INNEOVA Holdings Limited (NASDAQ:INEO) Stock Short Interest Falls 97.1%

INNEOVA Holdings Limited (NASDAQ:INEO) saw a large drop in short interest in the month of October. As of October 15th, there was short interest totaling 514 shares, a drop of 97.1% from the September 30th total of 17,986 shares. Based on an average trading volume of 55,603 shares, the short-interest ratio is currently 0.0 days. Approximately 0.0% of the shares of the company are sold short.

INNEOVA Stock Performance

Shares of INNEOVA stock traded down $0.04 on Tuesday, hitting $0.53. The company’s stock had a trading volume of 1,155 shares, compared to its average volume of 193,123. INNEOVA has a 52-week low of $0.44 and a 52-week high of $0.91. The firm has a fifty day moving average price of $0.56 and a 200-day moving average price of $0.58. The company has a debt-to-equity ratio of 0.49, a current ratio of 1.04 and a quick ratio of 0.61.

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

Analysts Set New Price Targets

Separately, Weiss Ratings downgraded INNEOVA from a “sell (d)” rating to a “sell (e+)” rating in a research note on Friday, October 16th. One equities research analyst has rated the stock with a Sell rating. According to data from MarketBeat.com, INNEOVA has an average rating of “Sell”.

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.