InnovAge (OTCMKTS:INNV) Stock Crosses Below 50-Day Moving Average - Here's Why

Key Points

• InnovAge Holding Corp. (OTCMKTS:INNV) shares fell below their 50-day moving average of $3.97, reaching a low of $3.52 before last trading at $3.55.
• The company's market capitalization stands at $479.30 million with a P/E ratio of -11.45, indicating negative earnings.
• InnovAge utilizes the PACE approach to provide comprehensive medical and ancillary services aimed at helping seniors live independently.

Shares of InnovAge Holding Corp. (OTCMKTS:INNV - Get Free Report) passed below its fifty day moving average during trading on Wednesday . The stock has a fifty day moving average of $3.97 and traded as low as $3.52. InnovAge shares last traded at $3.55, with a volume of 34,177 shares.

InnovAge Trading Up 3.5%

The business's 50-day moving average price is $3.93 and its two-hundred day moving average price is $3.53. The company has a debt-to-equity ratio of 0.25, a current ratio of 1.57 and a quick ratio of 1.57. The firm has a market cap of $437.44 million, a price-to-earnings ratio of -10.45 and a beta of 0.51.

About InnovAge

InnovAge Holding Corp. manages and provides a range of medical and ancillary services for seniors in need of care and support to live independently in their homes and communities. The company manages its business through Program of All-Inclusive Care for the Elderly (PACE) approach. It also offers in-home care services consisting of skilled, unskilled, and personal care; in-center services, such as primary care, physical therapy, occupational therapy, speech therapy, dental services, mental health and psychiatric services, meals, and activities; transportation to the PACE center and third-party medical appointments; and care management.