AdaptHealth (NASDAQ:AHCO) Shares Gap Down - Here's What Happened

AdaptHealth Corp. (NASDAQ:AHCO - Get Free Report)'s share price gapped down prior to trading on Thursday . The stock had previously closed at $9.13, but opened at $8.81. AdaptHealth shares last traded at $9.16, with a volume of 145,089 shares trading hands.

Analyst Upgrades and Downgrades

AHCO has been the subject of several research reports. Royal Bank Of Canada cut their price objective on AdaptHealth from $14.00 to $13.00 and set an "outperform" rating for the company in a research note on Thursday, May 8th. Truist Financial dropped their price objective on shares of AdaptHealth from $14.00 to $13.00 and set a "buy" rating for the company in a report on Monday, May 12th. Five analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, AdaptHealth currently has an average rating of "Buy" and a consensus target price of $13.40.

AdaptHealth Stock Performance

The stock has a market capitalization of $1.24 billion, a PE ratio of 16.15, a price-to-earnings-growth ratio of 1.07 and a beta of 1.63. The stock has a fifty day moving average of $8.99 and a 200-day moving average of $9.39. The company has a quick ratio of 1.07, a current ratio of 1.29 and a debt-to-equity ratio of 1.25.

Institutional Trading of AdaptHealth

A number of hedge funds and other institutional investors have recently made changes to their positions in the company. GAMMA Investing LLC increased its position in AdaptHealth by 175.2% in the 1st quarter. GAMMA Investing LLC now owns 7,473 shares of the company's stock valued at $81,000 after acquiring an additional 4,758 shares during the period. Brooklyn Investment Group increased its position in AdaptHealth by 531.8% in the 1st quarter. Brooklyn Investment Group now owns 7,563 shares of the company's stock valued at $82,000 after acquiring an additional 6,366 shares during the period. Y Intercept Hong Kong Ltd acquired a new position in AdaptHealth in the 1st quarter valued at about $114,000. Guggenheim Capital LLC boosted its holdings in AdaptHealth by 10.1% in the 4th quarter. Guggenheim Capital LLC now owns 16,613 shares of the company's stock valued at $158,000 after purchasing an additional 1,525 shares in the last quarter. Finally, Vident Advisory LLC purchased a new stake in AdaptHealth in the 1st quarter valued at approximately $163,000. Institutional investors and hedge funds own 82.67% of the company's stock.

About AdaptHealth

AdaptHealth Corp., together with its subsidiaries, sells home medical equipment (HME), medical supplies, and home and related services in the United States. The company provides sleep therapy equipment, supplies, and related services, such as CPAP and bi-PAP services to individuals suffering from obstructive sleep apnea; medical devices and supplies, including continuous glucose monitors and insulin pumps for the treatment of diabetes; HME to patients discharged from acute care and other facilities; oxygen and related chronic therapy services in the home; and other HME devices and supplies on behalf of chronically ill patients with wound care, urological, incontinence, ostomy, and nutritional supply needs.