Innventure (NASDAQ:INV) Upgraded by Wall Street Zen to "Hold" Rating

Key Points

• Wall Street Zen upgraded Innventure from “Sell” to “Hold,” while Weiss Ratings also adjusted its rating but still classified the stock as “Sell.” MarketBeat reports an overall “Sell” consensus and an $8.00 average price target.
• Innventure shares opened at $3.22 after falling 2.7%, with a market capitalization of approximately $270.6 million. The stock trades well below its 50-day and 200-day moving averages and has a negative price-to-earnings ratio.
• The company reported a quarterly loss of $0.26 per share, beating estimates for a $0.36 loss, but posted negative revenue of $3.52 million and sharply negative profitability metrics. Institutional investors own 55.98% of the stock, with several major holders increasing their positions.

Innventure (NASDAQ:INV - Get Free Report) was upgraded by equities researchers at Wall Street Zen from a "sell" rating to a "hold" rating in a note issued to investors on Saturday.

Separately, Weiss Ratings raised shares of Innventure from a "sell (e+)" rating to a "sell (d-)" rating in a report on Thursday, May 7th. One research analyst has rated the stock with a Sell rating, According to MarketBeat.com, Innventure currently has an average rating of "Sell" and an average price target of $8.00.

Innventure Trading Down 2.7%

Shares of INV opened at $3.22 on Friday. Innventure has a 12-month low of $2.36 and a 12-month high of $7.86. The company has a quick ratio of 1.34, a current ratio of 1.37 and a debt-to-equity ratio of 0.01. The firm has a market capitalization of $270.61 million, a price-to-earnings ratio of -1.14 and a beta of 0.39. The stock's 50-day moving average price is $5.01 and its 200 day moving average price is $4.59.

Innventure (NASDAQ:INV - Get Free Report) last posted its quarterly earnings results on Thursday, May 14th. The company reported ($0.26) EPS for the quarter, beating the consensus estimate of ($0.36) by $0.10. Innventure had a negative return on equity of 34.73% and a negative net margin of 5,225.19%.The firm had revenue of ($3.52) million during the quarter, compared to analysts' expectations of $1.65 million. As a group, research analysts predict that Innventure will post -0.9 earnings per share for the current year.

Institutional Investors Weigh In On Innventure

Several large investors have recently modified their holdings of INV. NewEdge Advisors LLC raised its holdings in shares of Innventure by 264.2% in the 1st quarter. NewEdge Advisors LLC now owns 549,901 shares of the company's stock worth $2,150,000 after buying an additional 398,911 shares in the last quarter. Essential Partners LLC acquired a new stake in Innventure in the 1st quarter valued at $32,000. Bank of America Corp DE boosted its stake in Innventure by 177.8% in the 1st quarter. Bank of America Corp DE now owns 137,756 shares of the company's stock valued at $539,000 after buying an additional 88,169 shares in the last quarter. The Manufacturers Life Insurance Company acquired a new stake in Innventure in the 1st quarter valued at $55,000. Finally, Renaissance Technologies LLC grew its position in Innventure by 228.1% in the first quarter. Renaissance Technologies LLC now owns 105,000 shares of the company's stock valued at $411,000 after acquiring an additional 73,000 shares during the period. 55.98% of the stock is currently owned by institutional investors.

Innventure Company Profile

Innventure Inc founds, funds and operates companies with a focus on transformative, sustainable technology solutions acquired or licensed from multinational corporations. Innventure Inc, formerly known as Learn CW Investment Corporation, is based in ORLANDO, Fla.

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