Short Interest in INNEOVA Holdings Limited (NASDAQ:INEO) Expands By 279.4%

INNEOVA Holdings Limited (NASDAQ:INEO) saw a large growth in short interest in July. As of July 15th, there was short interest totaling 84,379 shares, a growth of 279.4% from the June 30th total of 22,241 shares. Based on an average daily trading volume, of 93,394 shares, the short-interest ratio is currently 0.9 days. Currently, 0.5% of the shares of the stock are short sold.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings reiterated a “sell (d)” rating on shares of INNEOVA in a research report on Wednesday, July 8th. One research analyst has rated the stock with a Sell rating, According to data from MarketBeat.com, INNEOVA currently has an average rating of “Sell”.

INNEOVA Stock Performance

INEO traded down $0.04 on Monday, reaching $0.68. The stock had a trading volume of 182,295 shares, compared to its average volume of 240,790. INNEOVA has a fifty-two week low of $0.44 and a fifty-two week high of $1.27. The firm has a 50-day moving average of $0.63 and a 200-day moving average of $0.58. The company has a debt-to-equity ratio of 0.25, a current ratio of 1.02 and a quick ratio of 0.58.

INNEOVA (NASDAQ:INEO) last issued its quarterly earnings results on Friday, May 15th. The company reported ($0.03) EPS for the quarter.

About INNEOVA

We are a Singapore-based provider of high-quality Original Equipment Manufacturer (“OEM”), third party branded and in-house branded replacement parts for motor vehicles and for non-vehicle combustion engines serving a number of industries. We distribute spare parts through operations primarily based in Singapore and global sales primarily generated from the Middle East and Asia. Through our On-Highway Business, we supply a wide range of genuine OEM and aftermarket parts for use in passenger and commercial vehicles bearing either the manufacturer’s brands or our in-house brands through SP Zone.