Readystate Asset Management LP Buys New Position in Innio N.V. $INIO

Key Points

• Readystate Asset Management initiated a position in Innio during the second quarter, purchasing 100,500 shares valued at approximately $3.98 million. Several other institutional investors also established new stakes, including Value Aligned Research Advisors with an investment worth about $53.6 million.
• Innio reported quarterly earnings of $0.08 per share, exceeding the $0.05 consensus estimate, on revenue of $937.7 million. Analysts expect full-year earnings of approximately $0.37 per share.
• Shares opened at $20.77, near the company’s 12-month low of $19.04 and below its 50-day moving average of $27.59. Despite the decline, analysts maintain a “Moderate Buy” consensus rating with an average price target of $42.90.

Readystate Asset Management LP bought a new stake in Innio N.V. (NASDAQ:INIO - Free Report) in the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor bought 100,500 shares of the company's stock, valued at approximately $3,975,000.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Wellington Management Group LLP purchased a new position in Innio in the second quarter valued at about $1,117,000. Troluce Capital Advisors LLC purchased a new position in shares of Innio during the 2nd quarter valued at approximately $1,483,000. Finally, Value Aligned Research Advisors LLC bought a new stake in shares of Innio in the second quarter worth $53,605,000.

Innio Stock Performance

Shares of INIO opened at $20.77 on Monday. The company's 50 day simple moving average is $27.59. Innio N.V. has a twelve month low of $19.04 and a twelve month high of $42.95.

Innio (NASDAQ:INIO - Get Free Report) last issued its quarterly earnings results on Tuesday, July 28th. The company reported $0.08 EPS for the quarter, topping the consensus estimate of $0.05 by $0.03. The business had revenue of $937.70 million during the quarter. Analysts predict that Innio N.V. will post 0.37 earnings per share for the current year.

Wall Street Analysts Forecast Growth

INIO has been the subject of a number of research analyst reports. Citigroup began coverage on Innio in a report on Monday, June 29th. They issued a "neutral" rating and a $42.00 price target for the company. Zacks Research upgraded Innio to a "hold" rating in a research report on Tuesday, June 30th. Wall Street Zen upgraded Innio to a "hold" rating in a research report on Saturday, June 13th. Robert W. Baird set a $37.00 target price on Innio in a research report on Wednesday, July 29th. Finally, The Goldman Sachs Group initiated coverage on shares of Innio in a report on Monday, June 29th. They set a "buy" rating and a $42.00 price target for the company. One analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating, three have assigned a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $42.90.

Innio Profile

INNIO is a provider of energy solutions, offering reciprocating gas engines, power generation systems, and related services for distributed power generation and gas compression applications. Its portfolio is designed to support customers in industries such as utilities, data centers, agriculture, wastewater, and oil and gas, where reliable on-site power and efficiency are important.

The company is best known for its Jenbacher and Waukesha brands, which are used in engines and power systems that can run on natural gas, biogas, and other gaseous fuels.

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