Innventure (NASDAQ:INV) Shares Up 8.9% – Here’s Why

Shares of Innventure, Inc. (NASDAQ:INV) shot up 8.9% during mid-day trading on Thursday . The stock traded as high as $7.71 and last traded at $7.7880. 1,238,576 shares were traded during trading, a decline of 35% from the average session volume of 1,915,110 shares. The stock had previously closed at $7.15.

Analyst Upgrades and Downgrades

Several brokerages have weighed in on INV. Northland Securities set a $8.00 target price on shares of Innventure in a research note on Thursday, January 22nd. Weiss Ratings upgraded shares of Innventure from a “sell (e+)” rating to a “sell (d-)” rating in a research note on Thursday, May 7th. Finally, Wall Street Zen upgraded shares of Innventure from a “strong sell” rating to a “sell” rating in a research note on Saturday, April 25th. One analyst has rated the stock with a Sell rating, According to MarketBeat.com, Innventure has a consensus rating of “Sell” and a consensus target price of $8.00.

Innventure Trading Up 5.3%

The company has a market capitalization of $602.92 million, a price-to-earnings ratio of -1.33 and a beta of 0.46. The company has a quick ratio of 1.07, a current ratio of 1.09 and a debt-to-equity ratio of 0.02. The company’s 50 day simple moving average is $4.81 and its two-hundred day simple moving average is $4.23.

Innventure (NASDAQ:INV) last announced its earnings results on Monday, March 30th. The company reported ($0.29) earnings per share for the quarter, beating the consensus estimate of ($0.32) by $0.03. Innventure had a negative net margin of 14,266.39% and a negative return on equity of 23.77%. The company had revenue of ($20.21) million during the quarter, compared to the consensus estimate of $2.01 million. As a group, research analysts anticipate that Innventure, Inc. will post -1.34 earnings per share for the current fiscal year.

Insider Activity at Innventure

In other news, Director Daniel J. Hennessy sold 582,139 shares of Innventure stock in a transaction on Monday, April 20th. The shares were sold at an average price of $5.52, for a total transaction of $3,213,407.28. Following the completion of the sale, the director directly owned 182,358 shares in the company, valued at approximately $1,006,616.16. The trade was a 76.15% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Insiders own 23.64% of the company’s stock.

Institutional Investors Weigh In On Innventure

Institutional investors and hedge funds have recently made changes to their positions in the stock. Yorkville Advisors Global LP acquired a new stake in shares of Innventure during the third quarter worth $43,000. Police & Firemen s Retirement System of New Jersey acquired a new stake in shares of Innventure during the fourth quarter worth $32,000. WESPAC Advisors LLC acquired a new stake in shares of Innventure during the fourth quarter worth $42,000. Diversify Advisory Services LLC purchased a new position in shares of Innventure during the fourth quarter worth $44,000. Finally, R Squared Ltd purchased a new position in shares of Innventure during the first quarter worth $51,000. 55.98% of the stock is currently owned by institutional investors and hedge funds.

Innventure Company Profile

Innventure Inc founds, funds and operates companies with a focus on transformative, sustainable technology solutions acquired or licensed from multinational corporations. Innventure Inc, formerly known as Learn CW Investment Corporation, is based in ORLANDO, Fla.