Innio N.V. (NASDAQ:INIO) Sees Significant Increase in Short Interest

Innio N.V. (NASDAQ:INIO) was the recipient of a large increase in short interest during the month of June. As of June 30th, there was short interest totaling 8,076,525 shares, an increase of 101.6% from the June 15th total of 4,007,164 shares. Currently, 1.1% of the company’s stock are sold short. Based on an average daily trading volume, of 4,246,141 shares, the short-interest ratio is currently 1.9 days.

Innio Stock Performance

Shares of INIO traded down $0.30 during mid-day trading on Friday, hitting $27.72. The stock had a trading volume of 7,928,158 shares, compared to its average volume of 5,143,084. Innio has a 52 week low of $24.58 and a 52 week high of $42.95.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently weighed in on the company. Wall Street Zen upgraded Innio to a “hold” rating in a research note on Saturday, June 13th. Morgan Stanley initiated coverage on Innio in a research report on Monday, June 29th. They issued an “overweight” rating and a $47.00 price objective on the stock. JPMorgan Chase & Co. began coverage on Innio in a research report on Monday, June 29th. They set an “overweight” rating and a $44.00 target price for the company. Deutsche Bank Aktiengesellschaft began coverage on Innio in a research note on Monday, June 29th. They set a “hold” rating and a $41.00 target price on the stock. Finally, BNP Paribas Exane assumed coverage on shares of Innio in a report on Monday, June 29th. They issued an “outperform” rating and a $48.00 price target on the stock. One research analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating and four have given a Hold rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $44.60.

About Innio

INNIO is a provider of energy solutions, offering reciprocating gas engines, power generation systems, and related services for distributed power generation and gas compression applications. Its portfolio is designed to support customers in industries such as utilities, data centers, agriculture, wastewater, and oil and gas, where reliable on-site power and efficiency are important.

The company is best known for its Jenbacher and Waukesha brands, which are used in engines and power systems that can run on natural gas, biogas, and other gaseous fuels.