InnovAge (OTCMKTS:INNV) Stock Price Crosses Above 50 Day Moving Average – Here’s What Happened

InnovAge Holding Corp. (OTCMKTS:INNV)’s share price passed above its 50-day moving average during trading on Wednesday . The stock has a 50-day moving average of $5.93 and traded as high as $6.69. InnovAge shares last traded at $6.30, with a volume of 84,769 shares trading hands.

InnovAge Stock Up 3.8 %

The company has a debt-to-equity ratio of 0.25, a quick ratio of 1.57 and a current ratio of 1.57. The firm’s 50-day simple moving average is $5.93 and its 200 day simple moving average is $5.37. The company has a market capitalization of $853.62 million, a PE ratio of -39.38 and a beta of 0.39.

InnovAge (OTCMKTS:INNV) last issued its quarterly earnings data on Tuesday, September 10th. The company reported ($0.01) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.02) by $0.01. InnovAge had a negative net margin of 6.17% and a negative return on equity of 13.04%. The business had revenue of $199.40 million during the quarter, compared to analysts’ expectations of $190.19 million. As a group, equities research analysts forecast that InnovAge Holding Corp. will post -0.25 earnings per share for the current year.

About InnovAge

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.