VSee Health (VSEE) stock surged on Tuesday after the telehealth technology company announced it had received its Authority to Operate (ATO) at the FedRAMP High level from the U.S. Department of Health and Human Services (HHS). With this authorization, other federal agencies can use the company’s platform where FedRAMP High is required.
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VSee Health noted that the benefits of its ATO include increased healthcare accessibility in remote locations and relief during medical surge events. This is due to its enterprise-grade encryption, HIPAA compliance, HIE interoperability, hybrid telehealth and in-person workflows, and rapid multi-site activation.
Dr. Milton Chen, CEO of VSee Health, said, “With FedRAMP High ATO, agencies can deploy VSee for secure, real-world patient care-anytime, anywhere. This is a major step in expanding our government partnerships and delivering resilient healthcare infrastructure when and where it’s needed most.”
VSee Health Stock Movement Today
VSee Health stock was up 285.43% in pre-market trading on Tuesday, following a slight dip yesterday. The stock was down 54.6% year-to-date and 62.35% over the past 12 months.
Today’s ATO news resulted in heavy trading for VSEE stock, as some 123 million shares changed hands as of this writing. For comparison, the company’s daily average trading volume is about 1.9 million units.
Is VSee Health Stock a Buy, Sell, or Hold?
Turning to Wall Street, analyst coverage of VSee Health is lacking. Fortunately, TipRanks’ AI analyst Spark has it covered. Spark rates VSEE stock as an Underperform (38) with a 50-cent price target. It cites “financial instability and the risk of Nasdaq delisting” as reasons for this stance.
