Inno Holdings Inc. (NASDAQ:INHD) Short Interest Down 46.9% in May

Inno Holdings Inc. (NASDAQ:INHD) saw a significant drop in short interest during the month of May. As of May 29th, there was short interest totaling 146,651 shares, a drop of 46.9% from the May 14th total of 275,968 shares. Approximately 5.8% of the shares of the company are short sold. Based on an average daily trading volume, of 107,383 shares, the days-to-cover ratio is presently 1.4 days.

Inno Price Performance

Shares of NASDAQ INHD remained flat at $39.49 during mid-day trading on Tuesday. Inno has a 12 month low of $1.01 and a 12 month high of $7,651.20. The stock has a market capitalization 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 $7.31 and its 200 day simple moving average is $23.96.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the business. Virtu Financial LLC acquired a new position in Inno in the fourth quarter worth approximately $36,000. Jane Street Group LLC acquired a new position in Inno in the fourth quarter worth approximately $75,000. T3 Companies LLC acquired a new position in Inno in the fourth quarter worth approximately $41,000. Two Sigma Investments LP acquired a new position in Inno in the third quarter worth approximately $58,000. Finally, Geode Capital Management LLC grew its position 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 buying an additional 10,177 shares during the last quarter. Institutional investors and hedge funds own 0.16% of the company’s stock.

Analyst Ratings Changes

A number of research firms recently weighed in on INHD. Weiss Ratings raised Inno from a “sell (e+)” rating to a “sell (d-)” rating in a report on Monday, June 8th. Wall Street Zen lowered Inno from a “hold” rating to a “sell” rating in a report on Saturday, February 28th. One analyst has rated the stock with a Sell rating, According to MarketBeat, Inno currently has a consensus rating of “Sell”.

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.