Innio N.V. (NASDAQ:INIO – Get Free Report)’s share price was up 5.4% on Wednesday . The company traded as high as $23.05 and last traded at $23.14. Approximately 434,128 shares changed hands during trading, a decline of 91% from the average daily volume of 4,588,581 shares. The stock had previously closed at $21.96.
Wall Street Analyst Weigh In
INIO has been the topic of a number of recent research reports. Zacks Research raised Innio to a “hold” rating in a report on Tuesday, June 30th. Deutsche Bank Aktiengesellschaft began coverage on shares of Innio in a research report on Monday, June 29th. They set a “hold” rating and a $41.00 price objective for the company. Wall Street Zen raised shares of Innio to a “hold” rating in a report on Saturday, June 13th. The Goldman Sachs Group started coverage on shares of Innio in a research note on Monday, June 29th. They set a “buy” rating and a $42.00 price target on the stock. Finally, Morgan Stanley started coverage on shares of Innio in a research report on Monday, June 29th. They issued an “overweight” rating and a $47.00 price objective for the company. One investment analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and three have assigned a Hold rating to the company’s stock. According to MarketBeat, Innio has an average rating of “Moderate Buy” and a consensus target price of $42.90.
Check Out Our Latest Report on INIO
Innio Stock Performance
Innio (NASDAQ:INIO – Get Free Report) last announced its quarterly earnings data on Tuesday, July 28th. The company reported $0.08 EPS for the quarter, beating the consensus estimate of $0.05 by $0.03. The company had revenue of $937.70 million during the quarter. Research analysts predict that Innio N.V. will post 0.37 EPS for the current year.
Institutional Investors Weigh In On Innio
A number of institutional investors and hedge funds have recently modified their holdings of the company. Wellington Management Group LLP purchased a new position in Innio in the 2nd quarter valued at approximately $1,117,000. Value Aligned Research Advisors LLC acquired a new stake in Innio in the second quarter valued at $53,605,000. Troluce Capital Advisors LLC acquired a new stake in Innio in the second quarter valued at $1,483,000. Finally, Readystate Asset Management LP purchased a new position in shares of Innio in the second quarter valued at $3,975,000.
About Innio
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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