Aveanna Healthcare (NASDAQ:AVAH) Trading Down 5%

Aveanna Healthcare Holdings Inc. (NASDAQ:AVAH) dropped 5% during trading on Thursday . The company traded as low as $5.28 and last traded at $5.31. Approximately 298,284 shares traded hands during trading, an increase of 70% from the average daily volume of 175,705 shares. The stock had previously closed at $5.59.

Analysts Set New Price Targets

A number of analysts recently issued reports on the company. Royal Bank of Canada raised their price target on Aveanna Healthcare from $3.00 to $5.00 and gave the stock a “sector perform” rating in a research report on Friday, August 9th. UBS Group raised their price target on Aveanna Healthcare from $1.70 to $2.80 and gave the stock a “sell” rating in a research report on Friday, August 9th. Finally, Deutsche Bank Aktiengesellschaft raised their price target on Aveanna Healthcare from $3.00 to $5.00 and gave the stock a “buy” rating in a research report on Friday, August 9th.

Aveanna Healthcare Price Performance

The firm has a market capitalization of $1.03 billion, a P/E ratio of -9.32 and a beta of 2.13. The firm has a 50-day moving average price of $4.89 and a two-hundred day moving average price of $3.37.

Aveanna Healthcare (NASDAQ:AVAH) last released its earnings results on Thursday, August 8th. The company reported ($0.01) earnings per share for the quarter, topping the consensus estimate of ($0.04) by $0.03. The business had revenue of $504.96 million for the quarter, compared to the consensus estimate of $494.02 million. Sell-side analysts predict 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 institutional investors have recently made changes to their positions in the company. Bank of New York Mellon Corp increased its stake in shares of Aveanna Healthcare by 6.6% during the second 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 during the period. Mackenzie Financial Corp increased its stake in shares of Aveanna Healthcare by 35.9% during the second quarter. Mackenzie Financial Corp now owns 45,674 shares of the company’s stock valued at $126,000 after buying an additional 12,075 shares during the period. Acadian Asset Management LLC increased its stake in shares of Aveanna Healthcare by 185.6% during the first quarter. Acadian Asset Management LLC now owns 29,385 shares of the company’s stock valued at $72,000 after buying an additional 19,096 shares during the period. Vanguard Group Inc. increased its stake in shares of Aveanna Healthcare by 1.8% during the first quarter. Vanguard Group Inc. now owns 2,571,251 shares of the company’s stock valued at $6,402,000 after buying an additional 44,970 shares during the period. Finally, Renaissance Technologies LLC increased its stake in shares of Aveanna Healthcare by 155.8% during the second quarter. Renaissance Technologies LLC now owns 158,600 shares of the company’s stock valued at $438,000 after buying an additional 96,600 shares during the period. Hedge funds and other institutional investors own 87.96% of the company’s stock.

Aveanna Healthcare Company Profile

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.