Innio (NASDAQ:INIO) Hits New 1-Year Low – Here’s Why

Innio N.V. (NASDAQ:INIO) reached a new 52-week low during trading on Tuesday . The company traded as low as $22.60 and last traded at $24.0910, with a volume of 667614 shares traded. The stock had previously closed at $26.92.

Analysts Set New Price Targets

Several brokerages have recently commented on INIO. JPMorgan Chase & Co. initiated coverage on Innio in a report on Monday, June 29th. They set an “overweight” rating and a $44.00 target price on the stock. The Goldman Sachs Group assumed coverage on shares of Innio in a report on Monday, June 29th. They set a “buy” rating and a $42.00 price objective on the stock. Deutsche Bank Aktiengesellschaft initiated coverage on shares of Innio in a research note on Monday, June 29th. They issued a “hold” rating and a $41.00 target price for the company. Bank of America started coverage on shares of Innio in a research report on Monday, June 29th. They set a “buy” rating and a $46.00 target price on the stock. Finally, Morgan Stanley began coverage on shares of Innio in a research note on Monday, June 29th. They set an “overweight” rating and a $47.00 price target on the stock. One equities research analyst has rated the stock with a Strong Buy rating, six have given a Buy rating and four have given a Hold rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $44.60.

Innio Stock Performance

Innio (NASDAQ:INIO) last posted its earnings results 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 company had revenue of $937.70 million for the quarter.

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.