Aveanna Healthcare (NASDAQ:AVAH) Shares Up 4.5% – Should You Buy?

Shares of Aveanna Healthcare Holdings Inc. (NASDAQ:AVAH) shot up 4.5% during mid-day trading on Tuesday . The company traded as high as $5.30 and last traded at $5.29. 100,827 shares traded hands during trading, a decline of 46% from the average session volume of 186,476 shares. The stock had previously closed at $5.06.

Wall Street Analyst Weigh In

A number of equities analysts recently commented on AVAH shares. Royal Bank of Canada raised their price objective on shares of Aveanna Healthcare from $3.00 to $5.00 and gave the stock a “sector perform” rating in a research note on Friday, August 9th. UBS Group lifted their price target on Aveanna Healthcare from $1.70 to $2.80 and gave the company a “sell” rating in a report on Friday, August 9th. Finally, Deutsche Bank Aktiengesellschaft increased their price objective on Aveanna Healthcare from $3.00 to $5.00 and gave the stock a “buy” rating in a research note on Friday, August 9th.

Aveanna Healthcare Trading Up 4.5 %

The business’s 50-day simple moving average is $5.09 and its 200-day simple moving average is $3.59. The company has a market cap of $1.02 billion, a PE ratio of -8.43 and a beta of 2.12.

Aveanna Healthcare (NASDAQ:AVAH) last issued its earnings results on Thursday, August 8th. The company reported ($0.01) EPS for the quarter, beating analysts’ consensus estimates of ($0.04) by $0.03. The firm had revenue of $504.96 million during the quarter, compared to analysts’ expectations of $494.02 million. On average, research analysts predict that Aveanna Healthcare Holdings Inc. will post -0.09 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Aveanna Healthcare

A number of hedge funds have recently added to or reduced their stakes in AVAH. Creative Planning grew its position in Aveanna Healthcare by 21.3% in the third quarter. Creative Planning now owns 48,502 shares of the company’s stock worth $252,000 after acquiring an additional 8,502 shares in the last quarter. Bank of New York Mellon Corp boosted its holdings in Aveanna Healthcare by 6.6% in the second quarter. Bank of New York Mellon Corp now owns 149,761 shares of the company’s stock worth $413,000 after purchasing an additional 9,243 shares in the last quarter. Mackenzie Financial Corp increased its position in Aveanna Healthcare by 35.9% during the second quarter. Mackenzie Financial Corp now owns 45,674 shares of the company’s stock worth $126,000 after buying an additional 12,075 shares during the last quarter. Acadian Asset Management LLC raised its holdings in Aveanna Healthcare by 185.6% during the first quarter. Acadian Asset Management LLC now owns 29,385 shares of the company’s stock valued at $72,000 after buying an additional 19,096 shares in the last quarter. Finally, SG Americas Securities LLC acquired a new stake in shares of Aveanna Healthcare in the third quarter worth about $101,000. Institutional investors and hedge funds own 87.96% of the company’s stock.

About Aveanna Healthcare

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.