InnovAge (OTCMKTS:INNV) Trading Down 4.4% - Here's Why

Key Points

• InnovAge Holding Corp. experienced a stock price decline of 4.4%, trading at $4.08 after reaching a low of $4.02 on Wednesday.
• The company has a market capitalization of $545.45 million and a notable P/E ratio of -13.03.
• InnovAge provides a range of medical and ancillary services for seniors, managing its operations through the PACE approach.

Shares of InnovAge Holding Corp. (OTCMKTS:INNV - Get Free Report) dropped 4.4% on Wednesday . The company traded as low as $4.02 and last traded at $4.08. Approximately 25,065 shares changed hands during mid-day trading, a decline of 44% from the average daily volume of 45,012 shares. The stock had previously closed at $4.27.

InnovAge Price Performance

The stock has a 50 day moving average of $3.81 and a two-hundred day moving average of $3.58. The firm has a market capitalization of $675.48 million, a P/E ratio of -16.06 and a beta of 0.52. The company has a debt-to-equity ratio of 0.25, a quick ratio of 1.57 and a current ratio of 1.57.

InnovAge Company Profile

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.