Innio (NASDAQ:INIO) Coverage Initiated by Analysts at Piper Sandler

Piper Sandler initiated coverage on shares of Innio (NASDAQ:INIO) in a research note issued to investors on Friday morning, MarketBeat.com reports. The brokerage issued an overweight rating and a $21.00 target price on the stock.

A number of other research analysts have also recently commented on INIO. Weiss Ratings cut Innio from a “sell (d)” rating to a “sell (d-)” rating in a research report on Wednesday, October 14th. BNP Paribas Exane decreased their price objective on Innio from $43.00 to $35.00 and set an “outperform” rating for the company in a report on Tuesday, October 27th. Robert W. Baird set a $37.00 price objective on Innio in a research note on Wednesday, July 29th. Wall Street Zen raised shares of Innio from a “hold” rating to a “buy” rating in a report on Saturday, October 31st. Finally, JPMorgan Chase & Co. cut their target price on shares of Innio from $40.00 to $33.00 and set an “overweight” rating for the company in a research report on Monday, October 19th. One research analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating, three have assigned a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $35.36.

Innio Stock Down 3.9%

Shares of INIO stock opened at $14.57 on Friday. The business’s 50 day moving average is $17.83. The company has a debt-to-equity ratio of 7.50, a quick ratio of 0.80 and a current ratio of 1.27. Innio has a 12-month low of $12.95 and a 12-month high of $42.95. The stock has a market cap of $10.93 billion and a price-to-earnings ratio of 63.35.

Innio (NASDAQ:INIO) last announced its quarterly earnings data on Tuesday, October 27th. The company reported $0.15 earnings per share for the quarter, beating the consensus estimate of $0.11 by $0.04. Innio had a return on equity of 63.87% and a net margin of 2.71%. The business had revenue of $1.17 billion during the quarter. As a group, equities analysts expect that Innio will post 0.40 EPS for the current year.

Hedge Funds Weigh In On Innio

A number of large investors have recently made changes to their positions in the stock. Sterling Capital Management LLC purchased a new position in Innio during the third quarter worth about $43,000. Chicago Partners Investment Group LLC purchased a new stake in shares of Innio in the 3rd quarter valued at about $157,000. AlphaGrep UK Ltd purchased a new stake in shares of Innio in the 3rd quarter valued at about $345,000. Wellington Management Group LLP purchased a new stake in shares of Innio in the 2nd quarter valued at about $1,117,000. Finally, Troluce Capital Advisors LLC bought a new stake in shares of Innio during the 2nd quarter valued at about $1,483,000.

About Innio

INNIO Group is an energy technology company that designs and manufactures reciprocating gas engines and related power generation and compression systems. Its products are marketed under the Jenbacher and Waukesha brands, alongside digital monitoring, maintenance and service offerings. The company’s equipment is used in applications including onsite and distributed power generation, industrial operations and gas compression. INNIO supports customers in markets around the world and offers solutions designed to operate with fuels such as natural gas and biogas.