Innio N.V. (NASDAQ:INIO – Get Free Report) was the recipient of a large increase in short interest during the month of June. As of June 30th, there was short interest totaling 8,076,525 shares, an increase of 101.6% from the June 15th total of 4,007,164 shares. Currently, 1.1% of the shares of the company are sold short. Based on an average daily volume of 4,246,141 shares, the days-to-cover ratio is presently 1.9 days.
Innio Stock Down 2.1%
Shares of NASDAQ:INIO traded down $0.65 during midday trading on Wednesday, reaching $30.16. 5,291,043 shares of the company’s stock were exchanged, compared to its average volume of 5,108,209. Innio has a 12 month low of $29.39 and a 12 month high of $42.95.
Analysts Set New Price Targets
Several research firms have issued reports on INIO. Morgan Stanley assumed coverage on shares of Innio in a research report on Monday, June 29th. They issued an “overweight” rating and a $47.00 price target on the stock. JPMorgan Chase & Co. began coverage on shares of Innio in a research note on Monday, June 29th. They issued an “overweight” rating and a $44.00 target price for the company. Deutsche Bank Aktiengesellschaft initiated coverage on Innio in a research report on Monday, June 29th. They set a “hold” rating and a $41.00 target price on the stock. Robert W. Baird initiated coverage on Innio in a research report on Monday, June 29th. They issued an “outperform” rating and a $50.00 price objective for the company. Finally, Wall Street Zen raised Innio to a “hold” rating in a report on Saturday, June 13th. One analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating and four have assigned a Hold rating to the stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $44.60.
Innio Company Profile
INNIO is a provider of energy solutions, offering reciprocating gas engines, power generation systems, and related services for distributed power generation and gas compression applications. Its portfolio is designed to support customers in industries such as utilities, data centers, agriculture, wastewater, and oil and gas, where reliable on-site power and efficiency are important.
The company is best known for its Jenbacher and Waukesha brands, which are used in engines and power systems that can run on natural gas, biogas, and other gaseous fuels.
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