Innio (NASDAQ:INIO) Hits New 52-Week Low – Time to Sell?

Innio N.V. (NASDAQ:INIO) reached a new 52-week low during trading on Monday . The stock traded as low as $18.90 and last traded at $18.9680, with a volume of 137496 shares trading hands. The stock had previously closed at $20.35.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on INIO. Deutsche Bank Aktiengesellschaft assumed coverage on Innio in a research note on Monday, June 29th. They set a “hold” rating and a $41.00 price target on the stock. Royal Bank Of Canada upgraded Innio from a “sector perform” rating to an “outperform” rating and lowered their price objective for the stock from $39.00 to $35.00 in a research report on Thursday, July 30th. Citigroup began coverage on Innio in a report on Monday, June 29th. They set a “neutral” rating and a $42.00 price objective for the company. Zacks Research upgraded shares of Innio to a “hold” rating in a research report on Tuesday, June 30th. Finally, Morgan Stanley began coverage on shares of Innio in a research note on Monday, June 29th. They issued an “overweight” rating and a $47.00 target price on the stock. One analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating, three have given a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $42.90.

Innio Trading Down 8.1%

The stock has a 50 day moving average of $25.86.

Innio (NASDAQ:INIO) last posted its 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 firm had revenue of $937.70 million during the quarter. Equities analysts anticipate that Innio N.V. will post 0.37 earnings per share for the current year.

Hedge Funds Weigh In On Innio

Several institutional investors and hedge funds have recently modified their holdings of the business. Squarepoint Ops LLC acquired a new position in shares of Innio in the second quarter valued at approximately $13,842,000. Value Aligned Research Advisors LLC bought a new position in shares of Innio during the second quarter worth about $53,605,000. Readystate Asset Management LP bought a new stake in Innio in the 2nd quarter valued at approximately $3,975,000. Dragoneer Investment Group LLC acquired a new position in Innio during the 2nd quarter worth approximately $112,718,000. Finally, Junto Capital Management LP acquired a new position in Innio during the 2nd quarter worth approximately $26,193,000.

About Innio

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.