InnovAge (NASDAQ:INNV) Stock Price Up 5%

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

Analyst Ratings Changes

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

InnovAge Trading Down 0.2 %

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 business’s 50-day moving average is $4.42 and its two-hundred day moving average is $4.86.

InnovAge (NASDAQ:INNV) last issued its earnings results on Tuesday, May 7th. The company reported ($0.04) EPS for the quarter, hitting analysts’ consensus estimates of ($0.04). InnovAge had a negative net margin of 4.16% and a negative return on equity of 10.51%. The company had revenue of $193.07 million for the quarter, compared to the consensus estimate of $188.64 million. Equities analysts predict that InnovAge Holding Corp. will post -0.17 EPS for the current year.

Hedge Funds Weigh In On InnovAge

A hedge fund recently raised its stake in InnovAge stock. Kent Lake Capital LLC grew its stake in InnovAge Holding Corp. (NASDAQ:INNV) by 20.4% during the fourth quarter, according to its most recent 13F filing with the SEC. The firm owned 1,687,859 shares of the company’s stock after acquiring an additional 285,536 shares during the period. InnovAge comprises 3.9% of Kent Lake Capital LLC’s investment portfolio, making the stock its 7th biggest holding. Kent Lake Capital LLC owned approximately 1.24% of InnovAge worth $10,127,000 as of its most recent filing with the SEC. 12.26% of the stock is owned by institutional investors.

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 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.