Inno (NASDAQ:INHD) Announces Earnings Results

Inno (NASDAQ:INHD) released its earnings results on Friday. The company reported ($1.40) EPS for the quarter, reports. Inno had a negative net margin of 158.32% and a negative return on equity of 24.17%. The business had revenue of $0.93 million during the quarter.

Inno Stock Down 10.9%

Shares of INHD stock opened at $0.08 on Friday. Inno has a fifty-two week low of $0.07 and a fifty-two week high of $474.72. The stock has a market cap of $647,570.00, a P/E ratio of -0.01 and a beta of -2.68. The business has a fifty day simple moving average of $14.61 and a 200-day simple moving average of $123.14.

Inno shares are set to reverse split on Monday, May 4th. The 1-20 reverse split was announced on Wednesday, April 29th. The number of shares owned by shareholders will be adjusted after the market closes on Friday, May 1st.

Analyst Upgrades and Downgrades

A number of equities research analysts have commented on INHD shares. Weiss Ratings reissued a “sell (e+)” rating on shares of Inno in a report on Tuesday, April 21st. Wall Street Zen downgraded Inno from a “hold” rating to a “sell” rating in a report on Saturday, February 28th. One equities research analyst has rated the stock with a Sell rating, According to MarketBeat, Inno presently has a consensus rating of “Sell”.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in INHD. Jane Street Group LLC purchased a new position in shares of Inno in the fourth quarter valued at $75,000. Two Sigma Investments LP purchased a new position in shares of Inno in the third quarter valued at $58,000. Virtu Financial LLC purchased a new stake in Inno during the 4th quarter worth about $36,000. Finally, Geode Capital Management LLC increased its position in Inno by 48.6% during the 2nd quarter. Geode Capital Management LLC now owns 31,128 shares of the company’s stock worth $43,000 after purchasing an additional 10,177 shares in the last quarter. Hedge funds and other institutional investors own 0.16% of the company’s stock.

Inno Company Profile

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.