INNEOVA Holdings Limited (NASDAQ:INEO) Sees Significant Increase in Short Interest

INNEOVA Holdings Limited (NASDAQ:INEO) saw a large increase in short interest in the month of May. As of May 29th, there was short interest totaling 1,414 shares, an increase of 217.0% from the May 14th total of 446 shares. Based on an average daily volume of 82,238 shares, the days-to-cover ratio is currently 0.0 days. Approximately 0.0% of the company’s stock are sold short.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings restated a “sell (d)” rating on shares of INNEOVA in a report on Friday, April 10th. One research analyst has rated the stock with a Sell rating, Based on data from MarketBeat, the stock presently has a consensus rating of “Sell”.

INNEOVA Price Performance

NASDAQ INEO traded down $0.03 during trading hours on Friday, hitting $0.63. 118,157 shares of the company were exchanged, compared to its average volume of 113,531. The company has a 50 day moving average of $0.59 and a two-hundred day moving average of $0.59. The company has a debt-to-equity ratio of 0.25, a current ratio of 1.02 and a quick ratio of 0.52. INNEOVA has a 52-week low of $0.44 and a 52-week high of $1.94.

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.