Shares of INNOVATE Corp. (NYSE:VATE - Get Free Report) traded up 6.6% on Tuesday . The company traded as high as $5.83 and last traded at $5.81. 34,861 shares traded hands during mid-day trading, a decline of 82% from the average session volume of 196,028 shares. The stock had previously closed at $5.45.
INNOVATE Stock Performance
The stock's fifty day moving average is $6.14 and its two-hundred day moving average is $7.30. The firm has a market cap of $76.64 million, a price-to-earnings ratio of -1.61 and a beta of 1.78.
INNOVATE (NYSE:VATE - Get Free Report) last released its quarterly earnings data on Tuesday, May 6th. The company reported ($1.89) earnings per share for the quarter. The company had revenue of $274.20 million for the quarter.
Institutional Trading of INNOVATE
Large investors have recently modified their holdings of the company. OMERS ADMINISTRATION Corp acquired a new position in INNOVATE during the 1st quarter valued at about $253,000. MSH Capital Advisors LLC increased its stake in INNOVATE by 14.1% during the 1st quarter. MSH Capital Advisors LLC now owns 16,943 shares of the company's stock valued at $133,000 after buying an additional 2,088 shares during the period. Prescott Group Capital Management L.L.C. acquired a new position in INNOVATE during the 1st quarter valued at about $413,000. SBI Securities Co. Ltd. acquired a new position in INNOVATE during the 1st quarter valued at about $47,000. Finally, Bridgeway Capital Management LLC increased its stake in INNOVATE by 119.5% during the 4th quarter. Bridgeway Capital Management LLC now owns 45,000 shares of the company's stock valued at $222,000 after buying an additional 24,500 shares during the period. Institutional investors and hedge funds 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.
Read More
Before you consider INNOVATE, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and INNOVATE wasn't on the list.
While INNOVATE currently has a Hold rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
Which stocks are hedge funds and endowments buying in today's market? Enter your email address and we'll send you MarketBeat's list of thirteen stocks that institutional investors are buying now.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.
