Aveanna Healthcare (NASDAQ:AVAH) Stock Price Up 4.5% – Here’s What Happened

Aveanna Healthcare Holdings Inc. (NASDAQ:AVAH)’s stock price traded up 4.5% during mid-day trading on Tuesday . The company traded as high as $5.30 and last traded at $5.29. 100,827 shares traded hands during trading, a decline of 46% from the average session volume of 186,476 shares. The stock had previously closed at $5.06.

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on AVAH shares. UBS Group increased their target price on Aveanna Healthcare from $1.70 to $2.80 and gave the stock a “sell” rating in a research report on Friday, August 9th. Deutsche Bank Aktiengesellschaft lifted their price objective on shares of Aveanna Healthcare from $3.00 to $5.00 and gave the company a “buy” rating in a research report on Friday, August 9th. Finally, Royal Bank of Canada upped their target price on shares of Aveanna Healthcare from $3.00 to $5.00 and gave the stock a “sector perform” rating in a research report on Friday, August 9th.

Aveanna Healthcare Stock Up 4.5 %

The company has a market cap of $1.02 billion, a P/E ratio of -8.43 and a beta of 2.12. The company has a 50 day moving average price of $5.09 and a 200-day moving average price of $3.59.

Aveanna Healthcare (NASDAQ:AVAH) last announced its earnings results on Thursday, August 8th. The company reported ($0.01) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.04) by $0.03. The company had revenue of $504.96 million during the quarter, compared to the consensus estimate of $494.02 million. On average, research analysts expect that Aveanna Healthcare Holdings Inc. will post -0.09 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Aveanna Healthcare

Several hedge funds have recently modified their holdings of AVAH. Creative Planning boosted its stake 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 buying an additional 8,502 shares in the last quarter. SG Americas Securities LLC bought a new position in shares of Aveanna Healthcare during the 3rd quarter valued at about $101,000. Mackenzie Financial Corp grew its stake in shares of Aveanna Healthcare by 35.9% in the 2nd quarter. Mackenzie Financial Corp now owns 45,674 shares of the company’s stock worth $126,000 after purchasing an additional 12,075 shares during the last quarter. Renaissance Technologies LLC raised its holdings in shares of Aveanna Healthcare by 155.8% in the 2nd quarter. Renaissance Technologies LLC now owns 158,600 shares of the company’s stock worth $438,000 after purchasing an additional 96,600 shares in the last quarter. Finally, Acadian Asset Management LLC lifted its stake in Aveanna Healthcare by 176.6% during the second quarter. Acadian Asset Management LLC now owns 81,275 shares of the company’s stock valued at $222,000 after purchasing an additional 51,890 shares during the last quarter. 87.96% of the stock is currently owned by institutional investors and hedge funds.

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.