Aveanna Healthcare (NASDAQ:AVAH) Shares Gap Up – Still a Buy?

Aveanna Healthcare Holdings Inc. (NASDAQ:AVAH) shares gapped up prior to trading on Wednesday . The stock had previously closed at $4.45, but opened at $4.61. Aveanna Healthcare shares last traded at $4.50, with a volume of 50,424 shares traded.

Analysts Set New Price Targets

Separately, Truist Financial decreased their target price on Aveanna Healthcare from $6.00 to $5.25 and set a “hold” rating for the company in a research note on Monday.

Aveanna Healthcare Stock Performance

The firm has a market capitalization of $875.31 million, a P/E ratio of -13.32 and a beta of 2.25. The firm has a 50 day moving average price of $5.13 and a two-hundred day moving average price of $4.72.

Aveanna Healthcare (NASDAQ:AVAH) last released its quarterly earnings results on Thursday, November 7th. The company reported $0.02 earnings per share for the quarter, beating analysts’ consensus estimates of ($0.01) by $0.03. The company had revenue of $509.02 million during the quarter, compared to analyst estimates of $495.80 million. During the same quarter last year, the business earned ($0.05) EPS. Equities research analysts forecast that Aveanna Healthcare Holdings Inc. will post -0.08 earnings per share for the current fiscal year.

Institutional Trading of Aveanna Healthcare

A number of hedge funds have recently made changes to their positions in the stock. Creative Planning boosted its position in Aveanna Healthcare by 21.3% during the third quarter. Creative Planning now owns 48,502 shares of the company’s stock valued at $252,000 after purchasing an additional 8,502 shares during the last quarter. Bank of New York Mellon Corp grew its stake in shares of Aveanna Healthcare by 6.6% in the 2nd quarter. Bank of New York Mellon Corp now owns 149,761 shares of the company’s stock valued at $413,000 after buying an additional 9,243 shares in the last quarter. State Street Corp increased its holdings in Aveanna Healthcare by 0.9% in the third quarter. State Street Corp now owns 1,039,920 shares of the company’s stock worth $5,408,000 after buying an additional 9,446 shares during the last quarter. Mackenzie Financial Corp grew its position in Aveanna Healthcare by 35.9% in the second quarter. Mackenzie Financial Corp now owns 45,674 shares of the company’s stock worth $126,000 after acquiring an additional 12,075 shares in the last quarter. Finally, Intech Investment Management LLC bought a new stake in Aveanna Healthcare in the third quarter worth $69,000. 87.96% of the stock is owned by hedge funds and other institutional investors.

About Aveanna Healthcare

Aveanna Healthcare Holdings Inc, a diversified home care platform company, provides pediatric and adult healthcare services in the United States. Its patient-centered care delivery platform allows patients to remain in their homes and minimizes the overutilization of high-cost care settings, such as hospitals or skilled nursing facilities.