INNEOVA Holdings Limited (NASDAQ:INEO) Sees Significant Growth in Short Interest

INNEOVA Holdings Limited (NASDAQ:INEO) saw a large increase in short interest in the month of June. As of June 15th, there was short interest totaling 30,566 shares, an increase of 2,061.7% from the May 31st total of 1,414 shares. Based on an average trading volume of 144,765 shares, the days-to-cover ratio is presently 0.2 days. Approximately 0.2% of the shares of the company are short sold.

INNEOVA Stock Performance

NASDAQ INEO opened at $0.58 on Friday. The stock has a 50-day moving average of $0.61 and a 200 day moving average of $0.58. The company has a quick ratio of 0.58, a current ratio of 1.02 and a debt-to-equity ratio of 0.25. INNEOVA has a twelve month low of $0.44 and a twelve month high of $1.44.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings reissued a “sell (d)” rating on shares of INNEOVA in a report on Friday, April 10th. One equities research analyst has rated the stock with a Sell rating, According to data from MarketBeat, the company currently has a consensus rating of “Sell”.

INNEOVA Company Profile

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.