AdaptHealth (NASDAQ:AHCO) Stock Price Down 3.9% - What's Next?

AdaptHealth Corp. (NASDAQ:AHCO - Get Free Report) traded down 3.9% during trading on Wednesday . The stock traded as low as $9.31 and last traded at $9.16. 39,155 shares traded hands during trading, a decline of 97% from the average session volume of 1,324,900 shares. The stock had previously closed at $9.53.

Wall Street Analyst Weigh In

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

AdaptHealth Trading Down 3.8%

The business has a 50 day simple moving average of $8.89 and a 200-day simple moving average of $9.43. The company has a debt-to-equity ratio of 1.25, a current ratio of 1.29 and a quick ratio of 1.07. The stock has a market capitalization of $1.24 billion, a price-to-earnings ratio of 16.09, a PEG ratio of 1.07 and a beta of 1.63.

Institutional Trading of AdaptHealth

Several hedge funds have recently made changes to their positions in AHCO. Assetmark Inc. purchased a new position in AdaptHealth during the fourth quarter valued at $28,000. GAMMA Investing LLC increased its holdings in shares of AdaptHealth by 175.2% during the first 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 increased its holdings in shares of AdaptHealth by 531.8% during the first 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 bought a new position in shares of AdaptHealth during the first quarter valued at $114,000. Finally, Guggenheim Capital LLC increased its holdings in shares of AdaptHealth by 10.1% during the fourth 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. 82.67% of the stock is currently owned by institutional investors.

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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