DarioHealth (NASDAQ:DRIO) Rating Lowered to Hold at TD Cowen

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

DarioHealth Trading Up 1.4 %

NASDAQ DRIO opened at $0.69 on Wednesday. The firm has a market cap of $23.53 million, a PE ratio of -0.73 and a beta of 1.39. DarioHealth has a 1-year low of $0.63 and a 1-year high of $2.60. The company has a current ratio of 1.57, a quick ratio of 1.32 and a debt-to-equity ratio of 0.35. The stock has a 50-day moving average of $0.77 and a 200-day moving average of $0.90.

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

Institutional Investors Weigh In On DarioHealth

Several institutional investors and hedge funds have recently modified their holdings of DRIO. DLK Investment Management LLC boosted its position in DarioHealth by 71.6% during the 3rd quarter. DLK Investment Management LLC now owns 100,550 shares of the company’s stock valued at $113,000 after acquiring an additional 41,943 shares in the last quarter. Appian Way Asset Management LP grew its position in DarioHealth by 2.5% during the 3rd 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. Finally, XTX Topco Ltd increased its position in shares of DarioHealth by 81.4% during the third 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. 33.39% of the stock is owned by hedge funds and other institutional investors.

About DarioHealth

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.