Innio (NASDAQ:INIO) Shares Gap Up – What’s Next?

Innio N.V. (NASDAQ:INIO) gapped up prior to trading on Thursday . The stock had previously closed at $21.77, but opened at $24.60. Innio shares last traded at $25.0750, with a volume of 1,022,910 shares changing hands.

Analyst Ratings Changes

INIO has been the topic of a number of research reports. Citigroup started coverage on shares of Innio in a research report on Monday, June 29th. They issued a “neutral” rating and a $42.00 price objective on the stock. Morgan Stanley initiated coverage on shares of Innio in a research note on Monday, June 29th. They issued an “overweight” rating and a $47.00 price target on the stock. The Goldman Sachs Group assumed coverage on shares of Innio in a research report on Monday, June 29th. They set a “buy” rating and a $42.00 price target on the stock. Zacks Research upgraded shares of Innio to a “hold” rating in a research note on Tuesday, June 30th. Finally, JPMorgan Chase & Co. started coverage on Innio in a report on Monday, June 29th. They issued an “overweight” rating and a $44.00 price objective for the company. One analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and three have issued a Hold rating to the stock. According to MarketBeat, Innio has a consensus rating of “Moderate Buy” and an average target price of $42.90.

Innio Stock Performance

The company’s 50 day simple moving average is $32.70.

Innio (NASDAQ:INIO) last posted its quarterly earnings results on Tuesday, July 28th. The company reported $0.08 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.05 by $0.03. The firm had revenue of $937.70 million for the quarter.

Innio Company Profile

INNIO is a provider of energy solutions, offering reciprocating gas engines, power generation systems, and related services for distributed power generation and gas compression applications. Its portfolio is designed to support customers in industries such as utilities, data centers, agriculture, wastewater, and oil and gas, where reliable on-site power and efficiency are important.

The company is best known for its Jenbacher and Waukesha brands, which are used in engines and power systems that can run on natural gas, biogas, and other gaseous fuels.