Innventure (NASDAQ:INV) Stock Price Up 15% – What’s Next?
by Danessa Lincoln · The Markets DailyInnventure, Inc. (NASDAQ:INV – Get Free Report)’s share price was up 15% during mid-day trading on Thursday . The stock traded as high as $4.16 and last traded at $4.13. Approximately 1,948,691 shares changed hands during mid-day trading, an increase of 25% from the average daily volume of 1,564,061 shares. The stock had previously closed at $3.59.
Analysts Set New Price Targets
Separately, Weiss Ratings reiterated a “sell (d-)” rating on shares of Innventure in a report on Monday, December 29th. Two investment analysts have rated the stock with a Strong Buy rating, two have assigned a Buy rating and one has issued a Sell rating to the company. According to MarketBeat, Innventure currently has an average rating of “Buy” and an average price target of $14.00.
Innventure Price Performance
The company’s fifty day moving average price is $4.46 and its two-hundred day moving average price is $4.66. The company has a quick ratio of 0.31, a current ratio of 0.39 and a debt-to-equity ratio of 0.07. The company has a market cap of $283.15 million, a price-to-earnings ratio of -2.77 and a beta of 0.10.
Innventure (NASDAQ:INV – Get Free Report) last posted its quarterly earnings data on Thursday, November 13th. The company reported ($0.51) EPS for the quarter, missing the consensus estimate of ($0.24) by ($0.27). Innventure had a negative net margin of 18,877.40% and a negative return on equity of 29.39%. The company had revenue of ($5.00) million during the quarter, compared to the consensus estimate of $1.98 million.
Insider Buying and Selling at Innventure
In other news, major shareholder We-Inn Llc sold 252,502 shares of the stock in a transaction that occurred on Thursday, December 18th. The stock was sold at an average price of $4.68, for a total value of $1,181,709.36. Following the completion of the sale, the insider owned 6,135,284 shares of the company’s stock, valued at approximately $28,713,129.12. This represents a 3.95% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider John Stewart Scott sold 452,668 shares of the stock in a transaction on Wednesday, November 26th. The shares were sold at an average price of $5.13, for a total transaction of $2,322,186.84. Following the completion of the sale, the insider owned 1,965,051 shares of the company’s stock, valued at approximately $10,080,711.63. This represents a 18.72% decrease in their position. The SEC filing for this sale provides additional information. In the last ninety days, insiders have purchased 58,786 shares of company stock valued at $244,245 and have sold 3,873,088 shares valued at $15,941,913. Insiders own 23.64% of the company’s stock.
Institutional Inflows and Outflows
Several large investors have recently bought and sold shares of the stock. Yorkville Advisors Global LP bought a new stake in shares of Innventure during the third quarter worth approximately $43,000. Fortis Capital Advisors LLC acquired a new stake in Innventure during the 2nd quarter worth approximately $52,000. Naviter Wealth LLC acquired a new stake in Innventure during the 2nd quarter worth approximately $141,000. Diametric Capital LP boosted its stake in Innventure by 144.3% in the 2nd quarter. Diametric Capital LP now owns 32,573 shares of the company’s stock valued at $156,000 after purchasing an additional 19,242 shares during the period. Finally, Jane Street Group LLC acquired a new position in Innventure in the 1st quarter valued at $172,000. 55.98% of the stock is owned by institutional investors.
About Innventure
Innventure Inc founds, funds and operates companies with a focus on transformative, sustainable technology solutions acquired or licensed from multinational corporations. Innventure Inc, formerly known as Learn CW Investment Corporation, is based in ORLANDO, Fla.