Inno (NASDAQ:INHD) Releases Earnings Results

Inno (NASDAQ:INHD) issued its earnings results on Tuesday. The company reported ($0.70) earnings per share for the quarter, FiscalAI reports. The firm had revenue of $2.07 million during the quarter. Inno had a negative return on equity of 13.08% and a negative net margin of 86.76%.

Inno Stock Performance

INHD traded down $0.02 during trading on Tuesday, reaching $8.00. 618,790 shares of the company traded hands, compared to its average volume of 3,018,768. The company has a market cap of $20.17 million, a P/E ratio of -0.05 and a beta of -23.70. Inno has a 12-month low of $1.01 and a 12-month high of $7,651.20. The firm has a fifty day simple moving average of $32.13 and a 200 day simple moving average of $19.75.

Hedge Funds Weigh In On Inno

Hedge funds and other institutional investors have recently modified their holdings of the stock. Jane Street Group LLC bought a new stake in Inno in the 4th quarter valued at $75,000. Two Sigma Investments LP bought a new position in shares of Inno during the 3rd quarter valued at about $58,000. T3 Companies LLC bought a new position in shares of Inno during the 4th quarter valued at about $41,000. Virtu Financial LLC purchased a new position in shares of Inno during the fourth quarter valued at about $36,000. Finally, Geode Capital Management LLC grew its position in shares of Inno by 48.6% during the second quarter. Geode Capital Management LLC now owns 31,128 shares of the company’s stock valued at $43,000 after purchasing an additional 10,177 shares in the last quarter. Institutional investors own 0.16% of the company’s stock.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings cut Inno from a “sell (d-)” rating to a “sell (e+)” rating in a report on Monday, August 3rd. One analyst has rated the stock with a Sell rating, According to MarketBeat.com, the stock presently has an average rating of “Sell”.

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.