InnovAge Holding Corp. (NASDAQ:INNV) Short Interest Down 8.8% in August

InnovAge Holding Corp. (NASDAQ:INNV - Get Free Report) saw a large decrease in short interest in August. As of August 15th, there was short interest totalling 356,800 shares, a decrease of 8.8% from the July 31st total of 391,300 shares. Currently, 1.7% of the shares of the company are short sold. Based on an average trading volume of 53,600 shares, the days-to-cover ratio is presently 6.7 days.

InnovAge Price Performance

INNV traded up $0.08 during trading on Monday, reaching $6.36. 36,800 shares of the company traded hands, compared to its average volume of 37,123. The firm has a fifty day simple moving average of $5.82 and a 200 day simple moving average of $4.94. InnovAge has a 12-month low of $3.52 and a 12-month high of $7.73. The company has a debt-to-equity ratio of 0.25, a quick ratio of 1.25 and a current ratio of 1.25. The company has a market cap of $864.90 million, a P/E ratio of -26.50 and a beta of 0.39.

Institutional Trading of InnovAge

A number of institutional investors have recently bought and sold shares of INNV. Vanguard Group Inc. increased its stake in shares of InnovAge by 0.7% during the first quarter. Vanguard Group Inc. now owns 1,842,764 shares of the company's stock valued at $8,182,000 after buying an additional 13,193 shares during the period. Renaissance Technologies LLC increased its holdings in shares of InnovAge by 3.1% during the second quarter. Renaissance Technologies LLC now owns 136,400 shares of the company's stock valued at $677,000 after acquiring an additional 4,100 shares in the last quarter. Rhumbline Advisers increased its holdings in shares of InnovAge by 7.0% during the second quarter. Rhumbline Advisers now owns 27,503 shares of the company's stock valued at $136,000 after acquiring an additional 1,793 shares in the last quarter. Bank of New York Mellon Corp increased its holdings in shares of InnovAge by 27.1% during the second quarter. Bank of New York Mellon Corp now owns 58,322 shares of the company's stock valued at $289,000 after acquiring an additional 12,448 shares in the last quarter. Finally, Accordant Advisory Group Inc acquired a new position in InnovAge in the 2nd quarter worth approximately $496,000. 12.26% of the stock is currently owned by institutional investors.

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.