InnovAge (NASDAQ:INNV) Hits New 52-Week Low – Time to Sell?

InnovAge Holding Corp. (NASDAQ:INNV) reached a new 52-week low during trading on Thursday . The company traded as low as $3.12 and last traded at $3.36, with a volume of 110544 shares changing hands. The stock had previously closed at $3.69.

Analysts Set New Price Targets

A number of research firms have commented on INNV. KeyCorp assumed coverage on shares of InnovAge in a research report on Friday, October 11th. They set a “sector weight” rating on the stock. JPMorgan Chase & Co. restated an “underweight” rating and issued a $5.00 price target on shares of InnovAge in a report on Tuesday, December 17th.

InnovAge Stock Down 8.9 %

The business’s 50 day moving average is $4.04 and its 200 day moving average is $5.23. The company has a debt-to-equity ratio of 0.27, a current ratio of 1.21 and a quick ratio of 1.21.

InnovAge (NASDAQ:INNV) last announced its quarterly earnings data on Tuesday, February 4th. The company reported ($0.10) EPS for the quarter. InnovAge had a negative net margin of 2.03% and a negative return on equity of 5.68%. As a group, equities research analysts forecast that InnovAge Holding Corp. will post -0.06 EPS for the current fiscal year.

Institutional Trading of InnovAge

Institutional investors and hedge funds have recently bought and sold shares of the business. Renaissance Technologies LLC increased its holdings in shares of InnovAge by 3.1% during the 2nd quarter. Renaissance Technologies LLC now owns 136,400 shares of the company’s stock valued at $677,000 after purchasing an additional 4,100 shares in the last quarter. Charles Schwab Investment Management Inc. increased its holdings in InnovAge by 3.9% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 165,531 shares of the company’s stock worth $993,000 after acquiring an additional 6,153 shares in the last quarter. State Street Corp increased its holdings in InnovAge by 1.2% in the 3rd quarter. State Street Corp now owns 344,905 shares of the company’s stock worth $2,069,000 after acquiring an additional 4,218 shares in the last quarter. Barclays PLC increased its holdings in InnovAge by 289.0% in the 3rd quarter. Barclays PLC now owns 25,614 shares of the company’s stock worth $154,000 after acquiring an additional 19,029 shares in the last quarter. Finally, Geode Capital Management LLC increased its holdings in InnovAge by 5.5% in the 3rd quarter. Geode Capital Management LLC now owns 527,955 shares of the company’s stock worth $3,168,000 after acquiring an additional 27,304 shares in the last quarter. 12.26% of the stock is currently owned by institutional investors and hedge funds.

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.