Aveanna Healthcare (NASDAQ:AVAH) Stock Price Down 8.3% – Here’s Why

Aveanna Healthcare Holdings Inc. (NASDAQ:AVAH)’s share price fell 8.3% during trading on Friday . The stock traded as low as $4.48 and last traded at $4.43. 63,129 shares changed hands during mid-day trading, a decline of 61% from the average session volume of 163,259 shares. The stock had previously closed at $4.83.

Wall Street Analyst Weigh In

Separately, Truist Financial decreased their price target on Aveanna Healthcare from $6.00 to $5.25 and set a “hold” rating on the stock in a research note on Monday, January 6th.

Aveanna Healthcare Stock Performance

The company has a 50 day moving average of $4.68 and a 200-day moving average of $5.04. The stock has a market cap of $818.33 million, a price-to-earnings ratio of -12.46 and a beta of 2.24.

Hedge Funds Weigh In On Aveanna Healthcare

Several hedge funds have recently bought and sold shares of AVAH. First Eagle Investment Management LLC acquired a new position in Aveanna Healthcare during the 4th quarter worth about $1,992,000. Jacobs Levy Equity Management Inc. raised its position in Aveanna Healthcare by 297.6% in the 3rd quarter. Jacobs Levy Equity Management Inc. now owns 355,340 shares of the company’s stock valued at $1,848,000 after purchasing an additional 265,969 shares in the last quarter. Millennium Management LLC raised its position in Aveanna Healthcare by 105.0% in the 4th quarter. Millennium Management LLC now owns 400,374 shares of the company’s stock valued at $1,830,000 after purchasing an additional 205,023 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. acquired a new stake in Aveanna Healthcare in the 3rd quarter valued at about $817,000. Finally, Swiss National Bank acquired a new stake in Aveanna Healthcare in the 4th quarter valued at about $434,000. Institutional investors and hedge funds own 87.96% of the company’s stock.

Aveanna Healthcare Company Profile

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.