Innio (NASDAQ:INIO) Stock Price Up 9.3% – Here’s Why

Innio N.V. (NASDAQ:INIO)’s stock price shot up 9.3% during mid-day trading on Wednesday. The stock traded as high as $14.94 and last traded at $15.0450. 280,734 shares were traded during trading, a decline of 95% from the average daily volume of 5,245,445 shares. The stock had previously closed at $13.77.

Wall Street Analysts Forecast Growth

A number of equities research analysts have commented on INIO shares. Royal Bank Of Canada upgraded Innio from a “sector perform” rating to an “outperform” rating and decreased their price target for the company from $39.00 to $35.00 in a research note on Thursday, July 30th. BNP Paribas Exane dropped their price target on Innio from $43.00 to $35.00 and set an “outperform” rating on the stock in a research note on Tuesday, October 27th. Citigroup cut their price objective on shares of Innio from $22.00 to $21.00 and set a “neutral” rating on the stock in a report on Wednesday, October 28th. The Goldman Sachs Group reaffirmed a “buy” rating and issued a $31.00 price objective on shares of Innio in a research report on Tuesday, October 27th. Finally, Weiss Ratings cut shares of Innio from a “sell (d)” rating to a “sell (d-)” rating in a research note on Wednesday, October 14th. One equities research 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 assigned a Sell rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $36.80.

Innio Price Performance

The company has a quick ratio of 0.80, a current ratio of 1.27 and a debt-to-equity ratio of 7.50. The company’s 50-day simple moving average is $17.94.

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

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the company. Sterling Capital Management LLC purchased a new stake in Innio in the third quarter valued at approximately $43,000. Chicago Partners Investment Group LLC purchased a new position in Innio during the 3rd quarter worth approximately $157,000. AlphaGrep UK Ltd acquired a new stake in Innio during the 3rd quarter valued at approximately $345,000. Wellington Management Group LLP acquired a new stake in Innio during the 2nd quarter valued at approximately $1,117,000. Finally, Troluce Capital Advisors LLC acquired a new stake in Innio during the 2nd quarter valued at approximately $1,483,000.

About Innio

INNIO Group is an energy technology company that designs and manufactures reciprocating gas engines and related power generation and compression systems. Its products are marketed under the Jenbacher and Waukesha brands, alongside digital monitoring, maintenance and service offerings. The company’s equipment is used in applications including onsite and distributed power generation, industrial operations and gas compression. INNIO supports customers in markets around the world and offers solutions designed to operate with fuels such as natural gas and biogas.