InnovAge Holding Corp. (NASDAQ:INNV - Get Free Report)'s stock price hit a new 52-week low during trading on Thursday . The company traded as low as $3.12 and last traded at $3.36, with a volume of 110544 shares changing hands. The stock had previously closed at $3.69.
Analyst Upgrades and Downgrades
Separately, JPMorgan Chase & Co. reiterated an "underweight" rating and set a $5.00 target price on shares of InnovAge in a research report on Tuesday, December 17th.
Check Out Our Latest Analysis on INNV
InnovAge Trading Up 2.2 %
The company has a debt-to-equity ratio of 0.27, a quick ratio of 1.21 and a current ratio of 1.16. The firm's 50-day moving average price is $3.98 and its 200 day moving average price is $5.19.
InnovAge (NASDAQ:INNV - Get Free Report) last posted its earnings results on Tuesday, February 4th. The company reported ($0.10) 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, analysts anticipate that InnovAge Holding Corp. will post -0.09 EPS for the current year.
Hedge Funds Weigh In On InnovAge
A number of hedge funds have recently added to or reduced their stakes in the company. SG Americas Securities LLC bought a new position in InnovAge in the fourth quarter worth $43,000. JPMorgan Chase & Co. grew its stake in shares of InnovAge by 191.5% during the third quarter. JPMorgan Chase & Co. now owns 24,687 shares of the company's stock valued at $148,000 after purchasing an additional 16,217 shares during the last quarter. Barclays PLC raised its position in shares of InnovAge by 289.0% during the third quarter. Barclays PLC now owns 25,614 shares of the company's stock worth $154,000 after acquiring an additional 19,029 shares during the last quarter. Geode Capital Management LLC boosted its stake in shares of InnovAge by 5.5% in the 3rd quarter. Geode Capital Management LLC now owns 527,955 shares of the company's stock valued at $3,168,000 after purchasing an additional 27,304 shares during the last quarter. Finally, State Street Corp grew its holdings 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 acquiring an additional 4,218 shares during the period. Institutional investors and hedge funds own 12.26% of the company's stock.
About InnovAge
(
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 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.
Further Reading
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