Innio (NASDAQ:INIO) Hits New 1-Year Low – Here’s Why

Innio N.V. (NASDAQ:INIO) shares hit a new 52-week low during trading on Friday . The stock traded as low as $21.69 and last traded at $21.72, with a volume of 353441 shares traded. The stock had previously closed at $22.54.

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on the stock. Zacks Research upgraded shares of Innio to a “hold” rating in a research note on Tuesday, June 30th. Citigroup initiated coverage on Innio in a report on Monday, June 29th. They issued a “neutral” rating and a $42.00 price objective for the company. BNP Paribas Exane assumed coverage on Innio in a research report on Monday, June 29th. They issued an “outperform” rating and a $48.00 target price on the stock. Royal Bank Of Canada upgraded Innio from a “sector perform” rating to an “outperform” rating and dropped their target price for the stock from $39.00 to $35.00 in a report on Thursday, July 30th. Finally, The Goldman Sachs Group assumed coverage on Innio in a research report on Monday, June 29th. They set a “buy” rating and a $42.00 price target for the company. One investment analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and three have issued a Hold rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $42.90.

Innio Stock Performance

The firm’s 50-day moving average price is $29.74.

Innio (NASDAQ:INIO) last issued its earnings results on Tuesday, July 28th. The company reported $0.08 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.05 by $0.03. The firm 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 year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the business. Wellington Management Group LLP acquired a new position in shares of Innio during the 2nd quarter worth approximately $1,117,000. Troluce Capital Advisors LLC acquired a new stake in Innio during the 2nd quarter valued at $1,483,000. Readystate Asset Management LP acquired a new stake in Innio during the 2nd quarter valued at $3,975,000. Finally, Value Aligned Research Advisors LLC bought a new position in Innio during the second quarter worth $53,605,000.

Innio Company Profile

INNIO is a provider of energy solutions, offering reciprocating gas engines, power generation systems, and related services for distributed power generation and gas compression applications. Its portfolio is designed to support customers in industries such as utilities, data centers, agriculture, wastewater, and oil and gas, where reliable on-site power and efficiency are important.

The company is best known for its Jenbacher and Waukesha brands, which are used in engines and power systems that can run on natural gas, biogas, and other gaseous fuels.