Stock News Update: Castlight Health (NYSE:CSLT)

Castlight Health (NYSE:CSLT) stock identified change of 36.93% away from 52-week low price and recently located move of -60.24% off 52-week high price. It has market worth of $239.7M . CSLT stock has been recorded 13.98% away from 50 day moving average and -39.94% away from 200 day moving average. Moving closer, we can see that shares have been trading 18.41% off 20-day moving average.

On Oct. 24, 2019, Castlight Health (NYSE:CSLT)  announced it has signed a thirty-month enterprise license agreement with Anthem, effective January 1, 2020. This agreement extends the relationship Anthem and Castlight first announced in November 2015 and expands Anthem’s use of Castlight’s core health navigation platform and technology.

This agreement renews the existing relationship for the Castlight-powered Engage health navigation app, including the deployment to more than one million National Account members in Anthem’s affiliated health plans, as well as the Castlight provider search and pricing technology. In addition, Castlight will provide Anthem with a new, non-exclusive license for some of Castlight’s underlying health navigation platform technology services, such as transparency and personalization.

We are pleased to solidify an extended technology relationship with Castlight Health to support the delivery of consumer engagement solutions, said Peter Haytaian, executive vice president, Commercial & Specialty Business Group at Anthem. We look forward to building on our success with Castlight as a part of the growth of Anthem’s digital platform and ecosystem.

This is the first time Castlight has licensed its platform services at this scale, demonstrating it can monetize its technology outside of its branded and white-labeled full-stack applications. The company intends to pursue similar relationships with other health plans and care provider entities as part of its long-term growth strategy.

 

Our expanded Anthem partnership illustrates the value of our health navigation technology and the extensibility of our platform to power other user experiences, said Maeve O’Meara, chief executive officer of Castlight Health. We are excited to drive more innovation across Anthem’s business lines and, ultimately, further leverage our platform services more broadly in the healthcare ecosystem.

The Technology sector company, Castlight Health noticed change of 3.12% to $1.65 along volume of 3289134 shares in recent session compared to an average volume of 605.96K. The stock observed return of 13.01% in 5 days trading activity. The stock was at 13.01% over one month performance. CSLT’s shares are at -44.44% for the quarter and driving a -26.67% return over the course of the past year and is now at -23.96% since this point in 2018.

The average volatility for the week at 7.51% and for month was at 6.76%. There are 145.27M shares outstanding and 102.98M shares are floated in market. Right now the stock beta is 1.57.

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