Innio (NASDAQ:INIO) Stock Gets Price Target Cut from Morgan Stanley

Innio (NASDAQ:INIO) had its price objective reduced by Morgan Stanley from $47.00 to $40.00 in a report released on Wednesday morning, MarketBeat.com reports. They currently have an overweight rating on the stock.

Several other research analysts have also weighed in on INIO. Zacks Research upgraded shares of Innio to a “hold” rating in a report on Tuesday, June 30th. Robert W. Baird set a $37.00 target price on shares of Innio in a report on Wednesday, July 29th. The Goldman Sachs Group set a $35.00 target price on shares of Innio in a report on Wednesday, September 30th. Citigroup dropped their price target on shares of Innio from $30.00 to $22.00 and set a “neutral” rating for the company in a research report on Monday, October 12th. Finally, Weiss Ratings assumed coverage on shares of Innio in a research report on Monday, August 31st. They set a “sell (d)” rating for the company. One analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating, three have issued a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $39.50.

Innio Trading Down 1.6%

Innio stock opened at $16.24 on Wednesday. The firm has a fifty day simple moving average of $21.02. Innio has a 52 week low of $15.30 and a 52 week high of $42.95. 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 issued its quarterly earnings results on Tuesday, July 28th. The company reported $0.08 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.05 by $0.03. The business had revenue of $937.70 million during the quarter. On average, analysts anticipate that Innio will post 0.37 earnings per share for the current year.

Institutional Investors Weigh In On Innio

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

Innio Company Profile

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.