AdaptHealth (NASDAQ:AHCO) Shares Gap Down - Time to Sell?

AdaptHealth Corp. (NASDAQ:AHCO - Get Free Report)'s stock 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 changing hands.

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on AHCO. Truist Financial dropped their price target on AdaptHealth from $14.00 to $13.00 and set a "buy" rating on the stock in a research report on Monday, May 12th. Royal Bank Of Canada dropped their price target on AdaptHealth from $14.00 to $13.00 and set an "outperform" rating on the stock in a research report on Thursday, May 8th. Five analysts have rated the stock with a buy rating, According to MarketBeat, the stock has a consensus rating of "Buy" and a consensus target price of $13.40.

AdaptHealth Stock Performance

The company has a market capitalization of $1.24 billion, a price-to-earnings ratio of 16.14, a PEG ratio of 1.03 and a beta of 1.63. The stock has a 50-day moving average price of $8.96 and a 200-day moving average price of $9.40. The company has a debt-to-equity ratio of 1.25, a current ratio of 1.29 and a quick ratio of 1.07.

Institutional Trading of AdaptHealth

Several hedge funds have recently added to or reduced their stakes in the company. GAMMA Investing LLC raised its holdings 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 in the last quarter. Brooklyn Investment Group raised its holdings 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 in the last quarter. Y Intercept Hong Kong Ltd acquired a new position in AdaptHealth in the 1st quarter valued at $114,000. Guggenheim Capital LLC raised 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 acquiring an additional 1,525 shares in the last quarter. Finally, Vident Advisory LLC acquired a new position in AdaptHealth in the 1st quarter valued at $163,000. 82.67% of the stock is owned by institutional investors and hedge funds.

AdaptHealth Company Profile

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.

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