Inno Holdings Inc. (NASDAQ:INHD) Short Interest Up 1,211.4% in April

Inno Holdings Inc. (NASDAQ:INHD) saw a significant growth in short interest during the month of April. As of April 30th, there was short interest totaling 13,279,105 shares, a growth of 1,211.4% from the April 15th total of 1,012,609 shares. Based on an average daily volume of 70,178,415 shares, the short-interest ratio is presently 0.2 days. Currently, 3,154.2% of the company’s stock are short sold.

Inno Stock Performance

INHD traded up $0.01 during trading on Wednesday, reaching $1.38. 121,051 shares of the stock were exchanged, compared to its average volume of 2,561,373. The stock has a market cap of $579,600.00, a P/E ratio of -0.19 and a beta of -2.69. Inno has a twelve month low of $1.28 and a twelve month high of $7,651.20. The stock’s 50 day moving average price is $11.84 and its two-hundred day moving average price is $92.95.

Hedge Funds Weigh In On Inno

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. T3 Companies LLC bought a new position in Inno during the fourth quarter worth $41,000. Geode Capital Management LLC boosted its position in Inno by 48.6% during the second quarter. Geode Capital Management LLC now owns 31,128 shares of the company’s stock worth $43,000 after purchasing an additional 10,177 shares during the period. Jane Street Group LLC bought a new position in Inno during the fourth quarter worth $75,000. Two Sigma Investments LP bought a new position in Inno in the 3rd quarter valued at about $58,000. Finally, Virtu Financial LLC acquired a new stake in Inno during the fourth quarter worth approximately $36,000. 0.16% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

INHD has been the topic of a number of recent analyst reports. Wall Street Zen downgraded shares of Inno from a “hold” rating to a “sell” rating in a report on Saturday, February 28th. Weiss Ratings restated a “sell (e+)” rating on shares of Inno in a report on Tuesday, April 21st. One research analyst has rated the stock with a Sell rating, According to data from MarketBeat, the stock currently has a consensus rating of “Sell”.

Inno Company Profile

Inno Holdings Inc manufactures and sells cold-formed-steel members, castor cubes, mobile factories, and prefabricated homes in the United States. The company provides cold-formed steel framing and a mobile factory for off-site equipment rental, sales, service, and support. It serves in residential, commercial, industrial, and infrastructure projects. Inno Holdings Inc was founded in 2019 and is headquartered in Brookshire, Texas.