Health Insurance Innovations, Inc. (HIIQ): Puzzling Price Reaction

The stock of Health Insurance Innovations, Inc. (NASDAQ:HIIQ) has been Upgraded to Buy from Neutral by B. Riley FBR in its latest research note that was published on March 18. HIIQ was given a price target of$45 by B. Riley FBR, with other Wall Street analysts also giving their reports regarding the stock. B. Riley FBR analysts have downgraded their rating of HIIQ stock from Buy to Neutral in a separate flash note to investors on February 27. Analysts at Lake Street are sticking to their Buy recommendation. However, on October 31, they lifted target price for these shares to $75 from $51.Analysts at Lake Street, made their first call for the stock with a Buy rating, according to a research note that dated back to October 31.

Health’s stock is covered by 8 analysts, with 2 of them rating the stock as Buy. It has been deemed to have strong buy by 6 of the analysts, none of them have rated it as a Hold while none of them rated it as sell. The situation was different a month ago when the stock was rated as a Buy by only 2 analysts. 6 of them rated it as strong buy with none of them recommended investors to Hold on to the stock. Meanwhile, none analyst(s) rated it as a sell. The above data shows that HIIQ has an average analyst rating of 1.75.

Health Insurance Innovations, Inc., which has current market capitalization of above $309 Million, published its last quarter earnings on March 31, 2019. The company was able to amass $58.36 million in revenue. This figure is $20.02 million more than what analysts had expected which was $78.38 million. During the first quarter of the year, Health also recorded $0.71 earnings per share (EPS) which is $0.31 above the $0.4 estimated by Thomson Reuter’s analyst, leading to a surprise factor of 76.4%.

HIIQ surged by $2.08 during the normal trading session on Tuesday and reaching a high of $22.28 during the day while it closed the day at $22.04. The Health stock had a low trading volume of 1.20 million shares on that day, which is low compared to the average daily volume of 778.13M shares. HIIQ has also lost 5.04% of its value over the past 7 days. However, the stock has surged by 0.46% in the 3 months of the year. Over the past six months meanwhile, it has lost 43.80% while it has lost 17.55% year-on date. Let us now take a look at the stock’s potential support and resistance levels. The publicly traded company was seen to have slipped by -37.03% from its 3 months high price. However, taking another look at HIIQ will indicate that it is trading +20.63% away from its 90-day low. Looking at the bigger picture, the Health Insurance Innovations, Inc. stock has dropped by -65.09% from its 52-week high while it has surged by +20.63% from its 52-week low price.

On July 09, 2019 Kosloske Michael W, 10% Owner sold 52526 shares of the company. The average price for that transaction was $25.29 per share, which meant that Kosloske Michael W earned $1328383 selling the stocks. The sale was made public, with the document of the transaction filed with the SEC. Another insider trading occurred, with 10% Owner, Kosloske Michael W selling 77211 shares of this stock on July 05, 2019. The average selling price for the stock was $26.18 per share, with the sold stock accruing $2021384. Following this transaction, the 10% Owner Kosloske Michael W now holds 0 shares of the company, which is worth around $0.

Looking at the stock’s Technical analysis information over the past 50 days shows that its Raw Stochastic average stood at 17.45%. This figure is worse than the company’s 20-day Raw Stochastic average which currently stands at 48.67%. Over the past 20 days, Health’s Stochastic %K stood at 29.38% while its Stochastic %D was revealed to be 22.29%.