Inno Holdings Inc. (NASDAQ:INHD) Sees Significant Decline in Short Interest

Inno Holdings Inc. (NASDAQ:INHD) was the target of a significant decrease in short interest in the month of August. As of August 14th, there was short interest totaling 185,748 shares, a decrease of 93.2% from the July 30th total of 2,721,858 shares. Currently, 7.4% of the shares of the stock are sold short. Based on an average trading volume of 1,211,571 shares, the short-interest ratio is presently 0.2 days.

Inno Trading Down 0.2%

NASDAQ:INHD traded down $0.01 during trading hours on Wednesday, reaching $6.58. 46,791 shares of the company were exchanged, compared to its average volume of 2,880,336. The firm has a market cap of $16.58 million, a PE ratio of -0.04 and a beta of -23.74. Inno has a twelve month low of $1.01 and a twelve month high of $7,651.20. The stock’s 50-day moving average is $28.28 and its 200-day moving average is $19.03.

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

Hedge Funds Weigh In On Inno

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Jane Street Group LLC purchased a new position in Inno in the 4th quarter valued at $75,000. Two Sigma Investments LP purchased a new stake in shares of Inno during the third quarter worth $58,000. Geode Capital Management LLC raised its position in shares of Inno by 48.6% in the second quarter. Geode Capital Management LLC now owns 31,128 shares of the company’s stock valued at $43,000 after buying an additional 10,177 shares during the last quarter. Virtu Financial LLC acquired a new stake in shares of Inno in the fourth quarter valued at about $36,000. Finally, T3 Companies LLC purchased a new position in shares of Inno in the fourth quarter worth about $41,000. Hedge funds and other institutional investors own 0.16% of the company’s stock.

Wall Street Analyst Weigh In

Separately, Weiss Ratings cut 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, According to data from MarketBeat.com, the company currently has a consensus rating of “Sell”.

About Inno

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.