DarioHealth (NASDAQ:DRIO) Releases Earnings Results, Misses Expectations By $0.33 EPS

DarioHealth (NASDAQ:DRIO) issued its earnings results on Thursday. The company reported ($2.96) EPS for the quarter, missing the consensus estimate of ($2.63) by ($0.33), Zacks reports. The business had revenue of $5.01 million during the quarter, compared to analyst estimates of $5.67 million. DarioHealth had a negative return on equity of 65.89% and a negative net margin of 162.73%.

DarioHealth Stock Down 13.5%

Shares of NASDAQ:DRIO traded down $1.59 on Thursday, reaching $10.16. The company had a trading volume of 27,444 shares, compared to its average volume of 34,491. The stock has a market capitalization of $23.11 million, a P/E ratio of -0.77 and a beta of 1.19. The stock has a 50-day moving average price of $12.57 and a 200 day moving average price of $12.76. DarioHealth has a twelve month low of $5.93 and a twelve month high of $31.00. The company has a quick ratio of 2.83, a current ratio of 3.30 and a debt-to-equity ratio of 0.48.

Institutional Investors Weigh In On DarioHealth

A hedge fund recently raised its stake in DarioHealth stock. XTX Topco Ltd increased its position in shares of DarioHealth Corp. (NASDAQ:DRIO) by 229.0% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 62,511 shares of the company’s stock after purchasing an additional 43,513 shares during the period. XTX Topco Ltd owned about 0.14% of DarioHealth worth $42,000 at the end of the most recent reporting period. 33.39% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

DRIO has been the topic of several research analyst reports. Wall Street Zen raised DarioHealth to a “sell” rating in a research note on Saturday, October 11th. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of DarioHealth in a research report on Wednesday, October 8th. Two analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, DarioHealth currently has an average rating of “Hold” and a consensus price target of $40.00.

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.