INNEOVA Holdings Limited (NASDAQ:INEO) Sees Large Drop in Short Interest

INNEOVA Holdings Limited (NASDAQ:INEO) saw a significant drop in short interest in the month of September. As of September 15th, there was short interest totaling 24,424 shares, a drop of 56.0% from the August 31st total of 55,555 shares. Based on an average trading volume of 17,156 shares, the days-to-cover ratio is currently 1.4 days. Currently, 0.2% of the company’s shares are sold short.

INNEOVA Stock Performance

Shares of NASDAQ:INEO traded down $0.03 during trading on Monday, hitting $0.61. The stock had a trading volume of 13,292 shares, compared to its average volume of 210,890. INNEOVA has a 12 month low of $0.44 and a 12 month high of $1.20. The firm’s fifty day moving average is $0.60 and its 200 day moving average is $0.59. The company has a quick ratio of 0.58, a current ratio of 1.02 and a debt-to-equity ratio of 0.25.

Analysts Set New Price Targets

Separately, Weiss Ratings reiterated a “sell (d)” rating on shares of INNEOVA in a report on Wednesday, July 8th. One research analyst has rated the stock with a Sell rating, According to data from MarketBeat.com, the stock currently has a consensus rating of “Sell”.

INNEOVA Company Profile

We are a Singapore-based provider of high-quality Original Equipment Manufacturer (“OEM”), third party branded and in-house branded replacement parts for motor vehicles and for non-vehicle combustion engines serving a number of industries. We distribute spare parts through operations primarily based in Singapore and global sales primarily generated from the Middle East and Asia. Through our On-Highway Business, we supply a wide range of genuine OEM and aftermarket parts for use in passenger and commercial vehicles bearing either the manufacturer’s brands or our in-house brands through SP Zone.