Inno Holdings Inc. (NASDAQ:INHD) Sees Large Decrease in Short Interest

Key Points

• Inno Holdings Inc. (NASDAQ:INHD) experienced a 32.8% decrease in short interest in August, dropping to 122,600 shares from 182,500 shares.
• Wall Street Zen upgraded Inno from a "sell" rating to a "hold" rating on August 16th, indicating a more positive outlook for the stock.
• Inno's stock price rose 17.7%, reaching $9.65 during trading, amidst a significant trading volume of over 11 million shares.

Inno Holdings Inc. (NASDAQ:INHD - Get Free Report) was the target of a large decrease in short interest in the month of August. As of August 15th, there was short interest totaling 122,600 shares, adecreaseof32.8% from the July 31st total of 182,500 shares. Approximately2.5% of the shares of the stock are short sold. Based on an average daily trading volume, of 3,520,000 shares, the days-to-cover ratio is currently 0.0 days. Based on an average daily trading volume, of 3,520,000 shares, the days-to-cover ratio is currently 0.0 days. Approximately2.5% of the shares of the stock are short sold.

Analyst Ratings Changes

Separately, Wall Street Zen raised Inno from a "sell" rating to a "hold" rating in a research note on Saturday, August 16th.

Hedge Funds Weigh In On Inno

An institutional investor recently raised its position in Inno stock. Geode Capital Management LLC boosted its position in shares of Inno Holdings Inc. (NASDAQ:INHD - Free Report) by 48.6% in the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 31,128 shares of the company's stock after acquiring an additional 10,177 shares during the quarter. Geode Capital Management LLC owned 0.40% of Inno worth $43,000 at the end of the most recent quarter. 0.16% of the stock is owned by institutional investors and hedge funds.

Inno Stock Up 17.7%

NASDAQ:INHD traded up $1.45 during trading hours on Friday, hitting $9.65. The company had a trading volume of 11,349,925 shares, compared to its average volume of 16,061,093. The company has a 50-day moving average of $2.24 and a 200 day moving average of $3.36. Inno has a 1 year low of $1.11 and a 1 year high of $19.78.

Inno Company Profile

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.

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