Innio (NASDAQ:INIO) Stock Falls 10.7% – What’s Next?
by Kim Johansen · The Markets DailyInnio N.V. (NASDAQ:INIO – Get Free Report)’s stock price dropped 10.7% during trading on Thursday. The stock traded as low as $15.09 and last traded at $15.0680. 1,536,356 shares were traded during trading, a decline of 68% from the average session volume of 4,840,034 shares. The stock had previously closed at $16.87.
Analysts Set New Price Targets
INIO has been the subject of several research analyst reports. Morgan Stanley decreased their price objective on shares of Innio from $47.00 to $40.00 and set an “overweight” rating for the company in a research note on Wednesday, October 14th. Zacks Research raised Innio to a “hold” rating in a report on Tuesday, June 30th. Bank of America started coverage on Innio in a research report on Monday, June 29th. They set a “buy” rating and a $46.00 target price on the stock. Weiss Ratings downgraded Innio from a “sell (d)” rating to a “sell (d-)” rating in a report on Wednesday, October 14th. Finally, Citigroup decreased their target price on Innio from $30.00 to $22.00 and set a “neutral” rating for the company in a research report on Monday, October 12th. One research analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating, three have assigned a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $38.40.
View Our Latest Analysis on INIO
Innio Stock Down 10.4%
The company has a quick ratio of 0.79, a current ratio of 1.25 and a debt-to-equity ratio of 11.90. The stock has a market capitalization of $11.33 billion and a price-to-earnings ratio of 188.88. The firm’s fifty day moving average is $20.35.
Innio (NASDAQ:INIO – Get Free Report) last announced its earnings results on Tuesday, July 28th. The company reported $0.08 EPS for the quarter, beating analysts’ consensus estimates of $0.05 by $0.03. The business had revenue of $937.70 million during the quarter. On average, equities analysts anticipate that Innio N.V. will post 0.37 earnings per share for the current fiscal year.
Institutional Inflows and Outflows
Several hedge funds and other institutional investors have recently bought and sold shares of the business. HBK Investments L P purchased a new position in Innio during the 2nd quarter worth $6,031,000. Junto Capital Management LP purchased a new stake in shares of Innio in the second quarter valued at about $26,193,000. Dragoneer Investment Group LLC purchased a new stake in shares of Innio in the second quarter valued at about $112,718,000. WINTON GROUP Ltd acquired a new stake in shares of Innio during the second quarter worth about $2,990,000. Finally, Squarepoint Ops LLC acquired a new stake in shares of Innio during the second quarter worth about $13,842,000.
About Innio
INNIO is an energy technology company that provides power-generation and gas-compression solutions for industrial, commercial and utility customers. Its portfolio includes Jenbacher gas engines and Waukesha engines, along with associated equipment, digital tools and long-term service offerings.
The company’s solutions are designed for applications including combined heat and power, distributed power generation, microgrids and gas compression. INNIO supports a range of fuel sources, including natural gas, biogas and hydrogen blends, helping customers produce electricity and useful heat while supporting grid reliability and energy-system flexibility.
INNIO was established in 2018 following the acquisition of GE’s Distributed Power business by Advent International.