Inno Holdings Inc. (NASDAQ:INHD) Short Interest Update

Inno Holdings Inc. (NASDAQ:INHD) saw a significant decrease in short interest during the month of March. As of March 13th, there was short interest totaling 247,392 shares, a decrease of 30.6% from the February 26th total of 356,305 shares. Based on an average daily volume of 127,354 shares, the days-to-cover ratio is currently 1.9 days. Approximately 2.9% of the shares of the company are sold short.

Analyst Upgrades and Downgrades

Several analysts recently weighed in on INHD shares. Weiss Ratings reissued a “sell (e+)” rating on shares of Inno in a report on Thursday, January 22nd. Wall Street Zen lowered Inno from a “hold” rating to a “sell” rating in a report on Saturday, February 28th. One research analyst has rated the stock with a Sell rating, Based on data from MarketBeat.com, the stock has an average rating of “Sell”.

Inno Trading Down 1.0%

NASDAQ INHD traded down $0.01 during trading on Friday, reaching $1.01. The company’s stock had a trading volume of 69,619 shares, compared to its average volume of 111,844. The firm has a 50 day moving average price of $1.15 and a 200 day moving average price of $16.04. Inno has a 12 month low of $0.97 and a 12 month high of $474.72. The firm has a market capitalization of $8.49 million, a price-to-earnings ratio of -0.07 and a beta of -1.07.

Inno (NASDAQ:INHD) last announced its earnings results on Monday, December 15th. The company reported $3.60 EPS for the quarter. Inno had a negative net margin of 158.32% and a negative return on equity of 24.17%. The company had revenue of $1.09 million for the quarter.

Hedge Funds Weigh In On Inno

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Geode Capital Management LLC lifted its position in shares of Inno by 48.6% during the 2nd quarter. Geode Capital Management LLC now owns 31,128 shares of the company’s stock valued at $43,000 after acquiring an additional 10,177 shares during the period. Virtu Financial LLC bought a new position in shares of Inno in the fourth quarter worth $36,000. T3 Companies LLC acquired a new position in Inno in the fourth quarter valued at about $41,000. Two Sigma Investments LP acquired a new position in Inno in the third quarter valued at about $58,000. Finally, Jane Street Group LLC bought a new stake in Inno during the fourth quarter worth about $75,000. 0.16% of the stock is owned by institutional investors and hedge funds.

Inno Company Profile

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.