Short Interest in INNEOVA Holdings Limited (NASDAQ:INEO) Increases By 4,552.8%

INNEOVA Holdings Limited (NASDAQ:INEO) saw a large growth in short interest in the month of August. As of August 31st, there was short interest totaling 55,555 shares, a growth of 4,552.8% from the August 15th total of 1,194 shares. Based on an average daily trading volume, of 279,383 shares, the short-interest ratio is presently 0.2 days. Approximately 0.5% of the company’s stock are sold short.

Wall Street Analysts Forecast Growth

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

INNEOVA Stock Performance

Shares of INEO traded up $0.01 during midday trading on Thursday, hitting $0.54. The company had a trading volume of 2,484 shares, compared to its average volume of 219,229. The company’s 50-day simple moving average is $0.63 and its 200-day simple moving average is $0.59. The company has a debt-to-equity ratio of 0.25, a quick ratio of 0.58 and a current ratio of 1.02. INNEOVA has a 1 year low of $0.44 and a 1 year high of $1.20.

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.