There is no specific news today explaining why ModivCare Inc. (MODV) stock is down. However, the stock has been under pressure from recent events that may still be influencing its performance. On December 16, 2024, it was reported that Charles Schwab Investment Management Inc. reduced its stake in ModivCare by 16.7% during the third quarter, selling 29,579 shares. This move by a significant institutional investor likely raised concerns among other investors. Additionally, Jefferies Financial Group recently lowered its price target for ModivCare from $25.00 to $14.00, maintaining a "hold" rating, which may have negatively impacted investor sentiment.
ModivCare Inc. is currently trading at $14.32, down 9.94% from the previous close of $15.90. The stock opened at $15.65 and has reached a low of $14.32 so far today. Despite being just four hours into the trading day, the volume is relatively low at 143,347 shares, representing 49.73% of the average daily volume of 288,276 shares.