Short Interest in Aveanna Healthcare Holdings Inc. (NASDAQ:AVAH) Drops By 29.2%

Aveanna Healthcare Holdings Inc. (NASDAQ:AVAH – Get Rating) saw a large decline in short interest during the month of March. As of March 31st, there was short interest totalling 1,670,000 shares, a decline of 29.2% from the March 15th total of 2,360,000 shares. Based on an average trading volume of 535,000 shares, the short-interest ratio is presently 3.1 days. Approximately 3.5% of the company’s shares are sold short.

Several hedge funds and other institutional investors have recently modified their holdings of AVAH. Morgan Stanley purchased a new stake in Aveanna Healthcare during the second quarter valued at approximately $266,000. Strs Ohio increased its position in Aveanna Healthcare by 478.7% during the 3rd quarter. Strs Ohio now owns 51,500 shares of the company’s stock valued at $413,000 after purchasing an additional 42,600 shares during the period. SG Americas Securities LLC purchased a new position in Aveanna Healthcare in the third quarter worth $115,000. Los Angeles Capital Management LLC purchased a new position in Aveanna Healthcare in the third quarter worth $422,000. Finally, Summit Global Investments acquired a new stake in shares of Aveanna Healthcare during the third quarter worth $1,365,000. Hedge funds and other institutional investors own 67.39% of the company’s stock.

AVAH has been the topic of several recent research reports. Stephens lowered their target price on shares of Aveanna Healthcare from $11.50 to $7.00 and set an “overweight” rating on the stock in a report on Wednesday, March 30th. Royal Bank of Canada cut their price target on shares of Aveanna Healthcare from $16.00 to $9.00 and set an “outperform” rating on the stock in a report on Thursday, March 31st. Credit Suisse Group decreased their target price on shares of Aveanna Healthcare from $12.00 to $9.50 and set an “outperform” rating on the stock in a report on Wednesday, March 30th. Bank of America lowered shares of Aveanna Healthcare from a “buy” rating to a “neutral” rating and decreased their price objective for the stock from $10.00 to $5.50 in a report on Tuesday, March 29th. Finally, Barclays dropped their price objective on shares of Aveanna Healthcare from $16.00 to $7.00 and set an “overweight” rating on the stock in a report on Wednesday, March 30th. Three equities research analysts have rated the stock with a hold rating, eight have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Buy” and an average target price of $8.90.

NASDAQ:AVAH opened at $3.10 on Tuesday. The firm has a 50-day moving average price of $4.58 and a two-hundred day moving average price of $6.10. The company has a debt-to-equity ratio of 1.93, a quick ratio of 0.81 and a current ratio of 0.81. Aveanna Healthcare has a 52 week low of $2.95 and a 52 week high of $13.00. The firm has a market cap of $572.67 million and a price-to-earnings ratio of -5.00.

Aveanna Healthcare (NASDAQ:AVAH – Get Rating) last posted its quarterly earnings data on Monday, March 28th. The company reported $0.10 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.11 by ($0.01). Aveanna Healthcare had a positive return on equity of 11.03% and a negative net margin of 6.97%. As a group, sell-side analysts forecast that Aveanna Healthcare will post 0.4 earnings per share for the current year.

Aveanna Healthcare Company Profile (Get Rating)

Aveanna Healthcare Holdings Inc, a diversified home care platform company, provides private duty nursing (PDN), adult home health and hospice, home-based pediatric therapy, and enteral nutrition 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.

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