InnovAge (NASDAQ:INNV) Stock Price Down 0.3% - Time to Sell?

InnovAge Holding Corp. (NASDAQ:INNV - Get Free Report)'s stock price was down 0.3% during trading on Monday . The stock traded as low as $3.33 and last traded at $3.48. Approximately 68,711 shares changed hands during mid-day trading, an increase of 50% from the average daily volume of 45,724 shares. The stock had previously closed at $3.49.

Analyst Ratings Changes

Separately, JPMorgan Chase & Co. reaffirmed an "underweight" rating and issued a $5.00 target price on shares of InnovAge in a research note on Tuesday, December 17th.

InnovAge Price Performance

The firm has a market cap of $435.49 million, a price-to-earnings ratio of -16.95 and a beta of 0.39. The company has a current ratio of 1.16, a quick ratio of 1.16 and a debt-to-equity ratio of 0.27. The stock's fifty day moving average price is $3.52 and its 200-day moving average price is $4.74.

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, equities research analysts forecast that InnovAge Holding Corp. will post -0.12 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the stock. SG Americas Securities LLC purchased a new position in shares of InnovAge during the 4th quarter worth approximately $43,000. Squarepoint Ops LLC purchased a new position in shares of InnovAge during the fourth quarter worth $68,000. Bank of America Corp DE grew its stake in shares of InnovAge by 42.4% in the fourth quarter. Bank of America Corp DE now owns 19,945 shares of the company's stock valued at $78,000 after buying an additional 5,936 shares in the last quarter. Barclays PLC raised its holdings in shares of InnovAge by 13.6% in the 4th quarter. Barclays PLC now owns 29,099 shares of the company's stock valued at $115,000 after buying an additional 3,485 shares during the period. Finally, BNP Paribas Financial Markets purchased a new position in InnovAge during the 4th quarter valued at about $123,000. Hedge funds and other institutional investors own 12.26% of the company's stock.

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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.