Shares of INNOVATE Corp. (NYSE:VATE - Get Free Report) were down 3.7% during trading on Friday . The company traded as low as $4.60 and last traded at $4.69. Approximately 14,332 shares traded hands during mid-day trading, a decline of 50% from the average daily volume of 28,698 shares. The stock had previously closed at $4.87.
INNOVATE Stock Performance
The firm has a market cap of $63.10 million, a PE ratio of -0.78 and a beta of 1.81. The stock's 50 day simple moving average is $5.34 and its 200 day simple moving average is $6.91.
INNOVATE (NYSE:VATE - Get Free Report) last released its quarterly earnings results on Tuesday, August 5th. The company reported ($1.67) EPS for the quarter. The business had revenue of $242.00 million for the quarter.
Hedge Funds Weigh In On INNOVATE
A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. Geode Capital Management LLC grew its stake in INNOVATE by 1.6% in the 4th quarter. Geode Capital Management LLC now owns 123,674 shares of the company's stock worth $611,000 after buying an additional 1,962 shares in the last quarter. MSH Capital Advisors LLC lifted its holdings in shares of INNOVATE by 14.1% in the 1st quarter. MSH Capital Advisors LLC now owns 16,943 shares of the company's stock worth $133,000 after acquiring an additional 2,088 shares during the last quarter. SBI Securities Co. Ltd. bought a new stake in shares of INNOVATE in the 1st quarter worth approximately $47,000. Northern Trust Corp lifted its holdings in shares of INNOVATE by 75.5% in the 4th quarter. Northern Trust Corp now owns 19,619 shares of the company's stock worth $97,000 after acquiring an additional 8,440 shares during the last quarter. Finally, Aristeia Capital L.L.C. bought a new stake in shares of INNOVATE in the 4th quarter worth approximately $67,000. Hedge funds and other institutional investors own 34.28% of the company's stock.
About INNOVATE
(
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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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