Inno Holdings Inc. (NASDAQ:INHD) Sees Large Decline in Short Interest

Inno Holdings Inc. (NASDAQ:INHD) was the target of a significant decrease in short interest in the month of September. As of September 15th, there was short interest totaling 49,699 shares, a decrease of 54.4% from the August 31st total of 108,982 shares. Currently, 2.0% of the shares of the stock are short sold. Based on an average daily volume of 80,587 shares, the days-to-cover ratio is presently 0.6 days.

Wall Street Analyst Weigh In

Several equities analysts have commented on INHD shares. Weiss Ratings cut shares of Inno from a “sell (d-)” rating to a “sell (e+)” rating in a research note on Thursday, September 24th. Wall Street Zen raised Inno to a “sell” rating in a research note on Saturday, September 19th. One analyst has rated the stock with a Sell rating, According to MarketBeat.com, the company currently has a consensus rating of “Sell”.

Institutional Inflows and Outflows

An institutional investor recently bought a new position in Inno stock. T3 Companies LLC purchased a new stake in Inno Holdings Inc. (NASDAQ:INHD) during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 36,245 shares of the company’s stock, valued at approximately $41,000. T3 Companies LLC owned approximately 0.89% of Inno as of its most recent filing with the Securities and Exchange Commission (SEC). Hedge funds and other institutional investors own 0.16% of the company’s stock.

Inno Price Performance

Inno stock traded up $0.18 during midday trading on Tuesday, hitting $3.17. The company’s stock had a trading volume of 32,324 shares, compared to its average volume of 87,118. The stock’s 50-day moving average price is $11.32 and its 200-day moving average price is $16.03. Inno has a 12 month low of $1.01 and a 12 month high of $1,656.00.

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

About Inno

Inno Holdings Inc is a construction technology company focused on the design, development and manufacture of prefabricated modular buildings and related construction products. The company aims to provide alternatives to conventional construction through factory-produced building components and streamlined assembly processes.

Its offerings include modular residential structures, prefabricated homes and light-gauge steel framing systems. These products are intended for applications such as housing and other building projects, with an emphasis on reducing construction time and improving manufacturing efficiency.

Inno Holdings is headquartered in Austin, Texas.