Innio (NASDAQ:INIO) Trading Down 7.4% - Should You Sell?

Key Points

• Innio shares fell 7.4% to about $23.37 in mid-day trading, with volume roughly 75% below the average session level.
• Analyst views remain generally positive: the stock has a consensus “Moderate Buy” rating and an average price target of $42.90, despite some hold and neutral ratings.
• Innio exceeded quarterly earnings expectations, reporting $0.08 in EPS versus a $0.05 estimate and $937.7 million in revenue; analysts project $0.37 EPS for the current fiscal year.

Shares of Innio N.V. (NASDAQ:INIO - Get Free Report) traded down 7.4% during mid-day trading on Thursday . The stock traded as low as $23.50 and last traded at $23.3650. Approximately 1,193,361 shares were traded during trading, a decline of 75% from the average session volume of 4,681,508 shares. The stock had previously closed at $25.22.

Analysts Set New Price Targets

A number of equities research analysts have recently commented on INIO shares. Deutsche Bank Aktiengesellschaft initiated coverage on Innio in a research report on Monday, June 29th. They set a "hold" rating and a $41.00 price objective for the company. The Goldman Sachs Group assumed coverage on Innio in a research note on Monday, June 29th. They issued a "buy" rating and a $42.00 price target for the company. UBS Group assumed coverage on shares of Innio in a report on Monday, June 29th. They issued a "buy" rating and a $47.00 price objective for the company. Citigroup started coverage on Innio in a report on Monday, June 29th. They set a "neutral" rating and a $42.00 price target on the stock. Finally, Wall Street Zen raised Innio to a "hold" rating in a research report on Saturday, June 13th. One analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and three have assigned a Hold rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $42.90.

Innio Stock Performance

The company's 50 day moving average price is $31.16.

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

Institutional Trading of Innio

A hedge fund recently bought a new position in Innio stock. Wellington Management Group LLP purchased a new position in shares of Innio N.V. (NASDAQ:INIO - Free Report) in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 28,248 shares of the company's stock, valued at approximately $1,117,000.

About Innio

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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