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

INNEOVA Holdings Limited (NASDAQ:INEO) was the target of a significant increase in short interest in July. As of July 15th, there was short interest totaling 84,379 shares, an increase of 279.4% from the June 30th total of 22,241 shares. Currently, 0.5% of the shares of the company are sold short. Based on an average trading volume of 93,394 shares, the short-interest ratio is presently 0.9 days.

INNEOVA Stock Down 5.2%

NASDAQ:INEO opened at $0.68 on Tuesday. The firm’s fifty day simple moving average is $0.64 and its 200-day simple moving average is $0.58. The company has a quick ratio of 0.58, a current ratio of 1.02 and a debt-to-equity ratio of 0.25. INNEOVA has a fifty-two week low of $0.44 and a fifty-two week high of $1.27.

INNEOVA (NASDAQ:INEO) last announced its quarterly earnings data on Friday, May 15th. The company reported ($0.03) EPS for the quarter.

Wall Street Analyst Weigh In

Separately, Weiss Ratings restated a “sell (d)” rating on shares of INNEOVA in a research note on Wednesday, July 8th. One analyst has rated the stock with a Sell rating, According to data from MarketBeat, INNEOVA has a consensus rating of “Sell”.

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.