Cue Health (NASDAQ:HLTH) Shares Down 3.5%

Cue Health Inc. (NASDAQ:HLTH) shares fell 3.5% during mid-day trading on Tuesday . The company traded as low as $0.15 and last traded at $0.15. 334,295 shares traded hands during mid-day trading, a decline of 65% from the average session volume of 945,308 shares. The stock had previously closed at $0.15.

Wall Street Analysts Forecast Growth

Separately, BTIG Research reissued a “neutral” rating on shares of Cue Health in a report on Thursday, March 14th.

Cue Health Stock Performance

The company has a market cap of $22.51 million, a price-to-earnings ratio of -0.06 and a beta of 1.23. The company has a fifty day moving average price of $0.22 and a two-hundred day moving average price of $0.27.

Cue Health (NASDAQ:HLTH) last announced its quarterly earnings data on Wednesday, March 13th. The company reported ($0.32) earnings per share for the quarter, topping the consensus estimate of ($0.45) by $0.13. Cue Health had a negative return on equity of 67.82% and a negative net margin of 526.48%. The company had revenue of $18.80 million for the quarter, compared to analyst estimates of $17.60 million. Sell-side analysts anticipate that Cue Health Inc. will post -1.13 EPS for the current fiscal year.

Hedge Funds Weigh In On Cue Health

Hedge funds and other institutional investors have recently modified their holdings of the stock. Dimensional Fund Advisors LP bought a new position in Cue Health in the 1st quarter valued at $32,000. American Century Companies Inc. bought a new position in Cue Health in the 4th quarter valued at $32,000. Franklin Resources Inc. bought a new position in Cue Health in the 1st quarter valued at $33,000. Legal & General Group Plc raised its position in Cue Health by 813.8% in the 2nd quarter. Legal & General Group Plc now owns 12,355 shares of the company’s stock valued at $39,000 after purchasing an additional 11,003 shares during the last quarter. Finally, Engineers Gate Manager LP bought a new position in Cue Health in the 3rd quarter valued at $48,000. Institutional investors own 45.49% of the company’s stock.

About Cue Health

Cue Health Inc operates as a healthcare technology company. It provides the Cue Health platform that offers individuals and healthcare providers convenient and personalized access to lab-quality diagnostic tests at home and at the point-of-care, as well as on-demand telehealth consultations and treatment options for a range of health and wellness needs.