InnovAge (NASDAQ:INNV) Trading 5% Higher

InnovAge Holding Corp. (NASDAQ:INNV)’s stock price shot up 5% during trading on Monday . The stock traded as high as $5.28 and last traded at $5.21. 4,747 shares traded hands during trading, a decline of 85% from the average session volume of 31,567 shares. The stock had previously closed at $4.96.

Analysts Set New Price Targets

Separately, JPMorgan Chase & Co. lowered their price objective on shares of InnovAge from $7.00 to $6.00 and set a “neutral” rating for the company in a research note on Wednesday, March 13th.

InnovAge Stock Up 16.9 %

The firm’s 50 day moving average price is $4.38 and its 200 day moving average price is $4.87. The company has a debt-to-equity ratio of 0.25, a quick ratio of 1.25 and a current ratio of 1.25.

InnovAge (NASDAQ:INNV) last issued its quarterly earnings data on Tuesday, May 7th. The company reported ($0.04) EPS for the quarter, meeting the consensus estimate of ($0.04). InnovAge had a negative net margin of 4.16% and a negative return on equity of 10.51%. The firm had revenue of $193.07 million during the quarter, compared to the consensus estimate of $188.64 million. On average, equities analysts anticipate that InnovAge Holding Corp. will post -0.17 earnings per share for the current year.

Hedge Funds Weigh In On InnovAge

A hedge fund recently raised its stake in InnovAge stock. Kent Lake Capital LLC boosted its holdings in InnovAge Holding Corp. (NASDAQ:INNV) by 3.7% during the first quarter, according to the company in its most recent disclosure with the SEC. The firm owned 1,750,000 shares of the company’s stock after purchasing an additional 62,141 shares during the quarter. InnovAge comprises 3.4% of Kent Lake Capital LLC’s portfolio, making the stock its 10th largest position. Kent Lake Capital LLC owned approximately 1.29% of InnovAge worth $7,770,000 as of its most recent SEC filing. 12.26% of the stock is 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.