InnovAge (NASDAQ:INNV) Trading Up 7.1%

Shares of InnovAge Holding Corp. (NASDAQ:INNV) shot up 7.1% during mid-day trading on Friday . The company traded as high as $5.79 and last traded at $5.74. 27,864 shares changed hands during mid-day trading, a decline of 16% from the average session volume of 33,067 shares. The stock had previously closed at $5.36.

InnovAge Stock Up 6.7 %

The company has a 50 day simple moving average of $4.61 and a two-hundred day simple moving average of $4.86. The company has a quick ratio of 1.25, a current ratio of 1.25 and a debt-to-equity ratio of 0.25.

InnovAge (NASDAQ:INNV) last posted its earnings results on Tuesday, May 7th. The company reported ($0.04) earnings per share for the quarter, meeting 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 firm had revenue of $193.07 million during the quarter, compared to analyst estimates of $188.64 million. On average, sell-side analysts expect that InnovAge Holding Corp. will post -0.17 EPS for the current fiscal year.

Institutional Inflows and Outflows

An institutional investor recently raised its position in InnovAge stock. Kent Lake Capital LLC increased its position in shares of InnovAge Holding Corp. (NASDAQ:INNV) by 3.7% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 1,750,000 shares of the company’s stock after purchasing an additional 62,141 shares during the period. InnovAge makes up 3.4% of Kent Lake Capital LLC’s portfolio, making the stock its 10th largest holding. Kent Lake Capital LLC owned about 1.29% of InnovAge worth $7,770,000 at the end of the most recent quarter. 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 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.