Shares of INNOVATE Corp. (NYSE:VATE - Get Free Report) were up 5% during mid-day trading on Monday . The stock traded as high as $4.83 and last traded at $4.76. Approximately 32,141 shares traded hands during mid-day trading, an increase of 3% from the average daily volume of 31,099 shares. The stock had previously closed at $4.53.
Analyst Upgrades and Downgrades
Separately, Weiss Ratings reissued a "sell (e+)" rating on shares of INNOVATE in a report on Wednesday, October 8th. One analyst has rated the stock with a Sell rating, According to data from MarketBeat, the stock has a consensus rating of "Sell".
Read Our Latest Research Report on INNOVATE
INNOVATE Stock Up 5.0%
The firm has a market capitalization of $63.43 million, a PE ratio of -0.79 and a beta of 1.89. The stock's fifty day simple moving average is $4.86 and its 200 day simple moving average is $5.47.
INNOVATE (NYSE:VATE - Get Free Report) last issued its quarterly earnings results on Tuesday, August 5th. The company reported ($1.67) earnings per share for the quarter. The firm had revenue of $242.00 million for the quarter.
Institutional Trading of INNOVATE
A number of hedge funds and other institutional investors have recently bought and sold shares of VATE. Prescott Group Capital Management L.L.C. purchased a new position in shares of INNOVATE during the 1st quarter valued at about $413,000. OMERS ADMINISTRATION Corp purchased a new stake in INNOVATE in the 1st quarter worth approximately $253,000. SBI Securities Co. Ltd. bought a new stake in INNOVATE during the 1st quarter worth approximately $47,000. Finally, MSH Capital Advisors LLC lifted its holdings in INNOVATE by 14.1% during the first quarter. MSH Capital Advisors LLC now owns 16,943 shares of the company's stock valued at $133,000 after purchasing an additional 2,088 shares in the last quarter. Hedge funds and other institutional investors own 34.28% of the company's stock.
About INNOVATE
(
Get Free Report)
INNOVATE Corp., through its subsidiaries, operates in infrastructure, life sciences, and spectrum areas in the United States. The Infrastructure segment provides industrial construction, structural steel, and facility maintenance services, such as fabrication and erection of structural steel and heavy steel plate services, and large-diameter water pipes and water storage tanks; fabrication of trusses and girders; and 3-D building information modeling and detailing for commercial, industrial, and infrastructure construction projects, such as buildings and office complexes, hotels and casinos, convention centers, sports arenas and stadiums, shopping malls, hospitals, dams, bridges, mines, metal processing, refineries, pulp and paper mills, and power plants.
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