InnovAge (NASDAQ:INNV) Sees Large Volume Increase – Should You Buy?

Shares of InnovAge Holding Corp. (NASDAQ:INNV) saw an uptick in trading volume on Thursday . 189,383 shares traded hands during mid-day trading, an increase of 272% from the previous session’s volume of 50,922 shares.The stock last traded at $4.87 and had previously closed at $3.99.

Analyst Upgrades and Downgrades

Several research firms have recently issued reports on INNV. Weiss Ratings restated a “sell (d-)” rating on shares of InnovAge in a report on Wednesday, October 8th. JPMorgan Chase & Co. initiated coverage on shares of InnovAge in a research note on Thursday, September 18th. They issued an “underweight” rating and a $5.00 price target on the stock. Two analysts have rated the stock with a Sell rating, According to MarketBeat.com, the stock presently has an average rating of “Sell” and a consensus target price of $5.00.

InnovAge Stock Up 22.0%

The company has a debt-to-equity ratio of 0.27, a quick ratio of 1.07 and a current ratio of 1.07. The business’s 50 day moving average is $4.83 and its 200 day moving average is $4.12. The company has a market capitalization of $660.36 million, a price-to-earnings ratio of -37.44 and a beta of 0.59.

InnovAge (NASDAQ:INNV) last posted its earnings results on Tuesday, November 4th. The company reported $0.06 earnings per share for the quarter, beating the consensus estimate of $0.01 by $0.05. The firm had revenue of $236.11 million during the quarter, compared to analyst estimates of $226.64 million. InnovAge had a negative net margin of 1.96% and a negative return on equity of 7.04%. InnovAge has set its FY 2026 guidance at EPS. Sell-side analysts anticipate that InnovAge Holding Corp. will post -0.12 earnings per share for the current year.

Institutional Inflows and Outflows

A number of large investors have recently bought and sold shares of INNV. Police & Firemen s Retirement System of New Jersey purchased a new stake in shares of InnovAge during the 2nd quarter worth $32,000. State of Alaska Department of Revenue purchased a new stake in shares of InnovAge during the 3rd quarter worth $33,000. Bank of America Corp DE boosted its position in shares of InnovAge by 42.4% during the 4th quarter. Bank of America Corp DE now owns 19,945 shares of the company’s stock worth $78,000 after purchasing an additional 5,936 shares in the last quarter. Los Angeles Capital Management LLC purchased a new stake in shares of InnovAge during the 2nd quarter worth $110,000. Finally, Jane Street Group LLC boosted its position in shares of InnovAge by 18.9% during the 1st quarter. Jane Street Group LLC now owns 46,827 shares of the company’s stock worth $140,000 after purchasing an additional 7,429 shares in the last quarter. Institutional investors and hedge funds 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.