Healthcare News

Aveanna Healthcare Holdings Inc. (NASDAQ:AVAH) Sees Large Decline in Short Interest


Aveanna Healthcare Holdings Inc. (NASDAQ:AVAH – Get Rating) saw a large drop in short interest during the month of December. As of December 15th, there was short interest totalling 1,780,000 shares, a drop of 18.7% from the November 30th total of 2,190,000 shares. Based on an average daily volume of 456,400 shares, the short-interest ratio is presently 3.9 days. Currently, 3.7% of the shares of the company are sold short.

Wall Street Analyst Weigh In

AVAH has been the subject of a number of recent research reports. Credit Suisse Group lowered shares of Aveanna Healthcare from an “outperform” rating to a “neutral” rating and reduced their price objective for the company from $5.50 to $2.00 in a research note on Thursday, November 17th. Stephens reduced their price objective on shares of Aveanna Healthcare from $2.25 to $1.50 and set an “equal weight” rating for the company in a research note on Friday, November 11th. Truist Financial reduced their price objective on shares of Aveanna Healthcare to $1.25 in a research note on Wednesday, November 16th. Finally, Royal Bank of Canada lowered shares of Aveanna Healthcare from an “outperform” rating to a “sector perform” rating and reduced their price objective for the company from $7.00 to $3.00 in a research note on Monday, November 21st. One investment analyst has rated the stock with a sell rating, five have issued a hold rating, two have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, Aveanna Healthcare has a consensus rating of “Hold” and an average target price of $3.25.

Aveanna Healthcare Stock Performance

Shares of AVAH traded up $0.10 during mid-day trading on Friday, reaching $0.78. 434,588 shares of the stock traded hands, compared to its average volume of 545,566. The firm has a fifty day moving average price of $0.93 and a 200 day moving average price of $1.63. The company has a quick ratio of 0.89, a current ratio of 0.89 and a debt-to-equity ratio of 5.63. Aveanna Healthcare has a 1 year low of $0.67 and a 1 year high of $7.53.

Aveanna Healthcare (NASDAQ:AVAH – Get Rating) last released its quarterly earnings results on Wednesday, November 9th. The company reported ($0.03) EPS for the quarter, missing analysts’ consensus estimates of $0.04 by ($0.07). Aveanna Healthcare had a negative net margin of 31.44% and a positive return on equity of 6.05%. The firm had revenue of $443.01 million for the quarter, compared to analysts’ expectations of $448.84 million. Equities analysts expect that Aveanna Healthcare will post 0.02 EPS for the current fiscal year.

Institutional Trading of Aveanna Healthcare

Hedge funds have recently made changes to their positions in the stock. Zurcher Kantonalbank Zurich Cantonalbank bought a new stake in shares of Aveanna Healthcare during the 2nd quarter worth $25,000. AE Wealth Management LLC bought a new stake in shares of Aveanna Healthcare during the 2nd quarter worth $31,000. BNP Paribas Arbitrage SNC bought a new stake in shares of Aveanna Healthcare during the 3rd quarter worth $33,000. SG Americas Securities LLC bought a new stake in shares of Aveanna Healthcare during the 2nd quarter worth $38,000. Finally, Balyasny Asset Management LLC lifted its holdings in shares of Aveanna Healthcare by 129.4% during the 3rd quarter. Balyasny Asset Management LLC now owns 32,181 shares of the company’s stock worth $48,000 after acquiring an additional 18,155 shares during the last quarter. 91.65% of the stock is owned by institutional investors.

About Aveanna Healthcare

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Aveanna Healthcare Holdings Inc, a diversified home care platform company, provides private duty nursing (PDN), adult home health and hospice, home-based pediatric therapy, and enteral nutrition 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.

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