Big changes are happening at Health Catalyst, Inc. (NASDAQ:HCAT), which makes the stock worth watching today. The company is among the top losers of the stock market today, sinking -1.84% or (-0.58 points) to $30.98 from its previous close of $31.56. Does this decline mean it the best stock to buy right now? The shares seem to have an active trading volume day with a reported 158390 contracts so far this session. HCAT shares had a relatively better volume day versus average trading capacity of 256.25 thousand shares, but with a 32.79 million float and a -1.07% run over a week, it’s definitely worth keeping an eye on. The one year price forecast for HCAT stock indicates that the average analyst price target is $49 per share. This means the stock has a potential increase of 58.17% from where the HCAT share price has been trading recently.
Looking at the current readings for Health Catalyst, Inc., the two-week RSI stands at 38.53. This figure suggests that HCAT stock, for now, is neutral, meaning that the shares are stable in terms of price movement. The stochastic readings, on the other hand, based on the current HCAT readings is similarly very revealing as it has a stochastic reading of 11.15% at this stage. This figure means that HCAT share price today is being overbought.
Technical chart claims that Health Catalyst, Inc. (HCAT) would settle between $32.39/share to $33.21/share level. However, if the stock price goes below the $30.79 mark, then the market for Health Catalyst, Inc. becomes much weaker. If that happens, the stock price might even plunge as low as $30.01 for its downside target. The stock is currently in the red zone of MACD, with the indicator reading -0.87. Traders are always alerted for the move of a stock above or below the zero line due to the fact that the reading is an indicator of the position of the short-term average relative to the long-term average. If the MACD is above the zero line, then the short-term average relative is above that of the long-term average, thus implying an upward momentum. Vice versa is the case if the MACD is below the zero line.
Analysts at Raymond James, assumed coverage of HCAT assigning Strong Buy rating, according to their opinion released on December 20. Cantor Fitzgerald, analysts launched coverage of Health Catalyst, Inc. (NASDAQ:HCAT) stock with a Overweight recommendation, according to their flash note issued to investors on October 30. Analysts at William Blair, made their first call for the equity with a Outperform recommendation, according to a research note that dated back to August 19.
HCAT equity has an average rating of 1.75, with the figure leaning towards a bullish end. 9 analysts who tracked the company were contacted by Reuters. Amongst them, 0 rated the stock as a hold while the remaining 9 were split even though not equally. Some analysts rate the stock as a buy or a strong buy while no rated it as a sell. 9 analysts rated Health Catalyst, Inc. (NASDAQ:HCAT) as a buy or a strong buy while not a single analyst advised that investors should desist from purchasing the stock or sell them if they already own the company’s stock.