InnovAge (NASDAQ:INNV) Shares Gap Down to $4.83

InnovAge Holding Corp. (NASDAQ:INNVGet Free Report)’s stock price gapped down before the market opened on Friday . The stock had previously closed at $4.83, but opened at $4.51. InnovAge shares last traded at $4.51, with a volume of 1,181 shares.

Analyst Ratings Changes

Separately, JPMorgan Chase & Co. cut their price target on shares of InnovAge from $7.00 to $6.00 and set a “neutral” rating for the company in a report on Wednesday, March 13th.

Check Out Our Latest Stock Analysis on INNV

InnovAge Stock Down 0.6 %

The stock has a fifty day moving average of $4.20 and a 200-day moving average of $4.98. The firm has a market capitalization of $652.74 million, a price-to-earnings ratio of -20.00 and a beta of 0.35. The company has a current ratio of 1.25, a quick ratio of 1.25 and a debt-to-equity ratio of 0.25.

InnovAge (NASDAQ:INNVGet Free Report) last issued its quarterly earnings results on Tuesday, May 7th. The company reported ($0.04) earnings per share for the quarter, hitting analysts’ consensus estimates of ($0.04). InnovAge had a negative return on equity of 10.51% and a negative net margin of 4.16%. As a group, sell-side analysts expect that InnovAge Holding Corp. will post -0.17 EPS for the current year.

Institutional Inflows and Outflows

A hedge fund recently raised its stake in InnovAge stock. Kent Lake Capital LLC increased its position in InnovAge Holding Corp. (NASDAQ:INNVFree Report) by 20.5% in the third quarter, according to its most recent 13F filing with the SEC. The firm owned 1,402,323 shares of the company’s stock after purchasing an additional 238,551 shares during the period. InnovAge comprises about 3.2% of Kent Lake Capital LLC’s investment portfolio, making the stock its 13th biggest holding. Kent Lake Capital LLC owned 1.03% of InnovAge worth $8,400,000 at the end of the most recent reporting period. Hedge funds and other institutional investors own 12.26% of the company’s stock.

InnovAge Company Profile

(Get Free Report)

InnovAge Holding Corp. manages and provides a range of medical and ancillary services for seniors in need of care and support to live independently in their homes and communities. The company manages its business through Program of All-Inclusive Care for the Elderly (PACE) approach. It also offers in-home care services consisting of skilled, unskilled, and personal care; in-center services, such as primary care, physical therapy, occupational therapy, speech therapy, dental services, mental health and psychiatric services, meals, and activities; transportation to the PACE center and third-party medical appointments; and care management.

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