Inno Holdings Inc. (NASDAQ:INHD – Free Report)’s stock is set to reverse split on Monday, May 4th. The 1-20 reverse split was announced on Wednesday, April 29th. The number of shares owned by shareholders will be adjusted after the closing bell on Friday, May 1st.
Inno Stock Performance
NASDAQ:INHD traded down $0.03 during trading hours on Thursday, reaching $0.09. 45,900,119 shares of the company were exchanged, compared to its average volume of 52,933,988. The stock’s 50-day moving average is $0.75 and its 200-day moving average is $6.34. Inno has a twelve month low of $0.08 and a twelve month high of $474.72.
Analyst Upgrades and Downgrades
A number of equities analysts have weighed in on the stock. Wall Street Zen cut shares of Inno from a “hold” rating to a “sell” rating in a research report on Saturday, February 28th. Weiss Ratings reiterated a “sell (e+)” rating on shares of Inno in a research report on Tuesday, April 21st. One analyst has rated the stock with a Sell rating, According to MarketBeat, the stock currently has an average rating of “Sell”.
Institutional Investors Weigh In On Inno
A number of hedge funds have recently modified their holdings of INHD. Geode Capital Management LLC raised its position in shares of Inno by 48.6% in the second quarter. Geode Capital Management LLC now owns 31,128 shares of the company’s stock valued at $43,000 after buying an additional 10,177 shares during the last quarter. Two Sigma Investments LP acquired a new stake in shares of Inno in the third quarter valued at about $58,000. T3 Companies LLC acquired a new stake in shares of Inno in the fourth quarter valued at about $41,000. Jane Street Group LLC acquired a new stake in Inno during the fourth quarter worth about $75,000. Finally, Virtu Financial LLC acquired a new stake in Inno during the fourth quarter worth about $36,000. 0.16% of the stock is currently owned by institutional investors and hedge funds.
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.
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