Inno Holdings Inc. (NASDAQ:INHD – Free Report)’s stock is set to reverse split on Monday, December 22nd. The 1-24 reverse split was announced on Thursday, December 18th. The number of shares owned by shareholders will be adjusted after the market closes on Friday, December 19th.
Inno Stock Down 37.5%
INHD traded down $0.04 during trading on Thursday, hitting $0.07. The company’s stock had a trading volume of 43,188,173 shares, compared to its average volume of 6,634,462. The firm’s 50 day moving average price is $0.72 and its two-hundred day moving average price is $1.72. The stock has a market capitalization of $914,270.00, a price-to-earnings ratio of -0.09 and a beta of -1.80. Inno has a 12 month low of $0.07 and a 12 month high of $19.78.
Analyst Upgrades and Downgrades
INHD has been the topic of a number of research analyst reports. Weiss Ratings reissued a “sell (e+)” rating on shares of Inno in a report on Wednesday, October 8th. Wall Street Zen cut shares of Inno from a “hold” rating to a “sell” rating in a research note on Saturday, October 11th. One analyst has rated the stock with a Sell rating, According to data from MarketBeat.com, the company has an average rating of “Sell”.
Institutional Investors Weigh In On Inno
An institutional investor recently bought a new position in Inno stock. Two Sigma Investments LP purchased a new position in shares of Inno Holdings Inc. (NASDAQ:INHD – Free Report) in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 41,938 shares of the company’s stock, valued at approximately $58,000. Two Sigma Investments LP owned about 0.38% of Inno at the end of the most recent reporting period. Hedge funds and other institutional investors own 0.16% of the company’s stock.
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.
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