Inno (NASDAQ:INHD) Announces Quarterly Earnings Results

Inno (NASDAQ:INHD) issued its quarterly earnings data on Friday. The company reported ($0.07) earnings per share (EPS) for the quarter, Zacks reports. Inno had a negative return on equity of 24.17% and a negative net margin of 158.32%.

Inno Price Performance

Shares of NASDAQ INHD traded down $0.01 on Friday, hitting $0.08. The company’s stock had a trading volume of 15,995,957 shares, compared to its average volume of 13,748,121. Inno has a 12-month low of $0.07 and a 12-month high of $474.72. The company has a market capitalization of $642,524.00, a price-to-earnings ratio of -0.01 and a beta of -0.58. The stock has a 50 day moving average of $0.73 and a 200-day moving average of $6.30.

Inno shares are going to reverse split on the morning of Monday, May 4th. The 1-20 reverse split was announced on Wednesday, April 29th. The number of shares owned by shareholders will be adjusted after the market closes on Friday, May 1st.

Institutional Trading of Inno

Institutional investors and hedge funds have recently modified their holdings of the business. Virtu Financial LLC purchased a new stake in shares of Inno in the fourth quarter valued at about $36,000. 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 valued at $43,000 after purchasing an additional 10,177 shares in the last quarter. Two Sigma Investments LP purchased a new stake in shares of Inno in the third quarter valued at about $58,000. Finally, Jane Street Group LLC acquired a new position in shares of Inno in the fourth quarter valued at approximately $75,000. Hedge funds and other institutional investors own 0.16% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts recently commented on the stock. Weiss Ratings reissued a “sell (e+)” rating on shares of Inno in a report on Tuesday, April 21st. Wall Street Zen downgraded shares of Inno from a “hold” rating to a “sell” rating in a report on Saturday, February 28th. One investment analyst has rated the stock with a Sell rating, According to data from MarketBeat, the stock has a consensus rating of “Sell”.

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.