Aveanna Healthcare (NASDAQ:AVAH) Shares Gap Up - Here's What Happened

Aveanna Healthcare Holdings Inc. (NASDAQ:AVAH - Get Free Report)'s share price gapped up before the market opened on Monday . The stock had previously closed at $3.96, but opened at $4.26. Aveanna Healthcare shares last traded at $4.21, with a volume of 71,319 shares traded.

Analyst Upgrades and Downgrades

Several research firms recently weighed in on AVAH. Barclays began coverage on Aveanna Healthcare in a research report on Wednesday, July 2nd. They set an "equal weight" rating and a $5.50 target price on the stock. UBS Group raised their price objective on Aveanna Healthcare from $4.50 to $5.00 and gave the stock a "sell" rating in a research note on Friday, May 9th. Wall Street Zen downgraded Aveanna Healthcare from a "strong-buy" rating to a "buy" rating in a research note on Friday, June 27th. Jefferies Financial Group raised Aveanna Healthcare from a "hold" rating to a "buy" rating and decreased their price objective for the stock from $6.25 to $6.00 in a research note on Monday. Finally, Truist Financial decreased their price objective on Aveanna Healthcare from $6.00 to $5.00 and set a "hold" rating on the stock in a research note on Wednesday, July 16th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and three have given a buy rating to the company. According to data from MarketBeat, Aveanna Healthcare has a consensus rating of "Hold" and a consensus target price of $5.25.

Aveanna Healthcare Stock Down 3.2%

The company has a 50 day simple moving average of $4.91 and a two-hundred day simple moving average of $4.82. The company has a market capitalization of $770.61 million, a P/E ratio of 197.50 and a beta of 1.98.

Insider Activity

In related news, insider Patrick A. Cunningham sold 18,500 shares of the firm's stock in a transaction dated Friday, June 13th. The shares were sold at an average price of $4.93, for a total value of $91,205.00. Following the transaction, the insider directly owned 327,869 shares of the company's stock, valued at approximately $1,616,394.17. This trade represents a 5.34% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, major shareholder Robert M. Williams, Jr. sold 1,560,700 shares of the firm's 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 transaction, the insider directly owned 29,640,756 shares in the company, valued at $158,874,452.16. This represents a 5.00% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 7,115,345 shares of company stock worth $37,838,057 over the last 90 days. 7.80% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. Banque Transatlantique SA acquired a new stake in Aveanna Healthcare in the 1st quarter valued at about $25,000. KLP Kapitalforvaltning AS purchased a new position in Aveanna Healthcare during the fourth quarter worth approximately $35,000. BNP Paribas Financial Markets acquired a new position in Aveanna Healthcare during the fourth quarter worth $35,000. Tower Research Capital LLC TRC grew its holdings in Aveanna Healthcare by 662.2% in the 4th quarter. Tower Research Capital LLC TRC now owns 7,889 shares of the company's stock valued at $36,000 after buying 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 $57,000. 87.96% of the stock is owned by hedge funds and other institutional investors.

Aveanna Healthcare Company Profile

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.