Innventure (NASDAQ:INV) Shares Up 8.9% Following Earnings Beat

Innventure, Inc. (NASDAQ:INV) shares rose 8.9% during trading on Thursday following a better than expected earnings announcement. The stock traded as high as $7.71 and last traded at $7.7880. Approximately 1,238,576 shares traded hands during mid-day trading, a decline of 35% from the average daily volume of 1,915,110 shares. The stock had previously closed at $7.15.

The company reported ($0.26) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.36) by $0.10. The firm had revenue of ($3.53) million during the quarter, compared to analyst estimates of $1.65 million. Innventure had a negative net margin of 5,225.19% and a negative return on equity of 35.91%.

Analyst Upgrades and Downgrades

INV has been the subject of a number of analyst reports. Northland Securities set a $8.00 target price on shares of Innventure in a research note on Thursday, January 22nd. Wall Street Zen upgraded Innventure from a “sell” rating to a “hold” rating in a report on Saturday. Finally, Weiss Ratings raised Innventure from a “sell (e+)” rating to a “sell (d-)” rating in a research report on Thursday, May 7th. One research analyst has rated the stock with a Sell rating, Based on data from MarketBeat, the stock has a consensus rating of “Sell” and an average target price of $8.00.

Insider Transactions at Innventure

In other Innventure news, Director Daniel J. Hennessy sold 582,139 shares of the firm’s stock in a transaction that occurred on Monday, April 20th. The stock was sold at an average price of $5.52, for a total value of $3,213,407.28. Following the completion of the sale, the director owned 182,358 shares of the company’s stock, valued at approximately $1,006,616.16. This trade represents a 76.15% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Insiders own 23.64% of the company’s stock.

Institutional Trading of Innventure

Hedge funds have recently bought and sold shares of the business. Police & Firemen s Retirement System of New Jersey bought a new stake in Innventure during the 4th quarter valued at $32,000. WESPAC Advisors LLC acquired a new position in shares of Innventure during the fourth quarter valued at about $42,000. Yorkville Advisors Global LP bought a new stake in shares of Innventure during the third quarter worth about $43,000. Diversify Advisory Services LLC acquired a new stake in shares of Innventure in the 4th quarter worth about $44,000. Finally, R Squared Ltd acquired a new stake in shares of Innventure in the 1st quarter worth about $51,000. Institutional investors and hedge funds own 55.98% of the company’s stock.

Innventure Stock Performance

The company’s 50-day moving average is $4.97 and its two-hundred day moving average is $4.28. The firm has a market cap of $538.07 million, a P/E ratio of -2.38 and a beta of 0.46. The company has a current ratio of 1.09, a quick ratio of 1.07 and a debt-to-equity ratio of 0.02.

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.