Inno (NASDAQ:INHD) Trading Down 6.7% – Should You Sell?

Inno Holdings Inc. (NASDAQ:INHD)’s stock price traded down 6.7% on Monday . The company traded as low as $6.59 and last traded at $6.71. 76,630 shares traded hands during trading, a decline of 91% from the average session volume of 839,070 shares. The stock had previously closed at $7.19.

Analysts Set New Price Targets

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

Inno Price Performance

The business has a fifty day simple moving average of $28.93 and a 200 day simple moving average of $19.15. The firm has a market cap of $16.91 million, a price-to-earnings ratio of -0.05 and a beta of -23.70.

Inno (NASDAQ:INHD) last issued its quarterly earnings results on Tuesday, August 18th. The company reported ($0.70) earnings per share (EPS) for the quarter. Inno had a negative return on equity of 9.47% and a negative net margin of 72.63%.The firm had revenue of $2.07 million during the quarter.

Institutional Investors Weigh In On Inno

A number of hedge funds have recently modified their holdings of the business. Jane Street Group LLC purchased a new position in shares of Inno in the fourth quarter worth about $75,000. Two Sigma Investments LP purchased a new stake in Inno during the 3rd quarter valued at about $58,000. T3 Companies LLC acquired a new stake in Inno in the 4th quarter valued at about $41,000. Virtu Financial LLC acquired a new stake in Inno in the 4th quarter valued at about $36,000. Finally, Geode Capital Management LLC boosted its holdings in shares of Inno by 48.6% during the 2nd quarter. Geode Capital Management LLC now owns 31,128 shares of the company’s stock worth $43,000 after purchasing an additional 10,177 shares during the last quarter. 0.16% of the stock is currently owned by institutional investors and hedge funds.

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.