Innventure (NASDAQ:INV) Reaches New 52-Week High – Still a Buy?

Innventure, Inc. (NASDAQ:INV)’s share price reached a new 52-week high on Monday . The company traded as high as $7.46 and last traded at $7.1360, with a volume of 796925 shares trading hands. The stock had previously closed at $7.00.

Analyst Ratings Changes

A number of analysts have commented on INV shares. Weiss Ratings upgraded Innventure from a “sell (e+)” rating to a “sell (d-)” rating in a research report on Thursday, May 7th. Wall Street Zen upgraded Innventure from a “strong sell” rating to a “sell” rating in a research report on Saturday, April 25th. Finally, Northland Securities set a $8.00 target price on Innventure in a research report on Thursday, January 22nd. One equities research analyst has rated the stock with a Sell rating, Based on data from MarketBeat.com, the stock currently has a consensus rating of “Sell” and an average price target of $8.00.

Innventure Stock Performance

The stock has a 50-day simple moving average of $4.72 and a 200 day simple moving average of $4.20. The company has a debt-to-equity ratio of 0.02, a current ratio of 1.09 and a quick ratio of 1.07. The company has a market capitalization of $572.50 million, a PE ratio of -1.27 and a beta of 0.46.

Innventure (NASDAQ:INV) last issued its quarterly earnings data on Monday, March 30th. The company reported ($0.29) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.32) by $0.03. Innventure had a negative return on equity of 23.77% and a negative net margin of 14,266.39%.The business had revenue of ($20.21) million for the quarter, compared to the consensus estimate of $2.01 million. Equities analysts anticipate that Innventure, Inc. will post -1.34 EPS for the current fiscal year.

Insider Activity

In other news, Director Daniel J. Hennessy sold 582,139 shares of the company’s stock in a transaction on Monday, April 20th. The stock was sold at an average price of $5.52, for a total value of $3,213,407.28. Following the sale, the director directly owned 182,358 shares in the company, valued at $1,006,616.16. This represents a 76.15% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 23.64% of the stock is owned by corporate insiders.

Institutional Trading of Innventure

Institutional investors and hedge funds have recently made changes to their positions in the stock. Police & Firemen s Retirement System of New Jersey purchased a new stake in shares of Innventure in the fourth quarter valued at $32,000. WESPAC Advisors LLC purchased a new stake in shares of Innventure in the fourth quarter valued at $42,000. Yorkville Advisors Global LP purchased a new stake in shares of Innventure in the third quarter valued at $43,000. Diversify Advisory Services LLC purchased a new stake in shares of Innventure in the fourth quarter valued at $44,000. Finally, R Squared Ltd purchased a new stake in shares of Innventure in the first quarter valued at $51,000. 55.98% of the stock is currently owned by hedge funds and other institutional investors.

Innventure Company Profile

Innventure Inc founds, funds and operates companies with a focus on transformative, sustainable technology solutions acquired or licensed from multinational corporations. Innventure Inc, formerly known as Learn CW Investment Corporation, is based in ORLANDO, Fla.