Innio (NASDAQ:INIO) Shares Gap Up – What’s Next?

Shares of Innio N.V. (NASDAQ:INIO) gapped up before the market opened on Wednesday . The stock had previously closed at $19.47, but opened at $20.26. Innio shares last traded at $19.7080, with a volume of 326,181 shares.

Analysts Set New Price Targets

Several analysts have recently commented on the stock. Bank of America began coverage on shares of Innio in a research note on Monday, June 29th. They set a “buy” rating and a $46.00 price target on the stock. Weiss Ratings started coverage on Innio in a report on Monday. They set a “sell (d)” rating on the stock. Royal Bank Of Canada upgraded Innio from a “sector perform” rating to an “outperform” rating and decreased their price objective for the company from $39.00 to $35.00 in a research report on Thursday, July 30th. Deutsche Bank Aktiengesellschaft started coverage on Innio in a research note on Monday, June 29th. They issued a “hold” rating and a $41.00 target price for the company. Finally, Robert W. Baird set a $37.00 target price on Innio in a research report on Wednesday, July 29th. One equities research analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating, three have given a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $42.90.

Innio Trading Up 1.8%

The business’s 50-day moving average price is $28.61.

Innio (NASDAQ:INIO) last issued its quarterly earnings results on Tuesday, July 28th. The company reported $0.08 EPS for the quarter, topping the consensus estimate of $0.05 by $0.03. The business had revenue of $937.70 million for the quarter. On average, equities research analysts forecast that Innio N.V. will post 0.37 EPS for the current year.

Institutional Trading of Innio

Institutional investors have recently bought and sold shares of the business. Wellington Management Group LLP bought a new stake in shares of Innio during the 2nd quarter valued at $1,117,000. Troluce Capital Advisors LLC acquired a new position in shares of Innio in the 2nd quarter valued at $1,483,000. Readystate Asset Management LP bought a new position in shares of Innio in the 2nd quarter worth $3,975,000. Finally, Value Aligned Research Advisors LLC acquired a new stake in shares of Innio during the second quarter worth $53,605,000.

About Innio

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.