DarioHealth (NASDAQ:DRIO) Downgraded to “Hold” Rating by TD Cowen

DarioHealth (NASDAQ:DRIO) was downgraded by stock analysts at TD Cowen from a “buy” rating to a “hold” rating in a note issued to investors on Wednesday, Marketbeat.com reports. They currently have a $1.00 price objective on the stock, down from their prior price objective of $2.00. TD Cowen’s price target would suggest a potential upside of 44.93% from the company’s previous close.

DarioHealth Stock Up 1.4 %

Shares of NASDAQ DRIO opened at $0.69 on Wednesday. The company has a quick ratio of 1.32, a current ratio of 1.57 and a debt-to-equity ratio of 0.35. The company has a market cap of $23.53 million, a P/E ratio of -0.73 and a beta of 1.39. DarioHealth has a 52 week low of $0.63 and a 52 week high of $2.60. The business has a 50-day simple moving average of $0.77 and a two-hundred day simple moving average of $0.90.

DarioHealth (NASDAQ:DRIO) last released its quarterly earnings data on Thursday, November 7th. The company reported ($0.25) EPS for the quarter, missing analysts’ consensus estimates of ($0.18) by ($0.07). The firm had revenue of $7.42 million during the quarter, compared to the consensus estimate of $7.34 million. DarioHealth had a negative net margin of 205.62% and a negative return on equity of 72.16%. During the same quarter last year, the business posted ($0.49) earnings per share. Research analysts anticipate that DarioHealth will post -1.18 earnings per share for the current fiscal year.

Institutional Investors Weigh In On DarioHealth

Several large investors have recently added to or reduced their stakes in the business. XTX Topco Ltd raised its holdings in shares of DarioHealth by 81.4% in the 3rd quarter. XTX Topco Ltd now owns 29,455 shares of the company’s stock valued at $33,000 after acquiring an additional 13,219 shares in the last quarter. DLK Investment Management LLC raised its stake in DarioHealth by 71.6% in the third quarter. DLK Investment Management LLC now owns 100,550 shares of the company’s stock valued at $113,000 after purchasing an additional 41,943 shares in the last quarter. Finally, Appian Way Asset Management LP lifted its position in DarioHealth by 2.5% during the third quarter. Appian Way Asset Management LP now owns 1,410,870 shares of the company’s stock valued at $1,580,000 after purchasing an additional 34,990 shares during the last quarter. Institutional investors own 33.39% of the company’s stock.

DarioHealth Company Profile

DarioHealth Corp. operates as a digital health company in the United States, Canada, the European Union, Australia, and New Zealand. Its digital therapeutics platform and suite of solutions deliver personalized and dynamic interventions driven by data analytics and one-on-one coaching for diabetes, hypertension, weight management, musculoskeletal pain, and behavioral health.