Innio (NASDAQ:INIO) Stock Jumps 9.3% – Still a Buy?

Innio N.V. (NASDAQ:INIO)’s stock price traded up 9.3% during trading on Wednesday. The stock traded as high as $14.94 and last traded at $15.0450. Approximately 280,734 shares changed hands during mid-day trading, a decline of 95% from the average daily volume of 5,245,445 shares. The stock had previously closed at $13.77.

Analyst Ratings Changes

INIO has been the topic of several analyst reports. JPMorgan Chase & Co. cut their price target on shares of Innio from $40.00 to $33.00 and set an “overweight” rating on the stock in a research report on Monday, October 19th. Wall Street Zen upgraded Innio from a “hold” rating to a “buy” rating in a research note on Saturday, October 31st. Robert W. Baird set a $37.00 price target on Innio in a research report on Wednesday, July 29th. Morgan Stanley increased their target price on Innio from $40.00 to $42.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 28th. Finally, Citigroup reduced their price objective on shares of Innio from $22.00 to $21.00 and set a “neutral” rating for the company in a research note on Wednesday, October 28th. One 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 company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $36.80.

Innio Stock Performance

The firm’s fifty day moving average price is $18.13. The stock has a market capitalization of $11.28 billion and a P/E ratio of 187.20. The company has a quick ratio of 0.80, a current ratio of 1.27 and a debt-to-equity ratio of 7.50.

Innio (NASDAQ:INIO) last issued its quarterly earnings results on Tuesday, October 27th. The company reported $0.15 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.11 by $0.04. The company had revenue of $1.17 billion for the quarter. Innio had a return on equity of 63.87% and a net margin of 2.71%. On average, research analysts predict that Innio N.V. will post 0.40 EPS for the current fiscal year.

Institutional Investors Weigh In On Innio

Large investors have recently added to or reduced their stakes in the company. Sterling Capital Management LLC purchased a new position in shares of Innio during the 3rd quarter worth approximately $43,000. Chicago Partners Investment Group LLC bought a new position in shares of Innio in the 3rd quarter worth approximately $157,000. Wellington Management Group LLP purchased a new stake in shares of Innio in the second quarter worth $1,117,000. Troluce Capital Advisors LLC bought a new stake in shares of Innio during the second quarter valued at approximately $1,483,000. Finally, WINTON GROUP Ltd purchased a new stake in shares of Innio during the 2nd quarter worth approximately $2,990,000.

About Innio

INNIO Group is an energy technology company that designs and manufactures reciprocating gas engines and related power generation and compression systems. Its products are marketed under the Jenbacher and Waukesha brands, alongside digital monitoring, maintenance and service offerings. The company’s equipment is used in applications including onsite and distributed power generation, industrial operations and gas compression. INNIO supports customers in markets around the world and offers solutions designed to operate with fuels such as natural gas and biogas.