INNEOVA (NASDAQ:INEO) Stock Price Down 3.5% – What’s Next?

INNEOVA Holdings Limited (NASDAQ:INEO) fell 3.5% on Monday. The company traded as low as $0.5401 and last traded at $0.5407. 18,645 shares changed hands during trading, a decline of 78% from the average session volume of 85,999 shares. The stock had previously closed at $0.5602.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings lowered INNEOVA from a “sell (d)” rating to a “sell (e+)” rating in a report on Friday. One research analyst has rated the stock with a Sell rating. According to MarketBeat, INNEOVA currently has a consensus rating of “Sell”.

INNEOVA Stock Down 2.3%

The company’s fifty day moving average price is $0.57 and its two-hundred day moving average price is $0.60. The company has a quick ratio of 0.61, a current ratio of 1.04 and a debt-to-equity ratio of 0.49.

INNEOVA (NASDAQ:INEO) last announced its earnings results on Wednesday, October 14th. The company reported $0.01 earnings per share for the quarter. The company had revenue of $12.90 million during the quarter.

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.