The buying and selling of stock by a company’s insider give investors a sense that the stock will rise or fall in the future. AdaptHealth Corp. shares valued at $40,993 were sold by Williams David Solomon III on Aug 31. At $18.19 per share, Williams David Solomon III sold 2,254 shares. The insider’s holdings dropped to 16,085 shares worth approximately $0.33 million following the completion of this transaction.
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Also, JOYCE CHRISTOPHER J sold 100,000 shares, netting a total of over 2,219,530 in proceeds. Following the sale of shares at $22.20 each, the insider now holds 106,071 shares.
Before that, Everest Hill Group Inc. had sold 215,382 shares from its account. In a trade valued at $5,061,477, the 10% Owner traded AdaptHealth Corp. shares for $23.50 each. Upon closing the transaction, the insider’s holdings decreased to 215,382 shares, worth approximately $308.14 million.
As published in their initiating research note from SVB Leerink on September 27, 2021, AdaptHealth Corp. [AHCO] has been an Outperform and the price target has been revised to $30. This represents a 32.07% premium over Wednesday’s closing price. Analysts at Robert W. Baird upgraded the stock from ‘”a Neutral”‘ to ‘”an Outperform”‘ outlook in a report released in mid July. As of April 13, 2021, Robert W. Baird has decreased its “an Outperform” rating to a “Neutral” for AHCO. Earlier on March 18, 2021, Truist initiated its rating. Their recommendation was “a Buy” for AHCO stock.
Analyzing AHCO’s Price Performance
On Wednesday, AdaptHealth Corp. [NASDAQ: AHCO] plunged -6.13% to $20.38. The stock’s lowest price that day was $20.275, but it reached a high of $22.00 in the same session. During the last five days, there has been a surge of approximately 7.38%. Over the course of the year, AdaptHealth Corp. shares have dropped approximately -16.68%. Shares of the company reached a 52-week high of $27.48 on 08/03/22 and a 52-week low of $11.40 on 05/09/22. A 50-day SMA is recorded $20.96, while a 200-day SMA reached $18.62. Nevertheless, trading volume fell to 1.45 million shares from 1.33 million shares the previous day.
Support And Resistance Levels for AdaptHealth Corp. (AHCO)
According to the 24-hour chart, there is a support level at 19.77, which, if violated, would cause prices to drop to 19.16. In the upper region, resistance lies at 21.49. The next price resistance is at 22.61. RSI (Relative Strength Index) is 51.54 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at 1.99, which suggests the price will increase in the coming days. Percent R is at 38.62%, indicating low price movement. Stochastics %K at selling indicates that the stock is to be held.
Is AdaptHealth Corp. subject to short interest?
Stocks of AdaptHealth Corp. saw a sharp rise in short interest on Jul 14, 2022 jumping by 50000.0 shares to 5.83 million. Data from Yahoo Finance shows that the short interest on Jun 14, 2022 was 5.78 million shares. A jump of 0.86% in short interest reflects a positive sentiment towards the stock. Despite the fact that short shares comprise just 5.96 of the overall float, the days-to-cover ratio (short ratio) jumped to 5.96.
Which companies own the most shares of AdaptHealth Corp. (AHCO)?
According to Deerfield Management Co. LP filings, the company currently owns 11,150,797 shares, which is about 8.29% of the total AHCO shares outstanding. The investor’s shares have plunged by -499,275 from its previous 13-F filing of 11650072.0 shares. With the completion of the sale transaction, The Vanguard Group, Inc.’s stake is now worth $118,621,066. Fidelity Management & Research Co acquire a 19.78% interest valued at $103.55 million while BlackRock Fund Advisors purchased a 31,423 stake. A total of 300,837 shares of AdaptHealth Corp. were bought by Rubric Capital Management LP during the quarter, and 876,148 were bought by Nikko Asset Management Co., Ltd. In its current portfolio, Silvercrest Asset Management Grou holds 2,937,602 shares valued at $52.79 million.
In terms of AdaptHealth Corp. share price expectations, FactSet research, analysts set an average price target of $28.30 in the next 12 months, up nearly 28.97% from the previous closing price of $21.71. Analysts anticipate AdaptHealth Corp. stock to reach $35.00 by 2022, with the lowest price target being $24.00. In spite of this, 10 analysts ranked AdaptHealth Corp. stock as a Buy at the end of 2022. On January 26, 2021, BofA Securities assigned a price target of “a Buy” to the stock and initiated coverage with a $46.