Innio (NASDAQ:INIO) Shares Gap Up – What’s Next?

Innio N.V. (NASDAQ:INIO)’s share price gapped up before the market opened on Thursday . The stock had previously closed at $18.71, but opened at $21.04. Innio shares last traded at $19.3020, with a volume of 1,299,028 shares changing hands.

Wall Street Analyst Weigh In

INIO has been the subject of several recent research reports. BNP Paribas Exane assumed coverage on shares of Innio in a research report on Monday, June 29th. They set an “outperform” rating and a $48.00 target price for the company. Bank of America assumed coverage on Innio in a research note on Monday, June 29th. They set a “buy” rating and a $46.00 target price on the stock. Robert W. Baird set a $37.00 price target on shares of Innio in a research note on Wednesday, July 29th. UBS Group started coverage on shares of Innio in a report on Monday, June 29th. They issued a “buy” rating and a $47.00 target price for the company. Finally, Weiss Ratings started coverage on Innio in a research note on Monday, August 31st. They set a “sell (d)” rating on the stock. One equities research analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating, three have given a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, Innio presently has an average rating of “Moderate Buy” and an average target price of $42.90.

Innio Trading Up 6.7%

The business has a 50 day moving average price of $24.85.

Innio (NASDAQ:INIO) last issued its earnings results on Tuesday, July 28th. The company reported $0.08 earnings per share for the quarter, beating analysts’ consensus estimates of $0.05 by $0.03. The firm had revenue of $937.70 million for the quarter. Equities analysts forecast that Innio N.V. will post 0.37 EPS for the current year.

Institutional Investors Weigh In On Innio

A number of hedge funds have recently made changes to their positions in INIO. Dragoneer Investment Group LLC purchased a new stake in shares of Innio during the second quarter valued at about $112,718,000. Value Aligned Research Advisors LLC purchased a new position in Innio in the 2nd quarter worth $53,605,000. Junto Capital Management LP acquired a new stake in shares of Innio during the second quarter worth about $26,193,000. Squarepoint Ops LLC acquired a new stake in Innio during the 2nd quarter valued at approximately $13,842,000. Finally, HBK Investments L P purchased a new stake in Innio in the second quarter valued at $6,031,000.

Innio Company Profile

INNIO Group is an energy technology company that develops and provides power generation and gas compression solutions. Its principal product lines are marketed under the Jenbacher and Waukesha brands, which serve distributed power generation, combined heat and power, and industrial and commercial energy applications.

The company manufactures gas engines and related systems designed to operate on fuels including natural gas, biogas, landfill gas and hydrogen blends. Its offerings also include microgrid and energy-management solutions, aftermarket services, parts and maintenance, and digital monitoring through its myPlant platform.