Innio (NASDAQ:INIO) Shares Climb 7.9% – Still a Buy?

Innio N.V. (NASDAQ:INIO)’s stock price traded up 7.9% during mid-day trading on Monday. The stock traded as high as $16.43 and last traded at $16.4110. 4,345,949 shares traded hands during mid-day trading, a decline of 11% from the average daily volume of 4,899,603 shares. The stock had previously closed at $15.21.

Analysts Set New Price Targets

A number of brokerages have recently commented on INIO. Bank of America started coverage on shares of Innio in a report on Monday, June 29th. They set a “buy” rating and a $46.00 target price on the stock. BNP Paribas Exane initiated coverage on shares of Innio in a research note on Monday, June 29th. They issued an “outperform” rating and a $48.00 price target for the company. Robert W. Baird set a $37.00 price target on shares of Innio in a research report on Wednesday, July 29th. Weiss Ratings cut shares of Innio from a “sell (d)” rating to a “sell (d-)” rating in a report on Wednesday, October 14th. Finally, JPMorgan Chase & Co. cut their price objective on shares of Innio from $40.00 to $33.00 and set an “overweight” rating on the stock in a report on Monday, October 19th. One investment 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 stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $38.40.

Innio Trading Up 11.9%

The company has a market cap of $12.76 billion and a price-to-earnings ratio of 212.35. The company has a quick ratio of 0.79, a current ratio of 1.25 and a debt-to-equity ratio of 11.90. The business’s 50 day simple moving average is $19.85.

Innio (NASDAQ:INIO) last announced its earnings results on Tuesday, July 28th. The company reported $0.08 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.05 by $0.03. The business had revenue of $937.70 million for the quarter. As a group, equities research analysts anticipate that Innio N.V. will post 0.37 earnings per share for the current year.

Institutional Investors Weigh In On Innio

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Dragoneer Investment Group LLC bought a new stake in Innio in the second quarter worth $112,718,000. Value Aligned Research Advisors LLC bought a new stake in shares of Innio in the 2nd quarter worth about $53,605,000. Junto Capital Management LP bought a new stake in shares of Innio in the 2nd quarter worth about $26,193,000. Squarepoint Ops LLC purchased a new position in shares of Innio during the 2nd quarter worth about $13,842,000. Finally, HBK Investments L P purchased a new position in shares of Innio during the 2nd quarter worth about $6,031,000.

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.