Innio (NASDAQ:INIO) Stock Price Up 7.9% – Here’s Why

Innio N.V. (NASDAQ:INIO) shares rose 7.9% on Monday. The stock traded as high as $16.43 and last traded at $16.4110. 4,345,949 shares changed hands during trading, a decline of 11% from the average daily volume of 4,899,603 shares. The stock had previously closed at $15.21.

Wall Street Analyst Weigh In

A number of equities research analysts recently commented on the stock. UBS Group initiated coverage on shares of Innio in a report on Monday, June 29th. They issued a “buy” rating and a $47.00 price target on the stock. The Goldman Sachs Group set a $35.00 price objective on Innio in a report on Wednesday, September 30th. BNP Paribas Exane started coverage on Innio in a research report on Monday, June 29th. They issued an “outperform” rating and a $48.00 target price for the company. Bank of America started coverage on Innio in a research note on Monday, June 29th. They issued a “buy” rating and a $46.00 target price on the stock. Finally, Robert W. Baird set a $37.00 price target on Innio in a research note on Wednesday, July 29th. One equities research analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating, three have given a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $38.40.

Innio Stock Up 11.9%

The company has a current ratio of 1.25, a quick ratio of 0.79 and a debt-to-equity ratio of 11.90. The firm has a market cap of $12.76 billion and a P/E ratio of 212.35. The company has a 50-day simple moving average of $19.85.

Innio (NASDAQ:INIO) last announced 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 expect that Innio N.V. will post 0.37 EPS for the current year.

Hedge Funds Weigh In On Innio

Hedge funds have recently modified their holdings of the company. Sterling Capital Management LLC bought a new position in shares of Innio during the third quarter valued at approximately $43,000. Wellington Management Group LLP purchased a new position in Innio during the 2nd quarter valued at $1,117,000. Troluce Capital Advisors LLC bought a new position in Innio in the 2nd quarter worth $1,483,000. WINTON GROUP Ltd purchased a new stake in shares of Innio in the 2nd quarter worth about $2,990,000. Finally, Readystate Asset Management LP purchased a new stake in shares of Innio in the 2nd quarter worth about $3,975,000.

Innio Company Profile

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.