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 $11,205,007 were sold by Everest Hill Group Inc. on Feb 06. At $20.75 per share, Everest Hill Group Inc. sold 540,000 shares. The insider’s holdings dropped to 12,805,008 shares worth approximately $193.74 million following the completion of this transaction.
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Also, Everest Hill Group Inc. sold 44,789 shares, netting a total of over 940,569 in proceeds. Following the sale of shares at $21.00 each, the insider now holds 13,345,008 shares.
Before that, Everest Hill Group Inc. had sold 55,211 shares from its account. In a trade valued at $1,159,431, the 9.9% owner traded AdaptHealth Corp. shares for $21.00 each. Upon closing the transaction, the insider’s holdings decreased to 55,211 shares, worth approximately $202.59 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 49.57% 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 Stock Performance
On Wednesday, AdaptHealth Corp. [NASDAQ: AHCO] plunged -5.38% to $15.13. The stock’s lowest price that day was $15.03, but it reached a high of $16.0699 in the same session. During the last five days, there has been a drop of approximately -32.67%. Over the course of the year, AdaptHealth Corp. shares have dropped approximately -21.28%. Shares of the company reached a 52-week high of $22.94 on 02/23/23 and a 52-week low of $15.03 on 03/01/23. A 50-day SMA is recorded $20.51, while a 200-day SMA reached $20.32. Nevertheless, trading volume fell to 3.02 million shares from 1.29 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 14.75, which, if violated, would cause prices to drop to 14.37. In the upper region, resistance lies at 15.79. The next price resistance is at 16.45. RSI (Relative Strength Index) is 21.63 on the 14-day chart, showing oversold technical sentiment. Moving Average Convergence Divergence (MACD) is at -3.16, which suggests the price will decrease in the coming days. Percent R is at 98.74%, indicating bearish price movement. Stochastics %K at holding indicates that the stock is to be held.
Is AdaptHealth Corp. subject to short interest?
Stocks of AdaptHealth Corp. saw a sharp steep in short interest on Jan 30, 2023 dropping by -1.36 million shares to 8.88 million. Data from Yahoo Finance shows that the short interest on Dec 29, 2022 was 10.24 million shares. A decline of -15.32% in short interest reflects a negative sentiment towards the stock. Despite the fact that short shares comprise just 14.59 of the overall float, the days-to-cover ratio (short ratio) decline to 14.59.
Which companies own the most shares of AdaptHealth Corp. (AHCO)?
According to BlackRock Fund Advisors filings, the company currently owns 11,061,792 shares, which is about 8.21% of the total AHCO shares outstanding. The investor’s shares have appreciated by 6,369,477 from its previous 13-F filing of 4692315.0 shares. With the completion of the buy transaction, The Vanguard Group, Inc.’s stake is now worth $173,454,163. Deerfield Management Co. LP reduced a -7.26% interest valued at $163.44 million while Fidelity Management & Research Co purchased a 563,629 stake. A total of 3,494,585 shares of AdaptHealth Corp. were bought by Truist Bank during the quarter, and 19,572 were bought by Rubric Capital Management LP. In its current portfolio, Nikko Asset Management Co., Ltd. holds 2,977,755 shares valued at $63.81 million.
In terms of AdaptHealth Corp. share price expectations, FactSet research, analysts set an average price target of $23.60 in the next 12 months, up nearly 43.84% from the previous closing price of $15.99. Analysts anticipate AdaptHealth Corp. stock to reach $29.00 by 2023, with the lowest price target being $18.00. In spite of this, 10 analysts ranked AdaptHealth Corp. stock as a Buy at the end of 2023. On January 26, 2021, BofA Securities assigned a price target of “a Buy” to the stock and initiated coverage with a $46.