INNOVATE Corp. (NYSE:VATE - Get Free Report) shares traded down 6% on Tuesday . The company traded as low as $0.65 and last traded at $0.66. 399,609 shares changed hands during trading, an increase of 70% from the average session volume of 234,407 shares. The stock had previously closed at $0.70.
INNOVATE Trading Up 6.0 %
The firm has a market capitalization of $55.43 million, a PE ratio of -1.49 and a beta of 2.10. The business's 50 day simple moving average is $0.79 and its two-hundred day simple moving average is $1.05.
Institutional Investors Weigh In On INNOVATE
Hedge funds have recently added to or reduced their stakes in the stock. Jane Street Group LLC purchased a new stake in INNOVATE during the 1st quarter valued at $38,000. Two Sigma Investments LP bought a new stake in shares of INNOVATE during the 1st quarter valued at $31,000. ExodusPoint Capital Management LP bought a new stake in shares of INNOVATE during the 1st quarter valued at $35,000. Cubist Systematic Strategies LLC bought a new stake in shares of INNOVATE during the 1st quarter valued at $35,000. Finally, Sei Investments Co. bought a new stake in shares of INNOVATE during the 2nd quarter valued at $25,000. 34.28% of the stock is currently owned by hedge funds and other institutional investors.
INNOVATE Company Profile
(
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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