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

Inno Holdings Inc. (NASDAQ:INHD) was the recipient of a significant drop in short interest in May. As of May 15th, there was short interest totaling 275,968 shares, a drop of 97.9% from the April 30th total of 13,279,105 shares. Based on an average daily trading volume, of 1,101,491 shares, the days-to-cover ratio is presently 0.3 days. Approximately 65.6% of the company’s shares are short sold.

Wall Street Analysts Forecast Growth

A number of analysts have issued reports on the company. Wall Street Zen downgraded Inno from a “hold” rating to a “sell” rating in a research note on Saturday, February 28th. Weiss Ratings reissued a “sell (e+)” rating on shares of Inno in a research report on Tuesday, April 21st. One investment analyst has rated the stock with a Sell rating, According to data from MarketBeat.com, the company currently has an average rating of “Sell”.

Hedge Funds Weigh In On Inno

Several large investors have recently modified their holdings of INHD. Geode Capital Management LLC increased its position 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 worth $43,000 after purchasing an additional 10,177 shares during the last quarter. Two Sigma Investments LP acquired a new position in Inno in the third quarter valued at about $58,000. T3 Companies LLC purchased a new position in Inno during the fourth quarter worth about $41,000. Jane Street Group LLC purchased a new position in Inno during the fourth quarter worth about $75,000. Finally, Virtu Financial LLC acquired a new stake in shares of Inno during the fourth quarter valued at about $36,000. Institutional investors and hedge funds own 0.16% of the company’s stock.

Inno Price Performance

INHD traded up $0.03 during trading hours on Friday, reaching $1.27. The company’s stock had a trading volume of 99,390 shares, compared to its average volume of 681,007. The stock has a market cap of $533,400.00, a PE ratio of -0.01 and a beta of -2.69. Inno has a fifty-two week low of $1.01 and a fifty-two week high of $7,651.20. The business’s 50-day moving average is $7.31 and its 200-day moving average is $53.44.

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.