Innio (NASDAQ:INIO) Hits New 1-Year Low on Analyst Downgrade

Shares of Innio N.V. (NASDAQ:INIO) hit a new 52-week low during mid-day trading on Wednesday after Morgan Stanley lowered their price target on the stock from $47.00 to $40.00. Morgan Stanley currently has an overweight rating on the stock. Innio traded as low as $17.00 and last traded at $17.0260, with a volume of 563,982 shares changing hands. The stock had previously closed at $18.31.

Several other brokerages have also recently weighed in on INIO. Bank of America started coverage on Innio in a research note on Monday, June 29th. They set a “buy” rating and a $46.00 target price for the company. Deutsche Bank Aktiengesellschaft initiated coverage on shares of Innio in a research report on Monday, June 29th. They issued a “hold” rating and a $41.00 price target on the stock. Citigroup reduced their price objective on shares of Innio from $30.00 to $22.00 and set a “neutral” rating for the company in a research report on Monday. Robert W. Baird set a $37.00 price objective on shares of Innio in a research note on Wednesday, July 29th. Finally, BNP Paribas Exane started coverage on shares of Innio in a report on Monday, June 29th. They issued an “outperform” rating and a $48.00 target price on the stock. One research analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating, three have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $39.50.

Institutional Investors Weigh In On Innio

Hedge funds have recently modified their holdings of the stock. HBK Investments L P acquired a new position in shares of Innio in the 2nd quarter valued at $6,031,000. Junto Capital Management LP acquired a new stake in Innio during the 2nd quarter worth about $26,193,000. Dragoneer Investment Group LLC acquired a new stake in Innio during the 2nd quarter worth about $112,718,000. WINTON GROUP Ltd purchased a new stake in Innio during the second quarter valued at about $2,990,000. Finally, Squarepoint Ops LLC purchased a new stake in Innio during the second quarter valued at about $13,842,000.

Innio Stock Down 7.5%

The stock’s 50 day moving average price is $21.62. The stock has a market capitalization of $12.70 billion and a P/E ratio of 211.84. The company has a quick ratio of 0.79, a current ratio of 1.25 and a debt-to-equity ratio of 11.90.

Innio (NASDAQ:INIO) last released its earnings results on Tuesday, July 28th. The company reported $0.08 earnings per share for the quarter, topping the consensus estimate of $0.05 by $0.03. The firm had revenue of $937.70 million during the quarter. On average, analysts anticipate that Innio N.V. will post 0.37 earnings per share for the current fiscal year.

About Innio

INNIO Group Holding GmbH develops and provides energy solutions for power generation and compression applications. Its portfolio includes gas engines, combined heat and power systems, distributed energy systems, and related equipment and services designed for industrial, commercial, utility, and infrastructure customers.

The company operates through its Jenbacher and Waukesha brands. Jenbacher products are used for distributed power generation, cogeneration, renewable-gas applications, and energy-transition projects, while Waukesha products primarily serve natural-gas engine applications, including power generation and mechanical-drive systems for the oil and gas industry.