Short Interest in Inno Holdings Inc. (NASDAQ:INHD) Drops By 17.6%

Inno Holdings Inc. (NASDAQ:INHD) saw a significant decrease in short interest in the month of February. As of February 27th, there was short interest totaling 356,305 shares, a decrease of 17.6% from the February 12th total of 432,390 shares. Based on an average daily trading volume, of 139,820 shares, the short-interest ratio is presently 2.5 days. Approximately 4.2% of the company’s stock are short sold. Approximately 4.2% of the company’s stock are short sold. Based on an average daily trading volume, of 139,820 shares, the short-interest ratio is presently 2.5 days.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of the business. Virtu Financial LLC acquired a new stake in Inno during the fourth quarter worth about $36,000. Jane Street Group LLC acquired a new position in Inno in the fourth quarter valued at approximately $75,000. T3 Companies LLC bought a new position in shares of Inno during the fourth quarter valued at approximately $41,000. Two Sigma Investments LP acquired a new stake in shares of Inno during the 3rd quarter worth approximately $58,000. Finally, Geode Capital Management LLC raised its position in shares of Inno by 48.6% during the 2nd quarter. Geode Capital Management LLC now owns 31,128 shares of the company’s stock worth $43,000 after purchasing an additional 10,177 shares during the period. 0.16% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

INHD has been the topic of several analyst reports. Weiss Ratings reiterated a “sell (e+)” rating on shares of Inno in a report on Thursday, January 22nd. Wall Street Zen downgraded shares of Inno from a “hold” rating to a “sell” rating in a research note on Saturday, February 28th. One investment analyst has rated the stock with a Sell rating, Based on data from MarketBeat.com, the stock currently has a consensus rating of “Sell”.

Inno Stock Performance

Shares of INHD stock traded down $0.01 during mid-day trading on Monday, reaching $1.13. 37,180 shares of the company were exchanged, compared to its average volume of 141,055. The business’s 50 day simple moving average is $1.21 and its 200 day simple moving average is $25.05. The company has a market capitalization of $9.50 million, a P/E ratio of -0.08 and a beta of -1.06. Inno has a fifty-two week low of $0.97 and a fifty-two week high of $474.72.

Inno (NASDAQ:INHD) last posted its quarterly earnings results on Monday, December 15th. The company reported $3.60 earnings per share (EPS) for the quarter. Inno had a negative net margin of 158.32% and a negative return on equity of 24.17%. The firm had revenue of $1.09 million for the quarter.

About Inno

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.