InnovAge (OTCMKTS:INNV) Stock Price Down 5.7% - Here's Why

Key Points

• InnovAge Holding Corp.'s shares fell by 5.7%, trading at $4.78 and marking a significant drop in trading volume by 33% compared to its average.
• The company's financial ratios reflect a debt-to-equity ratio of 0.25, and both current and quick ratios at 1.57, indicating a relatively stable financial position.
• InnovAge specializes in providing a range of medical and ancillary services for seniors, following a Program of All-Inclusive Care for the Elderly (PACE) model to facilitate independent living.

Shares of InnovAge Holding Corp. (OTCMKTS:INNV - Get Free Report) traded down 5.7% during mid-day trading on Friday . The stock traded as low as $4.78 and last traded at $4.78. 30,680 shares changed hands during mid-day trading, a decline of 33% from the average session volume of 45,735 shares. The stock had previously closed at $5.07.

InnovAge Stock Performance

The company has a debt-to-equity ratio of 0.25, a quick ratio of 1.57 and a current ratio of 1.57. The firm's 50 day moving average is $3.90 and its 200-day moving average is $3.65. The firm has a market cap of $671.41 million, a price-to-earnings ratio of -15.97 and a beta of 0.52.

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.