Inno (NASDAQ:INHD) Issues Earnings Results

Inno (NASDAQ:INHD) posted its quarterly earnings results on Tuesday. The company reported ($0.01) earnings per share (EPS) for the quarter, FiscalAI reports. The company had revenue of $1.46 million for the quarter. Inno had a negative net margin of 248.77% and a negative return on equity of 47.74%.

Inno Stock Up 3.6%

Shares of INHD stock traded up $0.04 during mid-day trading on Tuesday, hitting $1.16. 383,149 shares of the company’s stock were exchanged, compared to its average volume of 278,292. The stock has a 50-day simple moving average of $2.24 and a two-hundred day simple moving average of $33.72. Inno has a fifty-two week low of $1.06 and a fifty-two week high of $474.72. The stock has a market cap of $4.73 million, a price-to-earnings ratio of -0.06 and a beta of -1.18.

Institutional Inflows and Outflows

A hedge fund recently raised its stake in Inno stock. Geode Capital Management LLC boosted its position in Inno Holdings Inc. (NASDAQ:INHD) by 48.6% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 31,128 shares of the company’s stock after acquiring an additional 10,177 shares during the quarter. Geode Capital Management LLC owned 0.40% of Inno worth $43,000 as of its most recent filing with the Securities and Exchange Commission. 0.16% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of analysts have commented on the company. Wall Street Zen downgraded Inno to a “strong sell” rating in a research report on Saturday, December 27th. Weiss Ratings reiterated a “sell (e+)” rating on shares of Inno in a research report on Thursday, January 22nd. One equities research analyst has rated the stock with a Sell rating, According to MarketBeat.com, the company currently has an average 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.