Aveanna Healthcare (NASDAQ:AVAH) Sees Unusually-High Trading Volume - Should You Buy?

Key Points

• Aveanna Healthcare experienced a significant increase in trading volume, with approximately 531,291 shares exchanged, marking a 10% rise from the previous session.
• Analysts have mixed views on Aveanna Healthcare, with target prices ranging from $5.00 to $9.00, resulting in a consensus rating of "Moderate Buy."
• Insider trading activity showed major shareholders selling a combined 3.12 million shares at an average price of $5.36, resulting in a 5% decrease in their ownership stakes.

Aveanna Healthcare Holdings Inc. (NASDAQ:AVAH - Get Free Report) saw unusually-strong trading volume on Monday . Approximately 531,291 shares changed hands during trading, an increase of 10% from the previous session's volume of 484,024 shares.The stock last traded at $6.80 and had previously closed at $6.14.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on AVAH shares. UBS Group upped their price objective on Aveanna Healthcare from $4.50 to $5.00 and gave the stock a "sell" rating in a research report on Friday, May 9th. Jefferies Financial Group raised Aveanna Healthcare from a "hold" rating to a "buy" rating and dropped their target price for the company from $6.25 to $6.00 in a report on Monday, July 21st. Truist Financial dropped their target price on Aveanna Healthcare from $6.00 to $5.00 and set a "hold" rating on the stock in a report on Wednesday, July 16th. Raymond James Financial raised Aveanna Healthcare from a "market perform" rating to an "outperform" rating and set a $9.00 target price on the stock in a report on Monday. Finally, Wall Street Zen raised Aveanna Healthcare from a "buy" rating to a "strong-buy" rating in a report on Saturday. One research analyst has rated the stock with a sell rating, two have issued a hold rating, two have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $6.10.

Aveanna Healthcare Stock Up 11.1%

The firm has a fifty day simple moving average of $4.61 and a 200-day simple moving average of $4.79. The company has a market cap of $1.33 billion, a PE ratio of 85.08 and a beta of 1.95.

Insider Activity at Aveanna Healthcare

In other news, major shareholder Paul R. Vigano sold 1,560,700 shares of the stock in a transaction dated Monday, May 19th. The shares were sold at an average price of $5.36, for a total transaction of $8,365,352.00. Following the completion of the sale, the insider owned 29,640,756 shares in the company, valued at approximately $158,874,452.16. This represents a 5.00% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, major shareholder J.H. Whitney Equity Partners V sold 1,560,700 shares of the stock in a transaction dated Monday, May 19th. The stock was sold at an average price of $5.36, for a total transaction of $8,365,352.00. Following the sale, the insider owned 29,640,756 shares of the company's stock, valued at $158,874,452.16. This trade represents a 5.00% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 6,977,245 shares of company stock valued at $37,037,197. Corporate insiders own 7.80% of the company's stock.

Hedge Funds Weigh In On Aveanna Healthcare

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. Banque Transatlantique SA purchased a new position in Aveanna Healthcare in the first quarter valued at about $25,000. KLP Kapitalforvaltning AS purchased a new position in shares of Aveanna Healthcare during the 4th quarter worth approximately $35,000. BNP Paribas Financial Markets purchased a new position in shares of Aveanna Healthcare during the 4th quarter worth approximately $35,000. Tower Research Capital LLC TRC increased its stake in shares of Aveanna Healthcare by 662.2% during the 4th quarter. Tower Research Capital LLC TRC now owns 7,889 shares of the company's stock worth $36,000 after purchasing an additional 6,854 shares in the last quarter. Finally, Sagespring Wealth Partners LLC purchased a new position in shares of Aveanna Healthcare during the 4th quarter worth approximately $57,000. Institutional investors and hedge funds own 87.96% of the company's stock.

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.

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