Innventure (NASDAQ:INV) Shares Down 7.9% – Should You Sell?

Innventure, Inc. (NASDAQ:INV)’s stock price dropped 7.9% during trading on Monday . The company traded as low as $6.04 and last traded at $6.1050. Approximately 1,048,040 shares changed hands during trading, a decline of 49% from the average session volume of 2,073,072 shares. The stock had previously closed at $6.63.

Analyst Ratings Changes

INV has been the subject of several research analyst reports. Wall Street Zen upgraded Innventure from a “sell” rating to a “hold” rating in a research report on Saturday, May 16th. Weiss Ratings upgraded Innventure from a “sell (e+)” rating to a “sell (d-)” rating in a report on Thursday, May 7th. One equities research analyst has rated the stock with a Sell rating, According to MarketBeat.com, Innventure has a consensus rating of “Sell” and a consensus price target of $8.00.

Innventure Price Performance

The company’s 50-day moving average price is $6.12 and its 200-day moving average price is $4.69. The company has a quick ratio of 1.34, a current ratio of 1.37 and a debt-to-equity ratio of 0.01. The firm has a market cap of $509.70 million, a price-to-earnings ratio of -2.18 and a beta of 0.38.

Innventure (NASDAQ:INV) last announced its quarterly earnings data on Thursday, May 14th. The company reported ($0.26) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.36) by $0.10. Innventure had a negative net margin of 5,225.19% and a negative return on equity of 34.73%. The firm had revenue of ($3.52) million during the quarter, compared to analysts’ expectations of $1.65 million. On average, equities research analysts forecast that Innventure, Inc. will post -0.9 EPS for the current year.

Insider Buying and Selling

In other Innventure news, Director Daniel J. Hennessy sold 582,139 shares of the business’s stock in a transaction on Monday, April 20th. The shares were sold at an average price of $5.52, for a total value of $3,213,407.28. Following the completion of the transaction, the director owned 182,358 shares in the company, valued at $1,006,616.16. The trade was a 76.15% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. 14.33% of the stock is owned by corporate insiders.

Institutional Trading of Innventure

Several hedge funds have recently modified their holdings of the stock. NewEdge Advisors LLC boosted its holdings in Innventure by 264.2% in the first quarter. NewEdge Advisors LLC now owns 549,901 shares of the company’s stock valued at $2,150,000 after purchasing an additional 398,911 shares during the period. Essential Partners LLC purchased a new stake in Innventure during the 1st quarter worth about $32,000. Bank of America Corp DE increased its holdings in Innventure by 177.8% during the 1st quarter. Bank of America Corp DE now owns 137,756 shares of the company’s stock worth $539,000 after purchasing an additional 88,169 shares during the period. The Manufacturers Life Insurance Company acquired a new stake in Innventure in the 1st quarter valued at about $55,000. Finally, Renaissance Technologies LLC raised its position in Innventure by 228.1% in the 1st quarter. Renaissance Technologies LLC now owns 105,000 shares of the company’s stock valued at $411,000 after purchasing an additional 73,000 shares in the last quarter. 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.