Inno Holdings Inc. (NASDAQ:INHD) Short Interest Down 93.2% in August

Inno Holdings Inc. (NASDAQ:INHD) saw a large decrease in short interest in the month of August. As of August 14th, there was short interest totaling 185,748 shares, a decrease of 93.2% from the July 30th total of 2,721,858 shares. Currently, 7.4% of the shares of the company are sold short. Based on an average trading volume of 1,211,571 shares, the days-to-cover ratio is presently 0.2 days.

Inno Stock Performance

INHD stock traded down $0.12 during midday trading on Tuesday, reaching $6.59. 65,565 shares of the company’s stock traded hands, compared to its average volume of 842,946. The firm has a market capitalization of $16.61 million, a PE ratio of -0.04 and a beta of -23.74. The company has a 50-day moving average price of $28.28 and a two-hundred day moving average price of $19.03. Inno has a 52 week low of $1.01 and a 52 week high of $7,651.20.

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

Analyst Upgrades and Downgrades

Separately, Weiss Ratings cut Inno from a “sell (d-)” rating to a “sell (e+)” rating in a research note on Monday, August 3rd. One analyst has rated the stock with a Sell rating, According to data from MarketBeat, the stock has an average rating of “Sell”.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the stock. Jane Street Group LLC purchased a new position in Inno during the 4th quarter valued at about $75,000. Two Sigma Investments LP purchased a new stake in shares of Inno in the third quarter worth about $58,000. Geode Capital Management LLC lifted its holdings in shares of Inno by 48.6% in the second quarter. Geode Capital Management LLC now owns 31,128 shares of the company’s stock worth $43,000 after buying an additional 10,177 shares in the last quarter. Virtu Financial LLC purchased a new stake in shares of Inno in the fourth quarter worth about $36,000. Finally, T3 Companies LLC bought a new position in shares of Inno in the fourth quarter valued at approximately $41,000. Institutional investors own 0.16% of the company’s stock.

About Inno

Inno Holdings Inc manufactures and sells cold-formed-steel members, castor cubes, mobile factories, and prefabricated homes in the United States. The company provides cold-formed steel framing and a mobile factory for off-site equipment rental, sales, service, and support. It serves in residential, commercial, industrial, and infrastructure projects. Inno Holdings Inc was founded in 2019 and is headquartered in Brookshire, Texas.