INNEOVA Holdings Limited (NASDAQ:INEO) Short Interest Update

INNEOVA Holdings Limited (NASDAQ:INEO) was the recipient of a large drop in short interest during the month of September. As of September 15th, there was short interest totaling 24,424 shares, a drop of 56.0% from the August 31st total of 55,555 shares. Currently, 0.2% of the company’s shares are sold short. Based on an average daily trading volume, of 17,156 shares, the days-to-cover ratio is presently 1.4 days.

INNEOVA Price Performance

INNEOVA stock traded down $0.00 during mid-day trading on Wednesday, reaching $0.59. The stock had a trading volume of 13,158 shares, compared to its average volume of 208,771. INNEOVA has a one year low of $0.44 and a one year high of $1.20. The company has a 50-day moving average price of $0.59 and a two-hundred day moving average price of $0.59. The company has a debt-to-equity ratio of 0.25, a quick ratio of 0.58 and a current ratio of 1.02.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings reaffirmed a “sell (d)” rating on shares of INNEOVA in a research report on Wednesday, July 8th. One equities research analyst has rated the stock with a Sell rating, Based on data from MarketBeat.com, the stock currently has a consensus rating of “Sell”.

INNEOVA Company Profile

We are a Singapore-based provider of high-quality Original Equipment Manufacturer (“OEM”), third party branded and in-house branded replacement parts for motor vehicles and for non-vehicle combustion engines serving a number of industries. We distribute spare parts through operations primarily based in Singapore and global sales primarily generated from the Middle East and Asia. Through our On-Highway Business, we supply a wide range of genuine OEM and aftermarket parts for use in passenger and commercial vehicles bearing either the manufacturer’s brands or our in-house brands through SP Zone.