Innio (NASDAQ:INIO) Stock Price Down 14.8% – Time to Sell?

Innio N.V. (NASDAQ:INIO)’s stock price was down 14.8% during trading on Wednesday. The company traded as low as $15.71 and last traded at $15.6070. 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.

Analysts Set New Price Targets

Several analysts have recently issued reports on the stock. JPMorgan Chase & Co. reduced their price target on shares of Innio from $40.00 to $33.00 and set an “overweight” rating on the stock in a research report on Monday, October 19th. Robert W. Baird set a $37.00 price objective on shares of Innio in a research report on Wednesday, July 29th. Citigroup cut their price target on Innio from $22.00 to $21.00 and set a “neutral” rating on the stock in a research note on Wednesday, October 28th. Morgan Stanley lifted their price target on Innio from $40.00 to $42.00 and gave the stock an “overweight” rating in a report on Wednesday, October 28th. Finally, The Goldman Sachs Group reaffirmed a “buy” rating and set a $31.00 price objective on shares of Innio in a research report on Tuesday, October 27th. One analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating, three have issued a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $36.80.

Innio Stock Down 21.4%

The firm has a market capitalization of $10.79 billion and a P/E ratio of 181.79. The stock’s fifty day simple moving average is $18.89. The company has a current ratio of 1.27, a quick ratio of 0.80 and a debt-to-equity ratio of 7.50.

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

Hedge Funds Weigh In On Innio

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