Innio (NASDAQ:INIO) Shares Up 10.7% – Here’s Why

Innio N.V. (NASDAQ:INIO) traded up 10.7% during mid-day trading on Tuesday. The stock traded as high as $17.95 and last traded at $18.1650. Approximately 1,915,875 shares were traded during trading, a decline of 63% from the average session volume of 5,148,723 shares. The stock had previously closed at $16.41.

Wall Street Analyst Weigh In

A number of analysts have commented on INIO shares. Robert W. Baird set a $37.00 price target on shares of Innio in a research note on Wednesday, July 29th. The Goldman Sachs Group restated a “buy” rating and set a $31.00 price objective on shares of Innio in a research note on Tuesday, October 27th. Weiss Ratings cut shares of Innio from a “sell (d)” rating to a “sell (d-)” rating in a report on Wednesday, October 14th. Morgan Stanley upped their target price on shares of Innio from $40.00 to $42.00 and gave the company an “overweight” rating in a report on Wednesday, October 28th. Finally, Royal Bank Of Canada upgraded shares of Innio from a “sector perform” rating to an “outperform” rating and cut their target price for the company from $39.00 to $35.00 in a research note on Thursday, July 30th. 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 issued a Sell rating to the stock. Based on data from MarketBeat.com, Innio has an average rating of “Moderate Buy” and a consensus target price of $36.80.

Innio Trading Down 9.6%

The business’s fifty day simple moving average is $18.55. The company has a debt-to-equity ratio of 7.50, a current ratio of 1.27 and a quick ratio of 0.80.

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

Hedge Funds Weigh In On Innio

Several institutional investors and hedge funds have recently made changes to their positions in INIO. Sterling Capital Management LLC bought a new stake in Innio in the 3rd quarter valued at $43,000. Chicago Partners Investment Group LLC bought a new position in Innio during the 3rd quarter worth $157,000. Wellington Management Group LLP bought a new position in Innio during the 2nd quarter worth $1,117,000. Troluce Capital Advisors LLC bought a new position in Innio during the 2nd quarter worth $1,483,000. Finally, WINTON GROUP Ltd acquired a new stake in shares of Innio during the second quarter worth $2,990,000.

About Innio

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.