Wellington Management Group LLP Buys Shares of 28,248 Innio N.V. $INIO

Wellington Management Group LLP bought a new position in Innio N.V. (NASDAQ:INIO) in the second quarter, according to its most recent disclosure with the SEC. The firm bought 28,248 shares of the company’s stock, valued at approximately $1,117,000.

Innio Price Performance

Shares of NASDAQ:INIO opened at $20.35 on Friday. The business’s 50-day simple moving average is $25.86. Innio N.V. has a 12-month low of $19.04 and a 12-month high of $42.95.

Innio (NASDAQ:INIO) last posted its earnings results on Tuesday, July 28th. The company reported $0.08 EPS for the quarter, beating analysts’ consensus estimates of $0.05 by $0.03. The company had revenue of $937.70 million during the quarter. On average, sell-side analysts forecast that Innio N.V. will post 0.37 EPS for the current year.

Analyst Upgrades and Downgrades

Several brokerages have recently weighed in on INIO. Citigroup initiated coverage on shares of Innio in a research report on Monday, June 29th. They set a “neutral” rating and a $42.00 price target on the stock. Weiss Ratings began coverage on shares of Innio in a research note on Monday, August 31st. They set a “sell (d)” rating on the stock. Deutsche Bank Aktiengesellschaft started coverage on shares of Innio in a report on Monday, June 29th. They issued a “hold” rating and a $41.00 target price on the stock. UBS Group started coverage on shares of Innio in a research note on Monday, June 29th. They issued a “buy” rating and a $47.00 price target for the company. Finally, The Goldman Sachs Group initiated coverage on shares of Innio in a report on Monday, June 29th. They set a “buy” rating and a $42.00 price target for the company. One analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating, three have given a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $42.90.

Innio Company Profile

INNIO Group is an energy technology company that develops and provides power generation and gas compression solutions. Its principal product lines are marketed under the Jenbacher and Waukesha brands, which serve distributed power generation, combined heat and power, and industrial and commercial energy applications.

The company manufactures gas engines and related systems designed to operate on fuels including natural gas, biogas, landfill gas and hydrogen blends. Its offerings also include microgrid and energy-management solutions, aftermarket services, parts and maintenance, and digital monitoring through its myPlant platform.