Innio Sees Unusually High Options Volume (NASDAQ:INIO)

Innio N.V. (NASDAQ:INIO) saw unusually large options trading on Thursday. Stock investors acquired 18,418 put options on the stock. This is an increase of 9,749% compared to the average volume of 187 put options.

Institutional Trading of Innio

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. HBK Investments L P purchased a new stake in shares of Innio during the second quarter valued at $6,031,000. Junto Capital Management LP bought a new stake in Innio during the 2nd quarter valued at about $26,193,000. Dragoneer Investment Group LLC purchased a new stake in Innio in the 2nd quarter valued at about $112,718,000. WINTON GROUP Ltd bought a new position in Innio in the 2nd quarter worth about $2,990,000. Finally, Squarepoint Ops LLC bought a new position in Innio in the 2nd quarter worth about $13,842,000.

Wall Street Analyst Weigh In

INIO has been the subject of several analyst reports. JPMorgan Chase & Co. began coverage on Innio in a research note on Monday, June 29th. They issued an “overweight” rating and a $44.00 price objective for the company. Citigroup started coverage on Innio in a report on Monday, June 29th. They set a “neutral” rating and a $42.00 price target on the stock. Morgan Stanley started coverage on Innio in a research report on Monday, June 29th. They issued an “overweight” rating and a $47.00 price target for the company. Wall Street Zen raised shares of Innio to a “hold” rating in a research note on Saturday, June 13th. Finally, BNP Paribas Exane began coverage on shares of Innio in a research note on Monday, June 29th. They issued an “outperform” rating and a $48.00 target price on the stock. One investment analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating, three have given a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $42.90.

Innio Stock Up 0.9%

Shares of NASDAQ:INIO opened at $21.15 on Friday. The company’s 50 day simple moving average is $24.35. Innio has a 1 year low of $17.45 and a 1 year high of $42.95.

Innio (NASDAQ:INIO) last issued its quarterly earnings results on Tuesday, July 28th. The company reported $0.08 earnings per share for the quarter, topping the consensus estimate of $0.05 by $0.03. The business had revenue of $937.70 million during the quarter. Analysts anticipate that Innio will post 0.37 EPS for the current fiscal year.

Innio Company Profile

INNIO Group is an energy technology company that develops and provides power generation and gas compression solutions. Its principal product lines are marketed under the Jenbacher and Waukesha brands, which serve distributed power generation, combined heat and power, and industrial and commercial energy applications.

The company manufactures gas engines and related systems designed to operate on fuels including natural gas, biogas, landfill gas and hydrogen blends. Its offerings also include microgrid and energy-management solutions, aftermarket services, parts and maintenance, and digital monitoring through its myPlant platform.