Aveanna Healthcare (NASDAQ:AVAH) Shares Gap Up – Still a Buy?

Aveanna Healthcare Holdings Inc. (NASDAQ:AVAH) gapped up prior to trading on Wednesday . The stock had previously closed at $4.45, but opened at $4.61. Aveanna Healthcare shares last traded at $4.50, with a volume of 50,424 shares.

Analyst Upgrades and Downgrades

Separately, Truist Financial reduced their price objective on shares of Aveanna Healthcare from $6.00 to $5.25 and set a “hold” rating for the company in a research report on Monday.

Aveanna Healthcare Price Performance

The stock has a market capitalization of $881.11 million, a price-to-earnings ratio of -13.41 and a beta of 2.25. The stock has a 50 day moving average price of $5.13 and a 200-day moving average price of $4.72.

Aveanna Healthcare (NASDAQ:AVAH) last announced its earnings results on Thursday, November 7th. The company reported $0.02 earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.01) by $0.03. The business had revenue of $509.02 million for the quarter, compared to analyst estimates of $495.80 million. During the same period last year, the firm earned ($0.05) EPS. As a group, research analysts forecast that Aveanna Healthcare Holdings Inc. will post -0.08 earnings per share for the current year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the stock. Bank of New York Mellon Corp lifted its position in 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 worth $413,000 after buying an additional 9,243 shares in the last quarter. Acadian Asset Management LLC boosted its position in shares of Aveanna Healthcare by 176.6% during the 2nd quarter. Acadian Asset Management LLC now owns 81,275 shares of the company’s stock valued at $222,000 after acquiring an additional 51,890 shares during the last quarter. Renaissance Technologies LLC boosted its position in shares of Aveanna Healthcare by 155.8% during the 2nd quarter. Renaissance Technologies LLC now owns 158,600 shares of the company’s stock valued at $438,000 after acquiring an additional 96,600 shares during the last quarter. Mackenzie Financial Corp grew its holdings in shares of Aveanna Healthcare by 35.9% in the second quarter. Mackenzie Financial Corp now owns 45,674 shares of the company’s stock valued at $126,000 after purchasing an additional 12,075 shares during the period. Finally, SG Americas Securities LLC purchased a new position in Aveanna Healthcare during the third quarter worth about $101,000. 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.