AdaptHealth Corp’s filing revealed that its 10% Owner Flynn James E unloaded Company’s shares for reported $1.23 million on Mar 12 ’24. In the deal valued at $10.70 per share,114,906 shares were sold. As a result of this transaction, Flynn James E now holds 11,528,863 shares worth roughly $119.9 million.
Then, Flynn James E sold 182,607 shares, generating $2,012,557 in total proceeds. Upon selling the shares at $11.02, the 10% Owner now owns 11,643,769 shares.
Before that, Flynn James E sold 52,487 shares. AdaptHealth Corp shares valued at $573,652 were divested by the 10% Owner at a price of $10.93 per share. As a result of the transaction, Flynn James E now holds 11,826,376 shares, worth roughly $122.99 million.
Jefferies downgraded its AdaptHealth Corp [AHCO] rating to a Hold from a a Buy in a research note published on January 08, 2024; the price target was decreased to $8 from $14.50. A number of analysts have revised their coverage, including BofA Securities’s analysts, who decreased its forecast for the stock in early November from “a Neutral” to “an Underperform”. Stifel also remained covering AHCO and has decreased its forecast on May 10, 2023 with a “Hold” recommendation from previously “Buy” rating. Deutsche Bank revised its rating on May 10, 2023. It rated AHCO as “a Hold” which previously was an “a Buy”.
Price Performance Review of AHCO
On Monday, AdaptHealth Corp [NASDAQ:AHCO] saw its stock fall -0.67% to $10.40. Over the last five days, the stock has lost -7.14%. AdaptHealth Corp shares have risen nearly 42.66% since the year began. Nevertheless, the stocks have fallen -14.26% over the past one year. While a 52-week high of $15.37 was reached on 03/28/24, a 52-week low of $6.37 was recorded on 01/17/24. SMA at 50 days reached $9.27, while 200 days put it at $9.55. A total of 0.64 million shares were traded, compared to the trading of 0.75 million shares in the previous session.
Levels Of Support And Resistance For AHCO Stock
The 24-hour chart illustrates a support level at 10.20, which if violated will result in even more drops to 9.99. On the upside, there is a resistance level at 10.72. A further resistance level may holdings at 11.04. The Relative Strength Index (RSI) on the 14-day chart is 50.53, which indicates neutral technical sentiment, while the Moving Average Convergence Divergence (MACD) stands at -0.51, which suggests price will go down in the next trading period. Percent R suggests that price movement has been bearish at 73.08%. Stochastics %K at 31.83% indicates the stock is a holding.
How much short interest is there in AdaptHealth Corp?
A steep rise in short interest was recorded in AdaptHealth Corp stocks on Mar 15, 2024, dropping by -0.94 million shares to a total of 8.29 million shares. Yahoo Finance data shows the prior-month short interest on Feb 15, 2024 was 9.23 million shares. There was a decline of -11.34%, which implies that there is a negative sentiment for the stock. In spite of short shares comprising just 7.98% of the overall stock float, the days-to-cover ratio (short ratio) fell to 5.54.
