Inno Holdings Inc. (NASDAQ:INHD) Short Interest Update

Inno Holdings Inc. (NASDAQ:INHD) saw a significant growth in short interest in the month of June. As of June 15th, there was short interest totaling 2,704,440 shares, a growth of 1,744.1% from the May 31st total of 146,651 shares. Based on an average daily volume of 25,312,068 shares, the days-to-cover ratio is presently 0.1 days. Currently, 107.4% of the company’s stock are sold short.

Institutional Trading of Inno

Large investors have recently added to or reduced their stakes in the business. Geode Capital Management LLC boosted its stake in Inno by 48.6% during the 2nd quarter. Geode Capital Management LLC now owns 31,128 shares of the company’s stock valued at $43,000 after purchasing an additional 10,177 shares in the last quarter. Two Sigma Investments LP bought a new position in Inno during the third quarter valued at about $58,000. T3 Companies LLC bought a new position in Inno during the fourth quarter valued at about $41,000. Jane Street Group LLC acquired a new position in Inno during the fourth quarter worth about $75,000. Finally, Virtu Financial LLC acquired a new position in Inno during the fourth quarter worth about $36,000. 0.16% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of research analysts have commented on INHD shares. Weiss Ratings upgraded Inno from a “sell (e+)” rating to a “sell (d-)” rating in a research note on Monday, June 8th. Wall Street Zen downgraded Inno from a “hold” rating to a “sell” rating in a report on Saturday, February 28th. One investment analyst has rated the stock with a Sell rating, According to data from MarketBeat.com, the stock presently has an average rating of “Sell”.

Inno Price Performance

Shares of NASDAQ:INHD remained flat at $39.49 on Friday. The firm has a market cap of $99.51 million, a price-to-earnings ratio of -0.26 and a beta of -2.80. Inno has a 1-year low of $1.01 and a 1-year high of $7,651.20. The company has a fifty day simple moving average of $12.43 and a two-hundred day simple moving average of $21.38.

About Inno

Inno Holdings Inc manufactures and sells cold-formed-steel members, castor cubes, mobile factories, and prefabricated homes in the United States. The company provides cold-formed steel framing and a mobile factory for off-site equipment rental, sales, service, and support. It serves in residential, commercial, industrial, and infrastructure projects. Inno Holdings Inc was founded in 2019 and is headquartered in Brookshire, Texas.