InnovAge (OTCMKTS:INNV) Stock Price Passes Above Fifty Day Moving Average – Here’s Why

Shares of InnovAge Holding Corp. (OTCMKTS:INNV) crossed above its 50-day moving average during trading on Friday . The stock has a 50-day moving average of $5.99 and traded as high as $6.02. InnovAge shares last traded at $6.02, with a volume of 19,742 shares changing hands.

InnovAge Stock Performance

The firm’s fifty day simple moving average is $5.99 and its 200 day simple moving average is $5.21. The company has a debt-to-equity ratio of 0.25, a current ratio of 1.57 and a quick ratio of 1.57. The company has a market capitalization of $818.65 million, a price-to-earnings ratio of -25.08 and a beta of 0.39.

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

InnovAge Company Profile

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.