Inno Holdings Inc. (NASDAQ:INHD) Short Interest Up 1,744.1% in June

Inno Holdings Inc. (NASDAQ:INHD – Get Free Report) was the recipient of a large increase in short interest in the month of June. As of June 15th, there was short interest totaling 2,704,440 shares, an increase of 1,744.1% from the May 31st total of 146,651 shares. Based on an average trading volume of 25,312,068 shares, the days-to-cover ratio is currently 0.1 days. Approximately 107.4% of the company’s shares are sold short.

Hedge Funds Weigh In On Inno

Hedge funds have recently bought and sold shares of the company. Jane Street Group LLC bought a new stake in Inno during the fourth quarter valued at $75,000. Two Sigma Investments LP bought a new position in shares of Inno in the 3rd quarter worth about $58,000. Geode Capital Management LLC raised its position in shares of Inno by 48.6% in the 2nd quarter. Geode Capital Management LLC now owns 31,128 shares of the company’s stock worth $43,000 after acquiring an additional 10,177 shares in the last quarter. Virtu Financial LLC bought a new position in shares of Inno in the 4th quarter worth about $36,000. Finally, T3 Companies LLC acquired a new position in shares of Inno in the 4th quarter valued at about $41,000. Institutional investors own 0.16% of the company’s stock.

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Inno Price Performance

Inno stock remained flat at $39.49 during mid-day trading on Thursday. Inno has a 52 week low of $1.01 and a 52 week high of $7,651.20. The company’s fifty day moving average is $12.43 and its 200-day moving average is $21.38. The firm has a market cap of $99.51 million, a PE ratio of -0.26 and a beta of -2.80.

Analyst Upgrades and Downgrades

A number of brokerages have recently commented on INHD. Wall Street Zen lowered shares of Inno from a “hold” rating to a “sell” rating in a report on Saturday, February 28th. Weiss Ratings raised Inno from a “sell (e+)” rating to a “sell (d-)” rating in a research report on Monday, June 8th. One investment analyst has rated the stock with a Sell rating, Based on data from MarketBeat, the stock presently has an average rating of “Sell”.

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About Inno

(Get Free Report)

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.

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