Short Interest in INNEOVA Holdings Limited (NASDAQ:INEO) Decreases By 83.7%

INNEOVA Holdings Limited (NASDAQ:INEO) saw a significant drop in short interest in August. As of August 14th, there was short interest totaling 1,194 shares, a drop of 83.7% from the July 30th total of 7,322 shares. Based on an average daily trading volume, of 17,698 shares, the short-interest ratio is currently 0.1 days. Approximately 0.0% of the company’s stock are sold short.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings reaffirmed a “sell (d)” rating on shares of INNEOVA in a research report on Wednesday, July 8th. One equities research analyst has rated the stock with a Sell rating, Based on data from MarketBeat.com, INNEOVA presently has a consensus rating of “Sell”.

INNEOVA Stock Down 1.1%

INEO stock traded down $0.01 during midday trading on Wednesday, reaching $0.58. 14,034 shares of the company were exchanged, compared to its average volume of 229,912. The company has a quick ratio of 0.58, a current ratio of 1.02 and a debt-to-equity ratio of 0.25. INNEOVA has a 1-year low of $0.44 and a 1-year high of $1.27. The stock’s 50-day simple moving average is $0.64 and its 200 day simple moving average is $0.59.

About INNEOVA

We are a Singapore-based provider of high-quality Original Equipment Manufacturer (“OEM”), third party branded and in-house branded replacement parts for motor vehicles and for non-vehicle combustion engines serving a number of industries. We distribute spare parts through operations primarily based in Singapore and global sales primarily generated from the Middle East and Asia. Through our On-Highway Business, we supply a wide range of genuine OEM and aftermarket parts for use in passenger and commercial vehicles bearing either the manufacturer’s brands or our in-house brands through SP Zone.