Inno Holdings Inc. (NASDAQ:INHD) Shares Shorted: Short Interest Down 54.4% in September

Inno Holdings Inc. (NASDAQ:INHD) saw a significant decline in short interest during the month of September. As of September 15th, there was short interest totaling 49,699 shares, a decline of 54.4% from the August 31st total of 108,982 shares. Based on an average trading volume of 80,587 shares, the days-to-cover ratio is currently 0.6 days. Approximately 2.0% of the company’s shares are sold short.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on INHD shares. Weiss Ratings cut Inno from a “sell (d-)” rating to a “sell (e+)” rating in a report on Thursday. Wall Street Zen upgraded Inno to a “sell” rating in a research report on Saturday, September 19th. One equities research analyst has rated the stock with a Sell rating, According to MarketBeat, the company has an average rating of “Sell”.

Institutional Inflows and Outflows

A hedge fund recently bought a new position in Inno stock. T3 Companies LLC acquired a new position in shares of Inno Holdings Inc. (NASDAQ:INHD) during the 4th quarter, according to its most recent 13F filing with the SEC. The firm acquired 36,245 shares of the company’s stock, valued at approximately $41,000. T3 Companies LLC owned 0.89% of Inno as of its most recent SEC filing. Institutional investors own 0.16% of the company’s stock.

Inno Price Performance

Shares of NASDAQ:INHD traded down $0.09 during trading hours on Monday, hitting $3.01. 18,370 shares of the company’s stock traded hands, compared to its average volume of 2,481,872. The firm has a market capitalization of $7.59 million, a P/E ratio of -0.51 and a beta of -24.12. The business has a fifty day moving average price of $12.05 and a 200-day moving average price of $16.17. Inno has a 1 year low of $1.01 and a 1 year high of $1,656.00.

Inno (NASDAQ:INHD) last issued its quarterly earnings results on Tuesday, August 18th. The company reported ($0.70) earnings per share (EPS) for the quarter. Inno had a negative return on equity of 9.47% and a negative net margin of 72.63%.The business had revenue of $2.07 million for the quarter.

Inno Company Profile

Inno Holdings Inc is a construction technology company focused on the design, development and manufacture of prefabricated modular buildings and related construction products. The company aims to provide alternatives to conventional construction through factory-produced building components and streamlined assembly processes.

Its offerings include modular residential structures, prefabricated homes and light-gauge steel framing systems. These products are intended for applications such as housing and other building projects, with an emphasis on reducing construction time and improving manufacturing efficiency.

Inno Holdings is headquartered in Austin, Texas.