INNEOVA Holdings Limited (NASDAQ:INEO) Short Interest Up 4,552.8% in August

INNEOVA Holdings Limited (NASDAQ:INEO) was the recipient of a significant increase in short interest in August. As of August 31st, there was short interest totaling 55,555 shares, an increase of 4,552.8% from the August 15th total of 1,194 shares. Currently, 0.5% of the company’s stock are short sold. Based on an average daily volume of 279,383 shares, the short-interest ratio is presently 0.2 days.

Analyst Ratings Changes

Separately, Weiss Ratings reissued a “sell (d)” rating on shares of INNEOVA in a report on Wednesday, July 8th. One research analyst has rated the stock with a Sell rating, Based on data from MarketBeat.com, INNEOVA currently has a consensus rating of “Sell”.

INNEOVA Stock Up 1.0%

INEO stock traded up $0.01 during trading on Thursday, hitting $0.54. 2,484 shares of the company’s stock were exchanged, compared to its average volume of 219,229. The business has a 50-day moving average price of $0.63 and a two-hundred day moving average price of $0.59. INNEOVA has a 52-week low of $0.44 and a 52-week high of $1.20. The company has a debt-to-equity ratio of 0.25, a current ratio of 1.02 and a quick ratio of 0.58.

About INNEOVA

We are a Singapore-based provider of high-quality Original Equipment Manufacturer (“OEM”), third party branded and in-house branded replacement parts for motor vehicles and for non-vehicle combustion engines serving a number of industries. We distribute spare parts through operations primarily based in Singapore and global sales primarily generated from the Middle East and Asia. Through our On-Highway Business, we supply a wide range of genuine OEM and aftermarket parts for use in passenger and commercial vehicles bearing either the manufacturer’s brands or our in-house brands through SP Zone.