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Can AdaptHealth Corp. (NASDAQ: AHCO) Be A Safe Investment Now?

AdaptHealth Corp. (NASDAQ:AHCO) shares, rose in value on Friday, May 26, with the stock price down by -0.85% to the previous day’s close as strong demand from buyers drove the stock to $10.48.

Actively observing the price movement in the last trading, the stock closed the session at $10.57, falling within a range of $10.47 and $10.655. The value of beta (5-year monthly) was 0.81 whereas the PE ratio was 36.26 over 12-month period. Referring to stock’s 52-week performance, its high was $27.48, and the low was $10.00. On the whole, AHCO has fluctuated by -10.81% over the past month.

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With the market capitalization of AdaptHealth Corp. currently standing at about $1.41 billion, investors are eagerly awaiting this quarter’s results, scheduled for Aug 07, 2023 – Aug 11, 2023. As a result, investors might want to see an improvement in the stock’s price before the company announces its earnings report. Analysts are projecting the company’s earnings per share (EPS) to be $0.1, which is expected to increase to $0.3 for fiscal year $0.76 and then to about $0.9 by fiscal year 2024. Data indicates that the EPS growth is expected to be 130.30% in 2024, while the next year’s EPS growth is forecast to be 18.40%.

Analysts have estimated the company’s revenue for the quarter at $765.8 million, with a low estimate of $761.8 million and a high estimate of $771.43 million. According to the average forecast, sales growth in current quarter could jump up 5.20%, compared to the corresponding quarter of last year. Wall Street analysts also predicted that in 2024, the company’s y-o-y revenues would reach $3.15 billion, representing an increase of 5.90% from the revenues reported in the last year’s results.

Revisions could be a useful indicator to get insight on short-term price movement; so for the company, there were no upward and no downward review(s) in last seven days. We see that AHCO’s technical picture suggests that short-term indicators denote the stock is a 100% Sell on average. However, medium term indicators have put the stock in the category of 100% Sell while long term indicators on average have been pointing out that it is a 100% Sell.

The stock’s technical analysis shows that the PEG ratio is about 1.22, with the price of AHCO currently trading nearly -6.39% and -12.96% away from the simple moving averages for 20 and 50 days respectively. The Relative Strength Index (RSI, 14) currently indicates a reading of 37.83, while the 7-day volatility ratio is showing 3.48% which for the 30-day chart, stands at 5.08%. Furthermore, AdaptHealth Corp. (AHCO)’s beta value is 0.64, and its average true range (ATR) is 0.54.

Data on historical trading for AdaptHealth Corp. (NASDAQ:AHCO) indicates that the trading volumes over the past 10 days have averaged 0.86 million and over the past 3 months, they’ve averaged 1.51 million. According to company’s latest data on outstanding shares, there are 134.53 million shares outstanding.

Nearly 0.70% of AdaptHealth Corp.’s shares belong to company insiders and institutional investors own 82.60% of the company’s shares. The data on short interest also indicates that stock shorts accounted for 11.64 million shares as on May 14, 2023, resulting in a short ratio of 8.23. According to the data, the short interest in AdaptHealth Corp. (AHCO) stood at 8.67% of shares outstanding as of May 14, 2023; the number of short shares registered in Apr 13, 2023 reached 13.28 million. The stock has fallen by -45.47% since the beginning of the year, thereby showing the potential of a further growth. This could raise investors’ confidence to be optimistic about the AHCO stock heading into the next quarter.

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