Short Interest in Inno Holdings Inc. (NASDAQ:INHD) Declines By 17.6%

Inno Holdings Inc. (NASDAQ:INHD) was the recipient of a large decrease in short interest during the month of February. As of February 27th, there was short interest totaling 356,305 shares, a decrease of 17.6% from the February 12th total of 432,390 shares. Currently, 4.2% of the shares of the company are sold short. Based on an average daily trading volume, of 139,820 shares, the days-to-cover ratio is currently 2.5 days. Based on an average daily trading volume, of 139,820 shares, the days-to-cover ratio is currently 2.5 days. Currently, 4.2% of the shares of the company are sold short.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the company. Geode Capital Management LLC raised its holdings in shares of Inno by 48.6% during the second quarter. Geode Capital Management LLC now owns 31,128 shares of the company’s stock valued at $43,000 after acquiring an additional 10,177 shares during the period. Two Sigma Investments LP purchased a new position in Inno during the 3rd quarter worth approximately $58,000. T3 Companies LLC acquired a new stake in Inno during the 4th quarter valued at $41,000. Jane Street Group LLC purchased a new stake in shares of Inno in the fourth quarter valued at $75,000. Finally, Virtu Financial LLC purchased a new stake in shares of Inno in the fourth quarter valued at $36,000. 0.16% of the stock is owned by hedge funds and other institutional investors.

Inno Trading Down 0.9%

Shares of NASDAQ INHD traded down $0.01 during mid-day trading on Monday, reaching $1.13. The company had a trading volume of 37,180 shares, compared to its average volume of 141,055. The company has a 50-day moving average price of $1.21 and a two-hundred day moving average price of $25.05. The stock has a market cap of $9.50 million, a PE ratio of -0.08 and a beta of -1.06. Inno has a 1-year low of $0.97 and a 1-year high of $474.72.

Inno (NASDAQ:INHD) last released its quarterly earnings results on Monday, December 15th. The company reported $3.60 earnings per share for the quarter. The business had revenue of $1.09 million during the quarter. Inno had a negative return on equity of 24.17% and a negative net margin of 158.32%.

Analyst Ratings Changes

A number of equities research analysts have issued reports on the company. Weiss Ratings reiterated a “sell (e+)” rating on shares of Inno in a research note on Thursday, January 22nd. Wall Street Zen cut shares of Inno from a “hold” rating to a “sell” rating in a report on Saturday, February 28th. One analyst has rated the stock with a Sell rating, According to data from MarketBeat.com, the stock presently 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.