InnovAge (NASDAQ:INNV) Trading Down 4.4% – Time to Sell?

Shares of InnovAge Holding Corp. (NASDAQ:INNV) traded down 4.4% during mid-day trading on Thursday . The company traded as low as $4.57 and last traded at $4.61. 81,639 shares traded hands during mid-day trading, an increase of 18% from the average session volume of 69,451 shares. The stock had previously closed at $4.82.

Analysts Set New Price Targets

A number of equities analysts have issued reports on the stock. Weiss Ratings restated a “sell (d-)” rating on shares of InnovAge in a research report on Wednesday, October 8th. JPMorgan Chase & Co. assumed coverage on shares of InnovAge in a research report on Thursday, September 18th. They issued an “underweight” rating and a $5.00 price objective on the stock. Two investment analysts have rated the stock with a Sell rating, Based on data from MarketBeat, InnovAge currently has an average rating of “Sell” and a consensus price target of $5.00.

InnovAge Trading Down 4.4%

The company has a market capitalization of $625.48 million, a P/E ratio of -20.04 and a beta of 0.60. The stock’s 50 day moving average is $4.77 and its 200-day moving average is $4.06. The company has a debt-to-equity ratio of 0.27, a current ratio of 1.07 and a quick ratio of 1.07.

InnovAge (NASDAQ:INNV) last released its earnings results on Tuesday, September 9th. The company reported ($0.01) EPS for the quarter, beating analysts’ consensus estimates of ($0.02) by $0.01. The company had revenue of $221.42 million during the quarter, compared to analysts’ expectations of $219.80 million. InnovAge had a negative return on equity of 12.02% and a negative net margin of 3.55%. InnovAge has set its FY 2026 guidance at EPS. As a group, equities research analysts anticipate that InnovAge Holding Corp. will post -0.12 earnings per share for the current year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in INNV. Police & Firemen s Retirement System of New Jersey purchased a new position in shares of InnovAge in the 2nd quarter valued at approximately $32,000. State of Alaska Department of Revenue purchased a new stake in InnovAge in the third quarter worth about $33,000. Bank of America Corp DE increased its stake in shares of InnovAge by 42.4% during the fourth quarter. Bank of America Corp DE now owns 19,945 shares of the company’s stock valued at $78,000 after purchasing an additional 5,936 shares in the last quarter. Los Angeles Capital Management LLC bought a new position in shares of InnovAge during the second quarter valued at approximately $110,000. Finally, Jane Street Group LLC increased its stake in shares of InnovAge by 18.9% during the first quarter. Jane Street Group LLC now owns 46,827 shares of the company’s stock valued at $140,000 after purchasing an additional 7,429 shares in the last quarter. Hedge funds and other institutional investors own 12.26% of the company’s stock.

About InnovAge

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.