Inno Holdings Inc. (NASDAQ:INHD) Short Interest Up 1,744.1% in June
by Michael Walen · The Markets DailyInno Holdings Inc. (NASDAQ:INHD – Get Free Report) was the target of a significant increase in short interest in June. As of June 15th, there was short interest totaling 2,704,440 shares, an increase of 1,744.1% from the May 31st total of 146,651 shares. Currently, 107.4% of the company’s shares are short sold. Based on an average daily volume of 25,312,068 shares, the days-to-cover ratio is currently 0.1 days.
Inno Price Performance
Shares of NASDAQ INHD remained flat at $39.49 during trading on Thursday. The company has a market cap of $99.51 million, a P/E ratio of -0.26 and a beta of -2.80. The company’s 50-day simple moving average is $12.43 and its 200 day simple moving average is $21.38. Inno has a 1 year low of $1.01 and a 1 year high of $7,651.20.
Wall Street Analyst Weigh In
A number of research firms have issued reports on INHD. Weiss Ratings upgraded Inno from a “sell (e+)” rating to a “sell (d-)” rating in a report on Monday, June 8th. Wall Street Zen lowered shares of Inno from a “hold” rating to a “sell” rating in a research note on Saturday, February 28th. One equities research analyst has rated the stock with a Sell rating, According to MarketBeat, Inno has an average rating of “Sell”.
Check Out Our Latest Stock Report on INHD
Institutional Inflows and Outflows
Institutional investors have recently added to or reduced their stakes in the company. Geode Capital Management LLC boosted its holdings in Inno by 48.6% in the second quarter. Geode Capital Management LLC now owns 31,128 shares of the company’s stock worth $43,000 after acquiring an additional 10,177 shares in the last quarter. Virtu Financial LLC acquired a new stake in Inno in the fourth quarter valued at approximately $36,000. T3 Companies LLC bought a new stake in shares of Inno during the fourth quarter valued at approximately $41,000. Two Sigma Investments LP bought a new stake in shares of Inno during the third quarter valued at approximately $58,000. Finally, Jane Street Group LLC acquired a new position in shares of Inno during the fourth quarter worth approximately $75,000. 0.16% of the stock is owned by institutional investors and hedge funds.
Inno Company Profile
Inno Holdings Inc manufactures and sells cold-formed-steel members, castor cubes, mobile factories, and prefabricated homes in the United States. The company provides cold-formed steel framing and a mobile factory for off-site equipment rental, sales, service, and support. It serves in residential, commercial, industrial, and infrastructure projects. Inno Holdings Inc was founded in 2019 and is headquartered in Brookshire, Texas.