The stock of Adeptus Health Inc (NYSE:ADPT) gapped down by $13.55 today and has $7.59 target or 12.00% below today’s $8.63 share price. The 5 months technical chart setup indicates high risk for the $161.69M company. The gap down was reported on Nov, 3 by Barchart.com. If the $7.59 price target is reached, the company will be worth $19.40M less.
Gaps down are helpful for identifying a resistance level and to could also be used as a tradeable event. If traders are short the stock and it experiece gap down, then its usually advisable to hold the short for a bigger down move. Back-tests of such patterns show that two-thirds of the these patterns the stock performance worsens after the gap. The area gaps close 91% of the time, the breakaway gaps 1%, the continuation gaps 9% and the exhaustion gaps 64%. About 20.46 million shares traded hands or 3954.96% up from the average. Adeptus Health Inc (NYSE:ADPT) has declined 51.62% since March 31, 2016 and is downtrending. It has underperformed by 54.14% the S&P500.
Adeptus Health Inc (NYSE:ADPT) Ratings Coverage
Out of 5 analysts covering Adeptus Health (NYSE:ADPT), 5 rate it a “Buy”, 0 “Sell”, while 0 “Hold”. This means 100% are positive. Adeptus Health has been the topic of 11 analyst reports since August 3, 2015 according to StockzIntelligence Inc. On Friday, September 18 the stock rating was maintained by KeyBanc Capital Markets with “Overweight”. Dougherty & Company maintained Adeptus Health Inc (NYSE:ADPT) rating on Wednesday, November 18. Dougherty & Company has “Buy” rating and $62 price target. The firm earned “Market Outperform” rating on Wednesday, August 31 by JMP Securities. On Thursday, August 13 the stock rating was maintained by Piper Jaffray with “Overweight”. On Monday, August 3 the stock rating was initiated by Jefferies with “Buy”. Jefferies maintained the stock with “Buy” rating in Monday, July 11 report. RBC Capital Markets maintained the shares of ADPT in a report on Friday, July 24 with “Outperform” rating. The stock of Adeptus Health Inc (NYSE:ADPT) has “Outperform” rating given on Friday, October 23 by RBC Capital Markets.
According to Zacks Investment Research, “Adeptus Health, Inc. owns and operates First Choice Emergency Room, the network of independent freestanding emergency rooms in the United States. The Company provides emergency medical care to patients in Texas and Colorado. It has developed a facility design and infrastructure specifically tailored to the emergency care delivery system that combines staff, equipment and physical layout to deliver care. Adeptus Health Inc. is based in Lewisville, Texas.”
Insitutional Activity: The institutional sentiment increased to 1.96 in 2016 Q2. Its up 0.04, from 1.92 in 2016Q1. The ratio is positive, as 29 funds sold all Adeptus Health Inc shares owned while 25 reduced positions. 22 funds bought stakes while 84 increased positions. They now own 21.33 million shares or 18.77% more from 17.95 million shares in 2016Q1.
Price T Rowe Assoc Md owns 1.51M shares or 0.02% of their US portfolio. Kennedy Capital Mngmt last reported 292,502 shares in the company. American Grp holds 0% or 9,391 shares in its portfolio. Balyasny Asset Management Ltd Company accumulated 0.06% or 186,359 shares. Fred Alger Mgmt accumulated 0% or 80 shares. Springbok Management Limited Co last reported 0% of its portfolio in the stock. Morgan Stanley has 0% invested in the company for 60,667 shares. Clinton Inc has invested 0.04% of its portfolio in Adeptus Health Inc (NYSE:ADPT). Teachers Retirement Sys Of The State Of Kentucky last reported 4,300 shares in the company. Seven Eight Capital Ltd Limited Liability Company accumulated 0.13% or 7,201 shares. The Manitoba – Canada-based Great West Life Assurance Can has invested 0% in Adeptus Health Inc (NYSE:ADPT). Cortina Asset Mgmt Ltd Llc last reported 0.24% of its portfolio in the stock. Stevens Capital Mgmt Ltd Partnership owns 7,014 shares or 0.01% of their US portfolio. Monarch Prns Asset Mngmt Limited Com, a Massachusetts-based fund reported 4,220 shares. Tci Wealth Advisors last reported 24 shares in the company.
More notable recent Adeptus Health Inc (NYSE:ADPT) news were published by: Marketwatch.com which released: “Adeptus Health’s stock plummets as fears of a liquidity crunch prompts downgrade” on November 02, 2016, also Businesswire.com with their article: “ADPT STOCK LOSS ALERT: Rosen Law Firm Reminds Adeptus Health Inc. Investors of …” published on November 02, 2016, Prnewswire.com published: “Harwood Feffer LLP Announces Investigation of Adeptus Health Inc.” on October 31, 2016. More interesting news about Adeptus Health Inc (NYSE:ADPT) were released by: Schaeffersresearch.com and their article: “Analyst Downgrades: Gilead Sciences, Inc., Adeptus Health Inc, and Tableau …” published on November 02, 2016 as well as Globenewswire.com‘s news article titled: “SHAREHOLDER ALERT: Levi & Korsinsky, LLP Notifies Shareholders of Adeptus …” with publication date: October 31, 2016.
ADPT Company Profile
Adeptus Health Inc., incorporated on March 7, 2014, is a patient-centered healthcare company. The Firm is engaged in providing emergency medical care through a network of independent freestanding emergency rooms in the United States and partnerships with various healthcare systems. The Firm has approximately 80 freestanding facilities and over two licensed general hospitals. The Firm owns or operates facilities located in the Houston, Dallas/Fort Worth, San Antonio and Austin, Texas markets; Colorado Springs and Denver, Colorado markets, and Phoenix, Arizona market.
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