On February 07, 2022, shares of eHealth Inc. (EHTH) plunged further after hours while there is no official announcement or SEC filing.
EHTH stock lost 3.11% in the prior regular trading session at its closing price of $18.41. The stock continued the fall into the after-hours to lose a further 5.49%. Hence, the stock was trading at $17.40 per share at an after-hours volume of 59.25K shares on Monday.
The internet-based health insurance agency services provider, eHealth Inc. was founded in 1997. Currently, the company’s 26.39 million outstanding shares trade at a market capitalization of $501.37 million.
What is Happening with EHTH?
On January 31, the company filed a current report on Form 8-K regarding the departure of a certain member of the company. Effective January 31, EHTH terminated its chief revenue officer, Timothy C. Hannan’s employment with the company. Furthermore, he was also removed from all his roles in the company’s wholly-owned subsidiaries. Robert S. Hurley was appointed as the interim CRO in place of Mr. Hannan. Previously, Mr. Hurley served with the company as an executive officer for over two decades before his retirement in March 2020.
Following the filing, the stock saw an upsurge in the after-market and premarket sessions but then EHTH entered a long downtrend. EHTH stock has since been falling down with a slight recovery on February 04. It seems some investors found the continuous downfall as an opportunity to buy the stock at a lower price. But the stock resumed its downfall the next day to fall well below its recent 52-week low of $18.16.
So far, the stock has lost 15.74% in the past three days and 27.80% year to date.
Other Developments
On January 26, the company released the results of a new survey on Covid-19 encompassing over 1000 Americans. According to the survey, most respondents claimed to have lost their confidence in the government over handling the pandemic crisis. Instead of increasing, their confidence has decreased two years into the pandemic. Moreover, almost 3 out of 10 reported having had problems in accessing Covid019 tests in the last six months.
On December 01, the company participated in the Evercore ISI 4TH annual HealthCONx Conference.
EHTH’s Financial Highlights
In Q3 2021, the company had a net loss of $53.0 million on revenue of $63.9 million. Comparatively, EHTH had a net loss of $14.5 million on revenue of $94.3 million in the year-ago period.
