InnovAge (OTCMKTS:INNV) Stock Passes Above 50 Day Moving Average - What's Next?

Shares of InnovAge Holding Corp. (OTCMKTS:INNV - Get Free Report) crossed above its 50-day moving average during trading on Wednesday . The stock has a 50-day moving average of $5.93 and traded as high as $6.69. InnovAge shares last traded at $6.30, with a volume of 84,769 shares trading hands.

InnovAge Stock Down 3.8 %

The stock has a market capitalization of $821.11 million, a price-to-earnings ratio of -37.88 and a beta of 0.39. The company has a quick ratio of 1.57, a current ratio of 1.57 and a debt-to-equity ratio of 0.25. The firm has a 50-day moving average of $5.92 and a two-hundred day moving average of $5.37.

InnovAge (OTCMKTS:INNV - Get Free Report) last posted its quarterly earnings results on Tuesday, September 10th. The company reported ($0.01) earnings per share (EPS) for the quarter, topping analysts' consensus estimates of ($0.02) by $0.01. InnovAge had a negative net margin of 6.17% and a negative return on equity of 13.04%. The business had revenue of $199.40 million during the quarter, compared to analyst estimates of $190.19 million. As a group, sell-side analysts anticipate that InnovAge Holding Corp. will post -0.25 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 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.