DarioHealth (NASDAQ:DRIO) Stock Price Crosses Below 200 Day Moving Average – Here’s Why

Shares of DarioHealth Corp. (NASDAQ:DRIO) crossed below its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of $0.81 and traded as low as $0.64. DarioHealth shares last traded at $0.68, with a volume of 100,221 shares trading hands.

Wall Street Analysts Forecast Growth

A number of brokerages have commented on DRIO. Stifel Nicolaus reduced their target price on shares of DarioHealth from $3.50 to $2.00 and set a “buy” rating for the company in a report on Tuesday, March 11th. TD Cowen downgraded shares of DarioHealth from a “buy” rating to a “hold” rating and reduced their target price for the stock from $2.00 to $1.00 in a report on Wednesday, January 29th.

DarioHealth Price Performance

The firm has a market capitalization of $28.26 million, a P/E ratio of -0.72 and a beta of 1.42. The company has a debt-to-equity ratio of 0.35, a current ratio of 1.57 and a quick ratio of 1.32. The stock’s fifty day simple moving average is $0.69 and its 200 day simple moving average is $0.81.

Institutional Investors Weigh In On DarioHealth

A number of large investors have recently modified their holdings of DRIO. XTX Topco Ltd grew its stake in shares of DarioHealth by 81.4% during the third quarter. XTX Topco Ltd now owns 29,455 shares of the company’s stock worth $33,000 after acquiring an additional 13,219 shares during the last quarter. DLK Investment Management LLC grew its stake in shares of DarioHealth by 40.9% during the fourth quarter. DLK Investment Management LLC now owns 141,657 shares of the company’s stock worth $111,000 after acquiring an additional 41,107 shares during the last quarter. Finally, Appian Way Asset Management LP grew its stake in shares of DarioHealth by 2.5% during the third quarter. Appian Way Asset Management LP now owns 1,410,870 shares of the company’s stock worth $1,580,000 after acquiring an additional 34,990 shares during the last quarter. Hedge funds and other 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.