Innio (NASDAQ:INIO) Shares Down 10.7% – Time to Sell?

Innio N.V. (NASDAQ:INIO)’s share price traded 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 traded hands during trading, a decline of 68% from the average session volume of 4,840,034 shares. The stock had previously closed at $16.87.

Wall Street Analysts Forecast Growth

Several equities analysts have weighed in on the company. Bank of America began coverage on Innio in a report on Monday, June 29th. They set a “buy” rating and a $46.00 price target for the company. JPMorgan Chase & Co. decreased their price objective on Innio from $40.00 to $33.00 and set an “overweight” rating on the stock in a report on Monday, October 19th. Zacks Research upgraded Innio to a “hold” rating in a research report on Tuesday, June 30th. Royal Bank Of Canada upgraded shares of Innio from a “sector perform” rating to an “outperform” rating and reduced their price target for the stock from $39.00 to $35.00 in a research report on Thursday, July 30th. Finally, UBS Group started coverage on shares of Innio in a research report on Monday, June 29th. They issued a “buy” rating and a $47.00 price target on the stock. One research analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating, three have given a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $38.40.

Innio Price Performance

The company has a debt-to-equity ratio of 11.90, a current ratio of 1.25 and a quick ratio of 0.79. The stock has a 50-day simple moving average of $19.85. The company has a market cap of $11.41 billion and a P/E ratio of 190.12.

Innio (NASDAQ:INIO) last posted its quarterly earnings data on Tuesday, July 28th. The company reported $0.08 earnings per share for the quarter, beating analysts’ consensus estimates of $0.05 by $0.03. The firm had revenue of $937.70 million for the quarter. Sell-side analysts predict that Innio N.V. will post 0.37 EPS for the current fiscal year.

Hedge Funds Weigh In On Innio

A number of large investors have recently made changes to their positions in INIO. Sterling Capital Management LLC purchased a new stake in Innio in the 3rd quarter worth about $43,000. HBK Investments L P bought a new stake in Innio in the second quarter worth about $6,031,000. Junto Capital Management LP purchased a new position in shares of Innio during the second quarter valued at approximately $26,193,000. Dragoneer Investment Group LLC bought a new position in shares of Innio during the second quarter valued at approximately $112,718,000. Finally, WINTON GROUP Ltd bought a new position in shares of Innio during the second quarter valued at approximately $2,990,000.

Innio Company Profile

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.