Innio (NASDAQ:INIO) Shares Gap Up – Here’s Why

Innio N.V. (NASDAQ:INIO) gapped up before the market opened on Wednesday . The stock had previously closed at $19.47, but opened at $20.26. Innio shares last traded at $19.7080, with a volume of 326,181 shares changing hands.

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on the company. Zacks Research upgraded Innio to a “hold” rating in a research note on Tuesday, June 30th. Robert W. Baird set a $37.00 price target on Innio in a research note on Wednesday, July 29th. Weiss Ratings assumed coverage on Innio in a research report on Monday. They issued a “sell (d)” rating on the stock. Bank of America started coverage on Innio in a research note on Monday, June 29th. They set a “buy” rating and a $46.00 price objective for the company. Finally, BNP Paribas Exane started coverage on Innio in a report on Monday, June 29th. They set an “outperform” rating and a $48.00 price objective for the company. One equities research analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating, three have given a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $42.90.

Innio Stock Performance

The business has a 50 day moving average price of $28.61.

Innio (NASDAQ:INIO) last posted its earnings results on Tuesday, July 28th. The company reported $0.08 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.05 by $0.03. The firm had revenue of $937.70 million during the quarter. As a group, equities analysts predict that Innio N.V. will post 0.37 EPS for the current fiscal year.

Hedge Funds Weigh In On Innio

Institutional investors and hedge funds have recently bought and sold shares of the business. Wellington Management Group LLP acquired a new stake in shares of Innio in the second quarter valued at $1,117,000. Troluce Capital Advisors LLC bought a new position in shares of Innio in the second quarter valued at about $1,483,000. Readystate Asset Management LP acquired a new position in Innio during the 2nd quarter worth about $3,975,000. Finally, Value Aligned Research Advisors LLC acquired a new position in Innio during the 2nd quarter worth about $53,605,000.

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.