InnovAge (OTCMKTS:INNV) Shares Down 4.6% – Here’s What Happened

InnovAge Holding Corp. (OTCMKTS:INNV) shares traded down 4.6% on Thursday . The company traded as low as $4.55 and last traded at $4.58. 28,264 shares changed hands during trading, a decline of 26% from the average session volume of 38,268 shares. The stock had previously closed at $4.80.

InnovAge Price Performance

The company’s 50-day simple moving average is $5.40 and its 200 day simple moving average is $5.53. The stock has a market capitalization of $601.42 million, a price-to-earnings ratio of -37.00 and a beta of 0.31. The company has a quick ratio of 1.57, a current ratio of 1.57 and a debt-to-equity ratio of 0.25.

InnovAge (OTCMKTS:INNV) last posted its quarterly earnings data on Tuesday, September 10th. The company reported ($0.01) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.02) by $0.01. The business had revenue of $199.40 million during the quarter, compared to the consensus estimate of $190.19 million. InnovAge had a negative net margin of 6.17% and a negative return on equity of 13.04%. Equities research analysts forecast that InnovAge Holding Corp. will post -0.25 EPS for the current year.

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.