Innio (NASDAQ:INIO) Stock Falls 10.7% – What’s Next?

Innio N.V. (NASDAQ:INIO – Get Free Report)’s share price was down 10.7% during trading on Thursday. The company traded as low as $15.09 and last traded at $15.0680. Approximately 1,536,356 shares were traded during trading, a decline of 68% from the average session volume of 4,840,034 shares. The stock had previously closed at $16.87.

Analyst Ratings Changes

Several brokerages recently weighed in on INIO. The Goldman Sachs Group set a $35.00 target price on shares of Innio in a report on Wednesday, September 30th. Deutsche Bank Aktiengesellschaft assumed coverage on shares of Innio in a research note on Monday, June 29th. They issued a “hold” rating and a $41.00 price target for the company. BNP Paribas Exane assumed coverage on shares of Innio in a report on Monday, June 29th. They set an “outperform” rating and a $48.00 price target for the company. Weiss Ratings downgraded shares of Innio from a “sell (d)” rating to a “sell (d-)” rating in a research report on Wednesday, October 14th. Finally, Zacks Research upgraded shares of Innio to a “hold” rating in a report on Tuesday, June 30th. One research analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating, three have assigned a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, Innio has a consensus rating of “Moderate Buy” and an average price target of $38.40.

Read Our Latest Research Report on Innio

Innio Price Performance

The firm has a market cap of $11.33 billion and a P/E ratio of 188.88. The company has a quick ratio of 0.79, a current ratio of 1.25 and a debt-to-equity ratio of 11.90. The stock’s 50 day simple moving average is $20.35.

Innio (NASDAQ:INIO – Get Free Report) last released its quarterly earnings data on Tuesday, July 28th. The company reported $0.08 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.05 by $0.03. The business had revenue of $937.70 million for the quarter. Equities research analysts predict that Innio N.V. will post 0.37 EPS for the current year.

Institutional Investors Weigh In On Innio

Several institutional investors have recently added to or reduced their stakes in the business. Wellington Management Group LLP acquired a new position in Innio in the second quarter valued at approximately $1,117,000. Troluce Capital Advisors LLC acquired a new stake in Innio during the second quarter worth approximately $1,483,000. WINTON GROUP Ltd acquired a new stake in Innio during the second quarter worth approximately $2,990,000. Readystate Asset Management LP purchased a new stake in shares of Innio during the 2nd quarter worth approximately $3,975,000. Finally, HBK Investments L P purchased a new stake in shares of Innio during the 2nd quarter worth approximately $6,031,000.

About Innio

(Get Free Report)

INNIO is an energy technology company that provides power-generation and gas-compression solutions for industrial, commercial and utility customers. Its portfolio includes Jenbacher gas engines and Waukesha engines, along with associated equipment, digital tools and long-term service offerings.

The company’s solutions are designed for applications including combined heat and power, distributed power generation, microgrids and gas compression. INNIO supports a range of fuel sources, including natural gas, biogas and hydrogen blends, helping customers produce electricity and useful heat while supporting grid reliability and energy-system flexibility.

INNIO was established in 2018 following the acquisition of GE’s Distributed Power business by Advent International.

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