InnovAge Holding Corp. (NASDAQ:INNV) Short Interest Down 18.8% in March

InnovAge Holding Corp. (NASDAQ:INNV - Get Free Report) was the target of a significant drop in short interest in the month of March. As of March 31st, there was short interest totalling 262,900 shares, a drop of 18.8% from the March 15th total of 323,900 shares. Based on an average trading volume of 62,100 shares, the short-interest ratio is currently 4.2 days. Approximately 1.3% of the company's stock are sold short.

Institutional Investors Weigh In On InnovAge

Several hedge funds have recently modified their holdings of the company. Barclays PLC boosted its holdings in shares of InnovAge by 13.6% during the 4th quarter. Barclays PLC now owns 29,099 shares of the company's stock valued at $115,000 after acquiring an additional 3,485 shares in the last quarter. State Street Corp raised its position in InnovAge by 1.2% during the 3rd quarter. State Street Corp now owns 344,905 shares of the company's stock worth $2,069,000 after purchasing an additional 4,218 shares during the last quarter. Bank of America Corp DE raised its position in InnovAge by 42.4% during the 4th quarter. Bank of America Corp DE now owns 19,945 shares of the company's stock worth $78,000 after purchasing an additional 5,936 shares during the last quarter. SG Americas Securities LLC bought a new position in InnovAge during the 4th quarter worth $43,000. Finally, Northern Trust Corp raised its position in InnovAge by 4.7% during the 4th quarter. Northern Trust Corp now owns 330,099 shares of the company's stock worth $1,297,000 after purchasing an additional 14,900 shares during the last quarter. Institutional investors and hedge funds own 12.26% of the company's stock.

InnovAge Stock Up 2.9 %

Shares of NASDAQ:INNV traded up $0.08 during midday trading on Wednesday, reaching $2.84. 684 shares of the company were exchanged, compared to its average volume of 52,278. The company has a quick ratio of 1.16, a current ratio of 1.16 and a debt-to-equity ratio of 0.27. InnovAge has a fifty-two week low of $2.60 and a fifty-two week high of $6.69. The stock has a fifty day simple moving average of $3.11 and a two-hundred day simple moving average of $4.10. The firm has a market cap of $384.09 million, a PE ratio of -14.95 and a beta of 0.41.

InnovAge (NASDAQ:INNV - Get Free Report) last released its quarterly earnings data on Tuesday, February 4th. The company reported ($0.10) earnings per share (EPS) for the quarter. InnovAge had a negative net margin of 3.19% and a negative return on equity of 9.45%. As a group, sell-side analysts forecast that InnovAge will post -0.12 earnings per share for the current year.

InnovAge Company Profile

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 its 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.