Inno Holdings Inc. (NASDAQ:INHD) Short Interest Update

Inno Holdings Inc. (NASDAQ:INHD) was the target of a significant growth in short interest in March. As of March 31st, there was short interest totaling 326,451 shares, a growth of 32.0% from the March 15th total of 247,392 shares. Approximately 3.9% of the shares of the company are short sold. Based on an average daily volume of 100,308 shares, the days-to-cover ratio is currently 3.3 days.

Analysts Set New Price Targets

INHD has been the topic of several recent analyst reports. Wall Street Zen downgraded shares of Inno from a “hold” rating to a “sell” rating in a research note on Saturday, February 28th. Weiss Ratings reiterated a “sell (e+)” rating on shares of Inno in a research report on Thursday, January 22nd. One research analyst has rated the stock with a Sell rating, According to data from MarketBeat.com, the company presently has an average rating of “Sell”.

Inno Stock Down 2.8%

NASDAQ INHD traded down $0.01 during trading hours on Thursday, hitting $0.18. The company’s stock had a trading volume of 3,628,633 shares, compared to its average volume of 16,233,067. The stock has a fifty day moving average of $0.93 and a 200 day moving average of $8.47. Inno has a twelve month low of $0.17 and a twelve month high of $474.72. The firm has a market capitalization of $1.55 million, a P/E ratio of -0.01 and a beta of -0.58.

Inno (NASDAQ:INHD) last released its earnings results on Monday, December 15th. The company reported $3.60 EPS for the quarter. The firm had revenue of $1.09 million during the quarter. Inno had a negative net margin of 158.32% and a negative return on equity of 24.17%.

Hedge Funds Weigh In On Inno

Several hedge funds have recently added to or reduced their stakes in the stock. Virtu Financial LLC bought a new position in shares of Inno during the 4th quarter valued at about $36,000. T3 Companies LLC bought a new position in shares of Inno during the 4th quarter valued at about $41,000. Geode Capital Management LLC lifted its holdings in shares of Inno by 48.6% during the 2nd quarter. Geode Capital Management LLC now owns 31,128 shares of the company’s stock valued at $43,000 after purchasing an additional 10,177 shares in the last quarter. Two Sigma Investments LP bought a new position in shares of Inno during the 3rd quarter valued at about $58,000. Finally, Jane Street Group LLC bought a new position in shares of Inno during the 4th quarter valued at about $75,000. Institutional investors and hedge funds own 0.16% of the company’s stock.

Inno Company Profile

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.