Innventure (NASDAQ:INV) Upgraded to Hold at Zacks Research

Innventure (NASDAQ:INV) was upgraded by stock analysts at Zacks Research from a “strong sell” rating to a “hold” rating in a report issued on Tuesday, Zacks reports.

A number of other equities research analysts have also issued reports on the stock. Wall Street Zen lowered shares of Innventure from a “hold” rating to a “sell” rating in a report on Saturday, August 15th. Northland Securities set a $5.00 target price on shares of Innventure in a research report on Friday, August 14th. Finally, Weiss Ratings downgraded shares of Innventure from a “sell (d-)” rating to a “sell (e+)” rating in a research note on Friday, September 18th. One equities research analyst has rated the stock with a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Reduce” and an average price target of $5.00.

Innventure Stock Performance

Shares of NASDAQ:INV opened at $0.17 on Tuesday. The company has a debt-to-equity ratio of 0.01, a current ratio of 1.20 and a quick ratio of 1.15. Innventure has a 1 year low of $0.12 and a 1 year high of $7.86. The firm has a market capitalization of $14.66 million, a PE ratio of -0.11 and a beta of 0.47. The business’s 50 day moving average price is $0.52 and its 200-day moving average price is $3.34.

Innventure (NASDAQ:INV) last posted its quarterly earnings data on Thursday, August 13th. The company reported ($0.32) EPS for the quarter, missing the consensus estimate of ($0.23) by ($0.09). Innventure had a negative net margin of 3,022.42% and a negative return on equity of 21.34%. The firm had revenue of $0.95 million during the quarter, compared to analyst estimates of $1.97 million. As a group, equities research analysts expect that Innventure will post -1.17 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, CEO Gregory W. Haskell acquired 50,000 shares of Innventure stock in a transaction that occurred on Thursday, August 20th. The shares were purchased at an average price of $1.51 per share, for a total transaction of $75,500.00. Following the completion of the transaction, the chief executive officer owned 979,803 shares in the company, valued at $1,479,502.53. This represents a 5.38% increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Chairman Michael Otworth acquired 231,000 shares of Innventure stock in a transaction that occurred on Thursday, August 20th. The shares were bought at an average price of $1.51 per share, for a total transaction of $348,810.00. Following the transaction, the chairman owned 3,781,087 shares of the company’s stock, valued at $5,709,441.37. This represents a 6.51% increase in their position. The SEC filing for this purchase provides additional information. Insiders have acquired 536,000 shares of company stock valued at $807,110 over the last ninety days. 14.33% of the stock is currently owned by company insiders.

Institutional Trading of Innventure

Large investors have recently added to or reduced their stakes in the stock. BOK Financial Private Wealth Inc. purchased a new stake in Innventure in the 2nd quarter valued at $25,000. Essential Partners LLC purchased a new position in shares of Innventure during the 1st quarter worth $32,000. Valley Forge Investment Consultants Inc. ADV purchased a new position in shares of Innventure during the 2nd quarter worth $51,000. Pallas Capital Advisors LLC purchased a new position in shares of Innventure during the 2nd quarter worth $53,000. Finally, The Manufacturers Life Insurance Company acquired a new position in shares of Innventure during the 1st quarter valued at about $55,000. 55.98% of the stock is currently owned by hedge funds and other institutional investors.

Innventure Company Profile

Innventure Inc. (NASDAQ: INV) is a technology commercialization company that identifies promising innovations and helps develop them into standalone businesses. The company works with corporate, university and other research partners to evaluate technologies, build business plans and establish companies intended to bring those innovations to market. Innventure provides services across the commercialization process, including technology assessment, product development, intellectual-property strategy, business formation, fundraising and operational support.