Innio (NASDAQ:INIO) Shares Down 14.8% – Here’s Why

Shares of Innio N.V. (NASDAQ:INIO) traded down 14.8% during mid-day trading on Wednesday. The stock traded as low as $15.71 and last traded at $15.6070. Approximately 849,973 shares traded hands during trading, a decline of 83% from the average session volume of 5,139,957 shares. The stock had previously closed at $18.31.

Analyst Upgrades and Downgrades

Several equities analysts have recently commented on INIO shares. Robert W. Baird set a $37.00 price target on Innio in a research note on Wednesday, July 29th. JPMorgan Chase & Co. cut their price objective on Innio from $40.00 to $33.00 and set an “overweight” rating for the company in a research report on Monday, October 19th. Wall Street Zen upgraded shares of Innio from a “hold” rating to a “buy” rating in a report on Saturday, October 31st. Morgan Stanley upped their target price on shares of Innio from $40.00 to $42.00 and gave the company an “overweight” rating in a research report on Wednesday, October 28th. Finally, Royal Bank Of Canada raised shares of Innio from a “sector perform” rating to an “outperform” rating and lowered their target price for the stock from $39.00 to $35.00 in a research note on Thursday, July 30th. One equities research analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating, three have issued a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $36.80.

Innio Price Performance

The firm has a market cap of $10.07 billion and a P/E ratio of 168.06. The company has a debt-to-equity ratio of 7.50, a current ratio of 1.27 and a quick ratio of 0.80. The stock has a 50 day moving average price of $18.55.

Innio (NASDAQ:INIO) last posted its quarterly earnings data on Tuesday, October 27th. The company reported $0.15 EPS for the quarter, beating the consensus estimate of $0.11 by $0.04. The business had revenue of $1.17 billion during the quarter. Innio had a net margin of 2.71% and a return on equity of 63.87%. On average, equities analysts predict that Innio N.V. will post 0.40 earnings per share for the current year.

Hedge Funds Weigh In On Innio

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Chicago Partners Investment Group LLC acquired a new stake in shares of Innio in the third quarter valued at $157,000. Sterling Capital Management LLC purchased a new position in Innio in the third quarter valued at $43,000. HBK Investments L P acquired a new position in Innio during the 2nd quarter worth $6,031,000. Junto Capital Management LP acquired a new position in Innio during the 2nd quarter worth $26,193,000. Finally, Dragoneer Investment Group LLC acquired a new position in Innio during the 2nd quarter worth $112,718,000.

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.