Inno (NASDAQ:INHD) Shares Down 6.7% – Should You Sell?

Inno Holdings Inc. (NASDAQ:INHD) traded down 6.7% on Monday . The company traded as low as $6.59 and last traded at $6.71. Approximately 76,630 shares changed hands during trading, a decline of 91% from the average session volume of 839,070 shares. The stock had previously closed at $7.19.

Analysts Set New Price Targets

Separately, Weiss Ratings cut Inno from a “sell (d-)” rating to a “sell (e+)” rating in a report on Monday, August 3rd. One research analyst has rated the stock with a Sell rating, Based on data from MarketBeat, the stock has a consensus rating of “Sell”.

Inno Trading Down 6.7%

The stock has a market capitalization of $16.91 million, a PE ratio of -0.05 and a beta of -23.70. The firm’s fifty day moving average price is $28.93 and its two-hundred day moving average price is $19.15.

Inno (NASDAQ:INHD) last announced its quarterly earnings results on Tuesday, August 18th. The company reported ($0.70) earnings per share (EPS) for the quarter. The firm had revenue of $2.07 million for the quarter. Inno had a negative return on equity of 9.47% and a negative net margin of 72.63%.

Institutional Investors Weigh In On Inno

A number of institutional investors have recently modified their holdings of the business. Virtu Financial LLC acquired a new position in Inno in the 4th quarter worth about $36,000. Jane Street Group LLC acquired a new stake in Inno in the fourth quarter valued at approximately $75,000. T3 Companies LLC purchased a new stake in shares of Inno in the fourth quarter valued at approximately $41,000. Two Sigma Investments LP purchased a new stake in shares of Inno in the third quarter valued at approximately $58,000. Finally, Geode Capital Management LLC raised its stake in shares of Inno by 48.6% during the 2nd 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 period. 0.16% of the stock is currently 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.