Innio (NASDAQ:INIO) Reaches New 12-Month Low on Analyst Downgrade

Innio N.V. (NASDAQ:INIO)’s stock price hit a new 52-week low during mid-day trading on Tuesday after JPMorgan Chase & Co. lowered their price target on the stock from $40.00 to $33.00. JPMorgan Chase & Co. currently has an overweight rating on the stock. Innio traded as low as $15.06 and last traded at $15.5930, with a volume of 167,447 shares traded. The stock had previously closed at $16.01.

INIO has been the topic of a number of other research reports. BNP Paribas Exane began coverage on Innio in a research note on Monday, June 29th. They issued an “outperform” rating and a $48.00 target price on the stock. Morgan Stanley dropped their price target on Innio from $47.00 to $40.00 and set an “overweight” rating for the company in a research note on Wednesday, October 14th. Weiss Ratings lowered Innio from a “sell (d)” rating to a “sell (d-)” rating in a research note on Wednesday, October 14th. Zacks Research upgraded Innio to a “hold” rating in a report on Tuesday, June 30th. Finally, The Goldman Sachs Group set a $35.00 price objective on Innio in a research report on Wednesday, September 30th. One research analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating, three have given a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $38.40.

Institutional Investors Weigh In On Innio

A number of hedge funds have recently made changes to their positions in INIO. Dragoneer Investment Group LLC purchased a new stake in shares of Innio in the 2nd quarter valued at $112,718,000. Value Aligned Research Advisors LLC purchased a new position in Innio in the 2nd quarter worth $53,605,000. Junto Capital Management LP purchased a new position in Innio in the 2nd quarter worth $26,193,000. Squarepoint Ops LLC bought a new stake in Innio in the second quarter worth $13,842,000. Finally, HBK Investments L P bought a new stake in Innio in the second quarter worth $6,031,000.

Innio Price Performance

The company has a market capitalization of $11.97 billion and a PE ratio of 199.25. The firm’s 50 day moving average price is $20.80. The company has a debt-to-equity ratio of 11.90, a current ratio of 1.25 and a quick ratio of 0.79.

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

About Innio

INNIO is an energy technology company that provides power-generation and gas-compression solutions for industrial, commercial and utility customers. Its portfolio includes Jenbacher gas engines and Waukesha engines, along with associated equipment, digital tools and long-term service offerings.

The company’s solutions are designed for applications including combined heat and power, distributed power generation, microgrids and gas compression. INNIO supports a range of fuel sources, including natural gas, biogas and hydrogen blends, helping customers produce electricity and useful heat while supporting grid reliability and energy-system flexibility.

INNIO was established in 2018 following the acquisition of GE’s Distributed Power business by Advent International.