sector Weight in July 06 review. Goldman analysts downgraded their recommendation of the stock from Buy to Neutral while keeping its target price at $13 to $8 in a flash note released to investors on June 05. Cantor Fitzgerald seeing the stock struggling downgraded it from Overweight to Neutral on June 02 placing it at $9 to $8.

The average rating for the EVH equity is 2.17 and is currently gathering a bullish momentum. Of 12 analysts tracking Evolent Health, Inc. polled by Reuters, 5 rated EVH as a hold. The remaining 7 analysts were split evenly. However, the split wasn’t equal as a majority (7) 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.