Innio (NASDAQ:INIO) Posts Earnings Results, Beats Expectations By $0.04 EPS

Innio (NASDAQ:INIO) released its quarterly earnings data on Tuesday. The company reported $0.15 EPS for the quarter, beating analysts’ consensus estimates of $0.11 by $0.04, FiscalAI reports. The firm had revenue of $1.17 billion during the quarter.

Innio Stock Up 9.3%

Shares of NASDAQ:INIO opened at $16.63 on Tuesday. Innio has a 12 month low of $14.58 and a 12 month high of $42.95. The company has a current ratio of 1.25, a quick ratio of 0.79 and a debt-to-equity ratio of 11.90. The stock’s fifty day moving average is $19.99. The firm has a market capitalization of $12.47 billion and a price-to-earnings ratio of 207.87.

Hedge Funds Weigh In On Innio

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

Wall Street Analyst Weigh In

INIO has been the subject of a number of research analyst reports. Bank of America initiated coverage on Innio in a research note on Monday, June 29th. They issued a “buy” rating and a $46.00 target price for the company. Citigroup dropped their price target on Innio from $30.00 to $22.00 and set a “neutral” rating on the stock in a research report on Monday, October 12th. Weiss Ratings cut Innio from a “sell (d)” rating to a “sell (d-)” rating in a report on Wednesday, October 14th. The Goldman Sachs Group set a $35.00 price objective on Innio in a report on Wednesday, September 30th. Finally, BNP Paribas Exane started coverage on Innio in a research report on Monday, June 29th. They issued an “outperform” rating and a $48.00 price objective for the company. One investment analyst has rated the stock with a Strong Buy rating, seven have issued 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, the company has an average rating of “Moderate Buy” and a consensus price target of $38.40.

Innio Company Profile

INNIO is an energy technology company that provides power-generation and gas-compression solutions for industrial, commercial and utility customers. Its portfolio includes Jenbacher gas engines and Waukesha engines, along with associated equipment, digital tools and long-term service offerings.

The company’s solutions are designed for applications including combined heat and power, distributed power generation, microgrids and gas compression. INNIO supports a range of fuel sources, including natural gas, biogas and hydrogen blends, helping customers produce electricity and useful heat while supporting grid reliability and energy-system flexibility.

INNIO was established in 2018 following the acquisition of GE’s Distributed Power business by Advent International.